Onteco Corporation, ONTC, Schedules Closing of Acquisition of Cyber Centers International Corporation
MIAMI, Oct. 10, 2012 /PRNewswire/ -- Onteco Corporation (OTC.QB: ONTC), (the "Company", or "Onteco"), announced today that it and Cyber Centers International Corporation, a privately-held Florida corporation, ("CCI"), have scheduled the closing of their share exchange agreement with each other for Friday, October 19, 2012.
Under the terms of the agreement Onteco will acquire all of the issued and outstanding shares of CCI, in exchange for the issuance of a number of shares of common stock of Onteco. CCI is in the business of interactive social gaming on the Internet.
"We are excited to be entering a hot consumer category," said Dror Svorai, CEO of Onteco. He added, "We are committed to continuing to expand and diversify what will become our 'portfolio of companies' in order to rapidly build value for our shareholders and accelerate our revenue stream."
About Cyber Centers International Corporation
Cyber Centers International Corporation is a developer of interactive online gaming designed for consumer play via subscription through a computer or mobile device (e.g., cell phone).
About Onteco Corporation
Onteco Corporation was founded to develop innovative, practical and cost-effective solutions to some of the most significant global environmental challenges. Today, the Company is broadening its operational footprint into rapidly growing consumer markets.
Additional information about Onteco Corporation is available at: www.Onteco.com
Safe Harbor Statement:
This release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. Certain statements set forth in this press release constitute "forward-looking statements." Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words "estimate", "project", "intend", "forecast", "anticipate", "plan", "planning", "expect", "believe", "will likely", "should", "could", "would", "may" or words or expressions of similar meaning. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the company's actual results and financial position to differ materially from those included within the forward-looking statements. Forward-looking statements involve risks and uncertainties, including those relating to the Company's ability to grow its business. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of future performance. The potential risks and uncertainties include, among others, the Company's limited operating history, the limited financial resources, domestic or global economic conditions -- activities of competitors and the presence of new or additional competition and conditions of equity markets.
CONTACT: Onteco Corporation
Dror Svorai, CEO, (305) 932-9795
SOURCE Onteco Corporation