Press release
Imperiali Inc. Announces Additional Sale and Spin-Off Discussions
West Palm Beach, FL – April 5, 2007 - Imperiali Inc. announced today that management has presented the Investment Committee of Imperiali Inc. an additional spin-off of its telecommunications assets which could create a new entity named, Imperiali Global Telecom.Imperiali Global Telecom, if spun out and agreed to by the Board of Directors, could become an additional subsidiary of Imperiali Inc.
The announcement comes in the midst of Imperiali Inc. being presented a spin-off of i1connect (public relations unit), i1search (search engine unit), and Imperiali World University, to potentially be combined as one separate entity.
While management is in the process of evaluating the value of these three assets, it was brought to the investment committee's attention that Imperiali Telecom, the unit of Imperiali Inc., formerly known as New Millennium Development Group (NMDG), has announced that it reentered the telecommunications market a few months ago.
Imperiali Telecom has invested approximately $10 million US dollars in establishing a plan to build a multi-billion dollar global fiber optic sub-sea cable system, landing its cables in 70 countries around the world.
Imperiali Telecom has already strategically positioned itself to restart the telecom business. Currently, Imperiali Telecom has agreements in South America, and is working on completing agreements in the U.S., Europe, and the Middle East for which could be the first new phases of the telecom communications.
In the event that the investment committee decides to pursue this recommendation from management, then Imperiali Telecom could become an additional subsidiary which would further the success of Imperiali Inc. and increase shareholders value.
In addition, this could create a second dividend to the Imperiali Inc. shareholders.
About Imperiali Inc. (http://www.imperialiinc.com/ )
Imperiali Inc. is a global business development company (BDC), a specific type of closed-end investment company as defined by the Securities and Exchange Commission (SEC). Imperiali Inc. focuses its investment strategy on small cap companies with potential to grow globally in the areas of telecommunications, biotechnology, and energy. In addition, Imperiali Inc. has positioned itself to be a major infrastructure and project management organization.
Safe Harbor Statements under the Private Securities Litigation Reform Act of 1965: Those statements contained herein which are not historical are forward-looking statements, and as such, are subject to risks and uncertainties that could cause actual operating results to materially differ from those contained in the forward-looking statements. Such statements include, but are not limited to, certain delays that are beyond the Company's control, with respect to market acceptance of new technologies, or product delays in the testing and evaluation of products, and other risks, as detailed in the Company's periodic filings with the Securities and Exchange Commission.
Imperiali Inc.
www.imperialiinc.com
info@imperialiinc.com
Phone: (561) 805-9494
Fax: (561) 515-6136
*** This release has been created by i1connect, an independent news agency.***
About i1connect:
I1 Connect (www.i1connect.com) is the new online leader in global public relations and advertising. With a diversified set of offerings ranging from Public Relations, Press Releases Distribution, Advertising, Marketing, Website Development, to Investor Relations services, i1connect.com has positioned itself for a long term growth utilizing the latest in telecommunications technology.
Safe Harbor Statements under the Private Securities Litigation Reform Act of 1965: Those statements contained herein which are not historical are forward-looking statements, and as such, are subject to risks and uncertainties that could cause actual operating results to materially differ from those contained in the forward-looking statements. Such statements include, but are not limited to, certain delays that are beyond the Company's control, with respect to market acceptance of new technologies, or product delays in the testing and evaluation of products, and other risks, as detailed in the Company's periodic filings with the Securities and Exchange Commission.
For Interviews and Media Inquiries Contact
Press Department
I1connect
info@i1connect.com
www.i1connect.com
(561) 515-6177
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