MIAMI, March 9, 2006 (PRIMEZONE) -- Aventura Holdings, Inc. (OTCBB:AVNT) (Frankfurt:WKN#570891) ("Aventura") made its final payment to Dutchess Private Equities Fund II LP (Dutchess) ending a twenty four month five million dollar Stock Purchase Agreement.
Terms of the Agreement included issuing previously unissued Company shares to Dutchess which Dutchess resold at market to realize repayment of the debt. Aventura and Dutchess exchanged a mutual release.
"We are extremely pleased to be virtually debt-free" boasts Craig Waltzer president of Aventura. Mr. Waltzer adds, "The Dutchess relationship financed our ability to be at the forefront of exciting new ventures and we are grateful for their support. Aventura is now geared towards profitable investments that result in low debt to equity ratios for our shareholders."
About Aventura
Aventura Holdings, Inc. is a Business Development Company (BDC) operating as an investment holding company. Aventura acquires and invests its assets and equity to build an investment portfolio and enhance shareholder value. Aventura's mission is to provide capital, equity and advisory services for management buyouts, recapitalizations, and for the growth and needs of emerging companies. As a BDC, Aventura is positioned to invest in a more efficient manner and to develop and expand its business interests.
Safe Harbor
This press release may contain "forward-looking statements." Although Aventura Holdings, Inc. believes any such statements are based on reasonable assumptions, there is no assurance that actual outcomes will not be materially different. Aventura Holdings, Inc. assumes no obligation to update those statements to reflect actual results, changes in assumptions and other factors. The forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those projected. Additional information that could lead to material changes in performance is contained in filings with the Securities and Exchange Commission.