Sitoa Global Announces Engagement of IRG as Financial Advisor

PALO ALTO, Calif., Aug. 1, 2012 /PRNewswire/ -- Sitoa Global Inc. (OTCQB:STOA) ("Sitoa" or the "Company"), an e-commerce solutions and service provider, has engaged IRG Limited ("IRG"), a leading boutique financial and strategic advisory firm founded and managed by former senior members of Lehman Brothers' TMT (technology, media and telecommunications) investment banking and Internet research groups in Asia to explore strategic alternatives to accelerate the growth of the company and enhance shareholder value. 

"Given the recent public company offerings in Social Media and specialized Software as a Service (SaaS), we believe that now is an appropriate time to explore potential strategic options that could accelerate the growth of the Company.  We have engaged IRG to advise us in these matters and assist us in developing and executing those strategic options, should the Board determine that they would enhance shareholder value.  The IRG team has raised over US$10 billion in equity and debt financings and has been involved in over US$15 billion in M&A and restructuring transactions in Asia. We believe IRG's experience and track record and their understanding of the markets that we serve makes them well qualified to advise us," said George Yu, CEO of Sitoa Global.

Founded in 2000, IRG (www.irg.biz) is a boutique financial and strategic advisory firm focused on the telecommunications, media and technology sectors, particularly in Asia.  IRG's professionals have decades of experience in Asia and the U.S. at major bulge bracket firms, including having built Lehman Brothers' TMT investment banking group into the first and largest dedicated TMT group at an investment bank in Asia and establishing the first Internet research sector team in Asia.  The group evolved into Asia's leading TMT franchise and led the market, dominating lead management, advisory and strategic development for Asia Pacific's leading TMT companies.  Noteworthy transactions during their tenure at IRG and Lehman include the first IPO of an Asian Internet company on a U.S. exchange, sale of Internet portals in Korea and Japan, debt and equity financings for the first broadband Internet provider in Korea, numerous cross-border acquisitions, sales and mergers of mobile and online game companies in China, Korea, and Philippines, acquisitions of e-commerce companies in Malaysia and Philippines by one of the worlds largest Internet sector investors, and the acquisition and subsequent roll-up of Asia's largest undersea cable operator.

About Sitoa Global Inc.

Sitoa Global provides an easy-to-use and comprehensive platform, the "Focused Social Marketplace" that enables online retailers to deploy a social marketplace e-commerce site.  Sitoa's platform allows building marketplaces for online sellers with focused social customer networks to expand their sales channels without the risks of focus dilution, and increased capital and operating costs.  Sitoa shares in revenues generated by the site in addition to charging integration and hosting fees. Additional information about Sitoa may be found on its website, http://www.sitoaglobal.com. 

Safe Harbor Statement

This release contains certain "forward-looking statements" relating to the business of the Company. All statements, other than statements of historical fact included herein are "forward-looking statements" including statements regarding: the continued growth of the e-commerce segment and the ability of the Company to continue its expansion into that segment; the ability of the Company to successfully execute its business plan; the business strategy, plans, and objectives of the Company; and any other statements of non-historical information. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions and involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks, and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this news release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume any duty to update these forward-looking statements.

Contact:
Investor Relations
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SOURCE Sitoa Global Inc.