NEW YORK, Jan. 19, 2011 (GLOBE NEWSWIRE) -- AV1 Group, Inc. (Pink Sheets:AVOP) execs announce today that it has furthered negotiations with decision makers at a National Consumer Finance/Micro-Lending Institution in Mexico toward gaining exclusive rights in partnership with the entity, to franchise or private label retail outlets with access to the institution's capital and development resources in the process.
AVOP execs are "very pleased with the progress of negotiations as it's not an if we're going to work together, but rather fine-tuning the details as to how we'll work together toward maximizing the opportunity toward collective benefit. We look to be making executive announcements and LOI or final agreement very soon as we kick off the company's new business model. Microlending/Microfinance has gained popularity worldwide as an effective tool to provide a path from poverty to sustainable income and we're thrilled to have a powerful in-house revenue stream inside a socially conscious business as our first holding."
Robert Aannibale, Global director of City Microfinance & Community Development at Citigroup, Inc. last year was quoted as saying, "...microfinance is growing faster than banking and, if the experience in other developing countries is mirrored here, microfinance will reach more individuals than the banking sector." AVOP execs are confident they will effectively capitalize on this trend in a big way with this partnership.
AVOP's management has been underway, all the while, focusing on development of the overall strategic mission for the company as a Holdings Company while diligently working to get all of this information together in order to file its Initial Disclosure Document with OTC Markets in the coming days.
Safe Harbor: This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approvals for anticipated actions.
CONTACT: AVOP CONTACT: New York, NY (212) 913-0594 InvestorRelations@AV1Group.com
