SAN DIEGO, June 17 /PRNewswire/ -- Vanguard Management Corp (a business unit of Vanguard Minerals Corp) (OTC Bulletin Board: VNGM) announced that the company has entered into a Strategic Business Development Agreement with Genesis Venture Fund India I, LP, a private venture capital fund that makes investments in emerging growth companies in India.
Under the terms of the Agreement, Vanguard Management Corp will provide ongoing business development and strategic management consulting services to Genesis portfolio companies and assist with opening new markets for portfolio company services in India and Sri Lanka. Under the deal, Vanguard agrees to provide the above consulting services for a term of 24 months. Genesis will be issued 125,000 common shares of Vanguard as part of the transaction in exchange for 15% of the limited partnership interests in Genesis that will be issued to Vanguard. Genesis will also pay Vanguard up to $250,000 in cash milestone payments based on the performance of consulting services by Vanguard for Genesis under the Agreement.
Jim Price, CEO of Vanguard Management Corp, is currently the owner of 20% of the limited partnership interests in Genesis and also serves as its managing director. Jim Price stated: "Genesis has been actively developing relationships with emerging growth companies in India since 2005. As I have worked with Genesis, I have seen the potential synergies that the Vanguard team could bring to the Genesis portfolio companies. This Strategic partnership will significantly augment the management resources Genesis can provide to its portfolio companies and will also expand Vanguard's core strategic consulting business into India, a country where macroeconomic growth prospects remain exciting."
About Vanguard Management Corp
Vanguard Management Corp is a business unit of Vanguard Minerals Corporation. Vanguard seeks to be a leading management consulting and business development firm with core competency in emerging growth companies. Vanguard intends to provide a full range of essential support and organizational services to private and public companies. Vanguard is headquartered in San Diego, California. For additional information, please visit http://www.vanguard-corp.com/.
Forward-Looking Statements Disclosure
This press release may contain "forward-looking statements" within the meaning of the federal securities laws. In this context, forward-looking statements may address the Company's expected future business and financial performance, and often contain words such as "anticipates," "believes," "estimates," "expects," "intends," "plans," "seeks," "will," and other terms with similar meaning. These forward-looking statements by their nature address matters that are, to different degrees, uncertain. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can provide no assurances that these assumptions will prove to be correct. All forward-looking statements in this press release are expressly qualified by such cautionary statements, risks, and uncertainties, and by reference to the underlying assumptions.
Jim Price, CEO
Vanguard Management Corp
619 481 3450
SOURCE Vanguard Management Corp