Marine Growth Ventures, Inc. Repays Financing from Commodore Factors Corporation
Marine Growth Ventures, Inc. develops new financing niche secured by marine assets.
Cape Canaveral, FL (PRWEB) September 5, 2004 --- Frank Crivello, Chairman, Marine Growth Ventures, Inc. (MGV") announced today that Commodore Factors Corporation (Commodore") was repaid for financing it provided earlier this year involving vessel charter payments. Commodore is a New York based lending company that provides receivable type financing.
MGV Chairman Frank P. Crivello stated: There is a general lack of liquidity in this space. Few lenders understand or support these asset financings. We laid out a sound structure for Commodore. Commodore took the time to understand the risk, opportunity and enjoyed with us the reward. We performed on time as agreed. We look forward to working with Commodore on future financings involving similar marine assets."
About Marine Growth Ventures, Inc.--www.marinegrowthventures.com:
MGVs mission is to find, develop, and place in service operating businesses related to our oceans; our vision is to build successful businesses while respecting and protecting our most important environmental resource - our oceans. MGV is uniquely positioned to find, analyze, and execute on marine related opportunities in transportation, freight, finance, brokerage, real estate, gaming, and entertainment.
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 could differ significantly from those statements. Factors that could cause or contribute to such differences include, but are not limited to assumptions relating to the marine market and that there will be no unanticipated material adverse change in MGV's operations or business.
Contact:
New-School Communications, LLC
Blois Olson, 651-221-1999
www.new-school.com
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