Frank Crivello, Founder, Marine Growth Ventures, Announces Closing of Private Placement Financing

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Over 100 accredited investors and insiders participated in private placement equity financing.

Marine Growth Ventures, Inc. (“MGV”) announced that MGV closed a Private Placement Offering and management subscription agreements (“Offering”). Over 100 accredited investors and insiders participated in the Offering including MGV’s management: David M. Marks, (Chairman), Craig Hodgkins, (President), Tim Levensaler (Chief Operating Officer), Frank Orlando (Executive Vice President) and Frank Crivello, CG Managing Member and MGV’s Founder.

MGV's counsel, Sichenzia Ross Friedman Ference LLP, http://www.srff.com/, (“SRFF”) represented it in connection with the Offering and related upcoming filings. On MGV’s behalf, SRFF’s upcoming matters include completion of a Form SB-2 registration with the Securities and Exchange Commission and assisting MGV to become listed on the NASD Over-the-Counter Bulletin Board.

Weinberg & Company, P.A. (http://www.cpaweinberg.com/), MGV’s accountant, is completing an SEC compliant audit of MGV.

"We were gratified by the strong support we received from this impressive group of accredited investors,” said Craig Hodgkins, President and CEO of MGV. “The completion of the Offering was integral to our strategic business goals. I am excited to lead MGV into the public world. My team and I are confident we will create shareholder value as we build MGV’s businesses."

MGV Chief Operating Officer Tim Levensaler stated: “MGV is focused on building successful marine businesses while respecting our oceans.”

MGV Chairman David M. Marks stated: "This financing is integral to our overall strategy in the marine space. Craig, Tim, and I are confident that we will continue to build MGV’s businesses."

CG Managing Member and MGV Founder Frank P. Crivello stated: “I invested capital in MGV from its creation. As well, I participated in this latest Offering. I have great faith in Tim and Craig. I am confident they will build MGV’s businesses while continuing to exercise the professionalism and integrity both have displayed throughout their careers.”

About Crivello Group, LLC http://www.crivello.com:

Crivello Group LLC is a strategic advisor and partner to emerging companies. Crivello Group LLC’s solutions for emerging companies include:

  • Stabilization
  • Plan for Restructuring
  • Divestiture & Dissolution
  • Capital & Debt Alternatives
  • Staff, Boards, and Professionals

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 or Crivello Group could differ significantly from those statements. Factors that could cause actual results to differ materially include risks and uncertainties such as the inability to finance the company’s operations or expansion, inability to hire and retain qualified personnel, changes in the general economic climate, including rising interest rate and unanticipated events such as terrorist activities. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential" or "continue," the negative of such terms, or other comparable terminology. These statements are only predictions. Although we believe that the expectations reflected in the forward-looking statements are reasonable, such statements should not be regarded as a representation by the Company, or any other person, that such forward-looking statements will be achieved. We undertake no duty to update any of the forward-looking statements, whether as a result of new information, future events or otherwise. In light of the foregoing, readers are cautioned not to place undue reliance on such forward-looking statements. For further risk factors see the risk factors associated with our Company, review our SEC filings.

Contact:    

New School Communications, LLC

Blois Olson, 651-221-1999

http://www.new-school.com

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