DEERFIELD BEACH, Fla., Feb. 5, 2007 (PRIME NEWSWIRE) -- Red Reef Laboratories International, Inc. (Pink Sheets:RRLB) and JDM Capital Corp. announce the formation of JDM Reef Capital Management, LLC, a Joint Venture.
JDM Capital is a NYC-based boutique real estate finance company. "We've known of Red Reef Labs ability to restore healthy environments in properties that require restoration due to a variety of issues for quite some time and are pleased that this union will provide both companies with an opportunity to profit from our mutually exclusive talents," said Joseph DeMatteo, President of JDM Capital.
"We know Mr. DeMatteo to be knowledgeable and resourceful in creating value added real estate opportunities and are confident that this venture will prove to be profitable and beneficial to all participants with the added benefit of improving the environment as we acquire and restore properties," commented Dr. Claus Wagner-Bartak, President and Chairman of Red Reef Labs.
In an agreement designed to fully engage the effectiveness and range of Red Reef Labs products and JDM Capital's experience in creative financing and thorough understanding of real estate markets, both companies are poised to reap substantial financial rewards through the judicious application of their individual talents.
JDM Reef Capital Management, LLC will seek out environmentally distressed properties and evaluate the scope of remediation required to restore maximum value to the property. JDM Reef Capital Funding, LLC will then arrange the funding for purchase and restoration. JDM Reef Capital funding is independently owned by JDM Capital, Inc. and their associates.
Red Reef Labs is a specialized chemicals company dedicated to develop and apply advanced decontaminates for the remediation of polluted environments. Most Red Reef Labs' products are considered environmentally benign and human friendly when compared to some competitors' products, generally used in surface decontamination. The joint venture is committed to green standards and protocols.
Forward-Looking Statements
Certain statements in this news release may contain 'forward-looking' information within the meaning of the Federal securities laws. All statements, other than statements of fact, included in this release may include forward-looking statements that may involve risks and uncertainties. There can be no assurance that such statements will be accurate and actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances or to reflect unanticipated events or developments.
To access more information, please visit our web sites at www.rrlabs.biz and www.jdmcorp.org.