HARBIN, China, July 9 /PRNewswire-FirstCall/ - Eline
Entertainment Group Inc. (EEGI, http://elineentertainment.com/) and
its main subsidiary Innovation Investment Group (INN) is pleased to
announce its intentions to purchase a China apparel company; in concert with an
amalgamation with AMRA-American Racing Capital, Inc.
The China merger candidate
manufactures school uniforms, and other related school and sundry
school items. Initial due diligence and investigations of the
company are almost complete. A preliminary financial assessment
found this company to be secure and stable, showing revenues in the
seven figure US dollar range. EEGI has already commenced creating
marketing materials, and obtained an office in the city of Shenzen
China for the new apparel division, with the launch geared for the
beginning of the 2011 school year. See filings on EEGI Pink Sheets
posted July 8, 2010. INN management
intends to close the Chinese apparel company purchase on an
entirely cash basis and without disturbing the EEGI share structure
or requiring any financing from the parent company, EEGI.
EEGI believes that this company is a strong match, both in terms
of potential success and industry consistency with Innovation
Investment Group. Negotiations are currently in the final stages
and an agreement contract is expected to be finalized in July.
AMRA amalgamation and share distribution to shareholders, as per
the rules, requires the approval of US authorities (FINRA) prior to
finalization. AMRA possesses several assets which are appealing to
EEGI shareholder base and the agreement from Mina Mar Group to
waive fees on this transaction to yield a higher return to AMRA
shareholders being amalgamated. Complex calculations, contracts and
approval by US authorities are required for the amalgamation. These
submissions will be filed immediately upon completion of the
transaction. Notices and pay dates, including details regarding the
finalization (expected 30-45 days) of this transaction, will be
announced in due time, as they become available, and will be filed
with Pink Sheets.
Participate! Be heard by the US authorities! Lets put the short
sellers and stock bashers on ICE. See www.minamargroup.com/ice and
sign the petition which we intend to present to US authorities to
once and for all ban the short sales in the small cap markets. The
same rules as in effect in Germany
and Hong Kong. Our proposal has a
limited scope effecting Pink Sheets and OTCBB companies only. Fight
back as an investor to repeal the "Communications Decency Act"
which allows for the short sellers, stock bashers and or those
which offer them a safe harbour to leech and thrive on these
markets, while causing distress and decline of small/micro cap
companies and the values of issuers share prices.
The company reminds its shareholders and followers to monitor
PinkSheets.com Filing section and also our IR company web site
section "PRESS RELEASES AND FILINGS" TAB
http://www.minamargroup.net/ for non newsworthy corporate
updates.
For any matters relating to retail investor queries or to send
the company or its IR a message please click on the "INVESTOR
SUPPORT" TAB, or the direct link
http://www.minamargroup.net/helpdesk. In this regard, Mina Mar
Group works diligently to answer and address all the pressing
issues regarding its clients to the shareholders' satisfaction. MMG
is in constant contact with the companies, addressing, obtaining
and processing all inquiries. MMG is often one of the advisors or
IR companies utilized by the issuer. Depending on the location of
the issuer and management's availability, it may take up to several
days to address any pressing issues. In a normal course of business
and a pending transaction, the issuer may opt to remain silent in
order not to lose advantage to a competitor. MMG is mindful that
sometimes shareholders want answers immediately, which for the
above reasons cannot be fulfilled on a timely basis.
Don't be a victim. Report a stock basher to authorities. The
company is mindful that short sellers, the company competitors and
stock bashers stalk small cap Pink Sheets listed companies with
hidden agendas. Visit http://www.stockbasher.com/ and find out what
criminal and civil actions the US authorities are taking against
web sites and the remedies available to you as an individual
investor. Discover for yourself why and how USA based small businesses and the backbone of
the economy suffer. Stay informed and do not allow entrepreneurs
dreams, innovations, and their access to capital to be thwarted as
"scalpers" and day traders vigorously day in and day out try to
exploit and extinguish US innovation and progress for quick
profits. Filings for this event are currently being reviewed and
will be filed with Pink Sheets and Client Support section in due
course. To be included in company's email database for press
releases, industry updates, and non-weekly activity in the company
that may or may not be news released, please subscribe or opt in
mailer at http://www.minamargroup.com/updates.
Safe Harbor Statement
Information in this news release may contain statements about
future expectations, plans, prospects or performance of Eline
Entertainment Group Inc. that constitute forward-looking statements
for purposes of the Safe Harbor Provisions under the Private
Securities Litigation Reform Act of 1995. The words or phrases "can
be", "expects", "may affect", "believed", "estimate", "project" and
similar words and phrases are intended to identify such
forward-looking statements. Eline Entertainment Group Inc. cautions
you that any forward-looking information provided by or on behalf
of Eline Entertainment Group Inc. is not a guarantee of future
performance. None of the information in this press release
constitutes or is intended as an offer to sell securities or
investment advice of any kind. Eline Entertainment Group Inc.'s
actual results may differ materially from those anticipated in such
forward-looking statements as a result of various important
factors, some of which are beyond Eline Entertainment Group Inc.'s
control. In addition to those discussed in Eline Entertainment
Group Inc.'s press releases, public filings, and statements by
Eline Entertainment Group Inc.'s management, including, but not
limited to, Eline Entertainment Group Inc.'s estimate of the
sufficiency of its existing capital resources, Eline Entertainment
Group Inc.'s ability to raise additional capital to fund future
operations, Eline Entertainment Group Inc.'s ability to repay its
existing indebtedness, the uncertainties involved in estimating
market opportunities, and in identifying contracts which match
Eline Entertainment Group Inc.'s capability to be awarded
contracts. All such forward-looking statements are current only as
of the date on which such statements were made. Eline Entertainment
Group Inc. does not undertake any obligation to publicly update any
forward-looking statement to reflect events or circumstances after
the date on which any such statement is made or to reflect the
occurrence of unanticipated events.
CONTACT: For any investor relations matters, please contact
www.minamargroup.net/helpdesk; Investor Relations Department
Inquiry, www.minamargroup.net (IR); For (M&A) and Corporate
Matters, www.minamargroup.com
SOURCE Eline Entertainment Group Inc.