Frank Crivello, Founder, Marine Growth Ventures, Announces Closing of Private Placement Financing
Over 100 accredited investors and insiders participated in private placement equity financing.
Cape Canaveral, FL (PRWEB) July 16, 2005 -- Marine Growth Ventures, Inc.
(“MGV”) announced that MGV closed a Private Placement Offering and management
subscription agreements (“Offering”). Over 100 accredited investors and insiders
participated in the Offering including MGV’s management: David M. Marks,
(Chairman), Craig Hodgkins, (President), Tim Levensaler (Chief Operating
Officer), Frank Orlando (Executive Vice President) and Frank Crivello, CG
Managing Member and MGV’s Founder.
MGV's counsel, Sichenzia Ross Friedman
Ference LLP, http://www.srff.com/, (“SRFF”) represented it in connection
with the Offering and related upcoming filings. On MGV’s behalf, SRFF’s upcoming
matters include completion of a Form SB-2 registration with the Securities and
Exchange Commission and assisting MGV to become listed on the NASD
Over-the-Counter Bulletin Board.
Weinberg & Company, P.A. (http://www.cpaweinberg.com/), MGV’s accountant, is completing
an SEC compliant audit of MGV.
"We were gratified by the strong support
we received from this impressive group of accredited investors,” said Craig
Hodgkins, President and CEO of MGV. “The completion of the Offering was integral
to our strategic business goals. I am excited to lead MGV into the public world.
My team and I are confident we will create shareholder value as we build MGV’s
businesses."
MGV Chief Operating Officer Tim Levensaler stated: “MGV is
focused on building successful marine businesses while respecting our
oceans.”
MGV Chairman David M. Marks stated: "This financing is integral
to our overall strategy in the marine space. Craig, Tim, and I are confident
that we will continue to build MGV’s businesses."
CG Managing Member and
MGV Founder Frank P. Crivello stated: “I invested capital in MGV from its
creation. As well, I participated in this latest Offering. I have great faith in
Tim and Craig. I am confident they will build MGV’s businesses while continuing
to exercise the professionalism and integrity both have displayed throughout
their careers.”
About Crivello Group, LLC www.crivello.com:
Crivello Group LLC is a strategic advisor and partner to emerging
companies. Crivello Group LLC’s solutions for emerging companies include:
* Stabilization
* Plan for Restructuring
* Divestiture &
Dissolution
* Capital & Debt Alternatives
* Staff, Boards, and
Professionals
Safe Harbor Statement Under the Private Securities
Litigation Act of 1995:
With the exception of historical information, the
matters discussed in this press release are forward-looking statements that
involve a number of risks and uncertainties. The actual future results of MGV or
Crivello Group could differ significantly from those statements. Factors that
could cause actual results to differ materially include risks and uncertainties
such as the inability to finance the company’s operations or expansion,
inability to hire and retain qualified personnel, changes in the general
economic climate, including rising interest rate and unanticipated events such
as terrorist activities. In some cases, you can identify forward-looking
statements by terminology such as "may," "will," "should," "expect," "plan,"
"anticipate," "believe," "estimate," "predict," "potential" or "continue," the
negative of such terms, or other comparable terminology. These statements are
only predictions. Although we believe that the expectations reflected in the
forward-looking statements are reasonable, such statements should not be
regarded as a representation by the Company, or any other person, that such
forward-looking statements will be achieved. We undertake no duty to update any
of the forward-looking statements, whether as a result of new information,
future events or otherwise. In light of the foregoing, readers are cautioned not
to place undue reliance on such forward-looking statements. For further risk
factors see the risk factors associated with our Company, review our SEC
filings.
Contact:
New School Communications,
LLC
Blois Olson, 651-221-1999
www.new-school.com
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Source : http://www.prweb.com/releases/2005/7/prweb262498.htm