SAN CARLOS, Calif., June 22, 2011 (GLOBE NEWSWIRE) -- Sinobiomed Inc., an e-commerce facilitator (d/b/a Sitoa Global Inc.), (OTCQB:STOA) (the "Company"), today announced that ShopShipUSA, the Company's recently launched social e-commerce site focused on Filipinos purchasing brand name U.S. or European luxury items, has signed FragranceNet.com as an anchor seller partner.
"We're pleased that FragranceNet.com has decided to join ShopShipUSA as a seller tapping into an under-served international market and allowing customers to purchase well known brands conveniently through ShopShipUSA," said Cal Lai, the Company's President and CEO.
FragranceNet.com is the leading online retailer of discounted brand name fragrances and beauty products. With more than 14,000 items, FragranceNet.com sells fragrances, skincare, hair care, candles, aromatherapy and more all at discounts up to 70 percent off department store prices.
"FragranceNet.com is a leader in the fragrance and beauty category in the US and we're excited about the opportunity to launch our products in the Philippines via ShopShipUSA," said Michael Nadboy, FragranceNet.com VP of Strategic Development.
About Sinobiomed Inc. (d/b/a Sitoa Global Inc.)
The Company is an e-commerce facilitator that seeks to enable new advances in e-commerce by building and managing leading online marketplaces that match online sellers with targeted customer groups. The Company's efforts target the growth of e-commerce, online media, and social networking. Its goal is to provide infrastructure for online sellers designed to attract focused customer communities as part of a social marketplace, expanding retail selling channels without the risks of focus dilution, increased capital, and operating costs. As part of its revenue model, the Company shares in revenue generated by the marketplace sites, in addition to charging one-time integration and hosting fees.
Founded in 1997, FragranceNet.com is the leading online retailer of discounted genuine brand name fragrances and beauty products. With more than 14,000 items, FragranceNet.com sells fragrances, skincare, hair care, candles, aromatherapy and more all at discounts up to 70 percent off department store prices. Brands include: Dolce & Gabbana, Cool Water, Obsession, Fendi, Romance, Versace, Escape, Gucci, Angel, Burberry, Eternity, Polo, and White Diamonds, among others.
Safe Harbor Statement
This release contains certain "forward-looking statements" relating to the business of the Company and its subsidiary companies. All statements, other than statements of historical fact included herein are "forward-looking statements" including statements regarding: the ability of the Company to successfully provide the integration and hosting services to ShopShipUSA, and share in the revenues generated by the site; the ability of ShopShipUSA and FragranceNet.com to successfully market the site to Filipino nationals; the business strategy, plans, and objectives of the Company and its subsidiaries; and any other statements of non-historical information. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions and involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks, and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this news release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website ( http://www.sec.gov ). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume any duty to update these forward-looking statements.
CONTACT: Christian Kirsebom Tel (925) 927-6666