JUNO BEACH, Fla., Sept. 24, 2015 (GLOBE NEWSWIRE) -- via PRWEB - ValueRich, Inc. (Symbol: VRCH), the ("Company") is a multi-Industry company with a focus to acquire undervalued assets, develop and build those assets into profitability and increase shareholder value. ValueRich currently owns, operates and manages two residential real estate developments named Ravello and Visconti (http://www.viavisconti.com). The communities are comprised of 325 build-ready lots located adjacent to the St. Lucie River in Port St. Lucie, Florida.
On September 9, 2015, ValueRich entered into a Business Agreement with Twin Vee Catamarans Inc. (http://www.twinvee.com). Under the terms of the agreement ValueRich will invest in Twin Vee and assume senior management positions in the company with the goal of controlling ownership after achieving certain production and infrastructure investment milestones. "We welcome ValueRich team members Joseph Visconti and Tommy McLeod into our Twin Vee family, They bring a level of experience and business specific credentials we need to usher Twin Vee to the next level. The ValueRich investment will build the production infrastructure required to take Twin Vee from a Regional player to a National or International player while simultaneously benefiting Twin Vee customers, employees and vendors. We are particularly excited about modernizing our plant and facility so we can expand and increase Twin Vee's production, as of today we are having a difficult time keeping up with orders," said Roger Dunshee, President and CEO of Twin Vee Catamarans.
Twin Vee Catamarans, Inc., a Florida corporation, and its underlying 8.5 acres of land known as the Twin Vee corporate headquarters and manufacturing facility is located at 3101 S. Federal Highway, Ft. Pierce, Florida 34982. Twin Vee Catamarans ("Twin Vee") designs, manufactures, markets, distributes and sells recreational boats primarily under the Twin Vee brand. Twin Vee was founded in 1994 and over the past 21 years, Twin Vee has concentrated on perfecting the high-speed, displacement hull also known as a catamaran powerboat. The Twin Vee business mission continues to be based on the principle of producing safe, reliable, quality twin hull powerboats at an affordable price.
In accordance with the Twin Vee Business Agreement, ValueRich has given Twin Vee a non-refundable deposit. ValueRich will undertake a private placement to raise the necessary capital to close on the Twin Vee transaction on or before December 31, 2015. ValueRich believes the investment in Twin Vee and its underlying real estate is an opportunity to expand and diversify the Company.
Twin Vee primarily sells its boats through a network of independent dealers in North America. After the acquisition of Twin Vee, the Company intends to aggressively add distribution and selling agreements with North American and International boat dealers. The Company believes by devoting significant time and resources to develop, and improve the performance of its dealers, while also increasing the dealer network, the Company will significantly improve sales and distribution of its unique class of catamaran power boats.
"We intend on implementing a strategic action plan that includes updating and modernizing the Twin Vee manufacturing facility, leveraging the positive attributes of the Twin Vee brand, develop and grow the Twin Vee owner base Nationally and Internationally. Twin Vee has an experienced and knowledgeable work force in place, I look forward to rolling up my sleeves and joining the Twin Vee Family and adding value to an already admired and established company. Twin Vee has done a wonderful job building and maintaining a loyal band of Twin Vee enthusiasts," said Tommy McLeod. Mr. McLeod comes from an experienced boating background and will lead the expansion of Twin Vee. http://www.twinvee.com
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended, by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of ValueRich, Inc. and members of its management, as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
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