NEW YORK, May 30, 2012 (GLOBE NEWSWIRE) -- Omni Ventures, Inc. (OTCQB:OMVE), announced today that it has secured the financing commitment in the amount of $1,500,000 from one of its shareholders slated for the development and launch of the PRVCY Casual Couture collection of apparel and accessories anticipated later this year. This financing commitment may provide the Company with the better opportunity to timely complete the creation and fabrication of samples of numerous new sku's, which are currently in the works with the Company's design team as well as launch sales of the new collection at the leading industry trade shows in August of 2012 and scale these sales up to the anticipated demand.
"We are very happy with this timely financing commitment," stated Christian Wicks, President of Omni Ventures, Inc. He continued, "We are particularly pleased to inform our investors and shareholders that this financing is not based on any form of conversion into any stock, options, warrants or any other securities, which means that it will not affect the number of issued shares and will not cause any dilution to the current and future shareholders, nor as we believe it would create any other reason, which may adversely affect our stock price. We are determined to use the funds, which we anticipate to become available to us under this financing to invest in the development of our new product line, engage more marketing support as well as look into augmenting our management team with the new key personnel. We will also look into using the proceeds of this financing for building more versatile inventory to scale up the sales generated by our e-commerce and social media activities."
About Omni Ventures
Omni Ventures, Inc. is the owner of PRVCY Couture, Inc., the casual couture apparel and accessories design, manufacturing and distribution company (www.prvcycouture.com) known for the "Made in Hollywood" PRVCY brands. The Company is in various stages of developing several related projects in the fields of consumer goods design, manufacturing and distribution as well as consumer services. For more info, please visit www.omve.net.
This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to financial results and plans for future development activities, and are thus prospective. Forward-looking statements include all statements that are not statements of historical fact regarding intent, belief or current expectations of the Company, its directors or its officers. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control. Actual results may differ materially from those projected in the forward-looking statements. Among the factors that could cause actual results to differ materially from those indicated in the forward-looking statements are risks and uncertainties associated with the Company's business and finances in general, including the ability to continue and manage its growth, competition, global economic conditions and other factors discussed in detail in the Company's periodic filings with the Security and Exchange Commission. You should carefully review the information disclosed within the section entitled "Risk Factors" contained in the Company's Current Report on Form 10Q/A filed on February 15, 2012, as well as the information contained in this release, when assessing the Company and its business. The Company undertakes no obligation to update any forward-looking statements.