Marine Growth Ventures, Inc. Announces Financing of King Crown International Company LTD and its MV Riviera I
Marine Growth Finance, Inc. reaches definitive agreement to provide working capital and first preferred ships mortgage to new owner of MV Riviera I.
Cape Canaveral, FL (PRWEB) September 9, 2004 -- Frank Crivello, Chairman, Marine Growth Ventures, Inc. (MGV") announced today its finance unit reached an agreement with King Crown International Company LTD (Crown") to provide working capital and a first preferred ships mortgage for its MV Riviera I. In addition, Sophlex Ship Management, Inc., MGVs ship management unit, will provide Crown with ship management services.
MGV Chairman Frank P. Crivello stated: We were pleased to support Crowns financing needs and look forward to working with them on future projects." MGV COO Timothy Levensaler stated: We have had a longstanding and positive relationship with King Crown and its principals. We will oversee the work at a shipyard in Spain for the MV Riviera I."
About Marine Growth Ventures, Inc. (MGV") 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 the Company 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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