NEW YORK, Dec. 22, 2010 (GLOBE NEWSWIRE) -- AV1 Group, Inc. (Pink Sheets:AVOP) announces today that in light of recent developments, its board has elected to align the company's sights on opportunities as an internationally-focused Holdings Company.
The company has recently entered discussions with the owner/operator of a well-established consumer finance/micro-lending institution in Mexico with regards to partnering toward aggressive franchise expansion to meet an ever-growing market demand.
AV1 Executives have issued a statement in regards to the move: "We are confident this strategic initiative will be a success for the company and its shareholders. The decision was made based on the ability to make the transition, effective immediately. Our prospective partners' primary business is micro-lending and pawn store operations which work to provide a convenient source for small consumer loans collateralized with precious metals or other illiquid possessions to help customers meet short-term cash needs or small business start-up capital. These types of institutions serve as a crucial element within the Mexican economy and expansion, as such, should prove to be profitable, socially conscious and with a positive effect on economic development all the while. There is a great opportunity here as this market is emerging yet with proven industry potential.
AV1 Group, Inc. confirms that it will be making announcements in regards to Management and Operations in the coming days toward collective benefit.
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: AV1 Group, Inc (212) 913-0594 InvestorRelations@AV1Group.com