VentureNet Capital Group, Inc. Signed a Letter of Intent To Acquire Coastal Mountain Water, Inc.
TEMECULA, Calif., Nov. 1 /PRNewswire/ -- VentureNet Capital Group, Inc. (www.vntrnet.com, a Delaware Corporation) (OTC Bulletin Board: VNTN) announced today that it has signed a Letter of Intent to acquire 70% of Coastal Mountain Water, Inc. of Yorba Linda, California.
Coastal Mountain Water, Inc. brokers and distributes the sale of bottled water with private labels for airlines, resorts, Las Vegas hotels, country clubs, and the 7 nationwide locations of Medieval Times theme restaurants. Coastal Mountain Water, Inc. intends to open its own bottled water facility in approximately 6 months. The production facility is expected to generate anticipated annual revenues of $25 million.
Coastal Mountain Water, Inc. has signed contracts and vendor numbers with Alliant Foodservices and U.S. Foods Services to provide private label bottled water. The Alliant contract is valued at $10 million and the U.S. Foods contract is valued at $5 million.
VentureNet Capital Group, Inc. specializes in providing financing and management expertise to private and public emerging growth companies demonstrating current revenues and a high growth potential.
For further information please contact VentureNet Capital Group, Inc. at 909-296-9945.
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SOURCE VentureNet Capital Group, Inc.
/CONTACT: VentureNet Capital Group, Inc., 909-296-9945, info@vntrnet.com/
/Web site: vntrnet.com |
