Videolocity International, Inc. (VCTY) Continues Merger Negotiations with Chinese Hydro Company

Jun 29, 2010, 15:38 ET from Videolocity International, Inc.

HENDERSON, NV, June 29 /PRNewswire-FirstCall/ - Videolocity International, Inc. (VCTY; is pleased to share the developments of a merger deal with a Chinese Hydro company.

The company, whose name remains undisclosed at this time, is a large utility company, founded in 2003, with profits in excess of 50 million RMB ($7,360,000 US). Hydro electric power in China today is big business and is part of the government's plans to aid underdeveloped regions with sustainable energy. The company plans to expand its services and currently seeks funding for the creation of a new hydro power station. This new hydro station is due to provide energy to the region by 2012.

After preliminary meetings with VCTY, the Hydro company's board shared a unanimous decision to proceed into the next phase of merger negotiations with VCTY. The companies are in the final stages of negotiations and once the merger details solidify, the merger candidate's financial reports (2008 through Q1 2010) will be posted as filings on MMMG and on Pink Sheets. The hydro merger would mean a great success for VCTY. The hydro conglomerate also considers providing audited financials and a potential uplisting to a higher board.

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SOURCE Videolocity International, Inc.