TOTOWA, N.J., Aug. 18, 2010 (GLOBE NEWSWIRE) -- Premiere Publishing Group, Inc.'s (OTCQB:PPBL) CEO, in response to many inquiries, released today a corporate update to shareholders:
"In recent weeks, we have been getting a large amount of inquiries and questions from new shareholders as well as the global finance community. In an effort to hopefully answer a majority of those questions, we feel a release was warranted and timely.
"The recent surge in share price is welcome and we appreciate your confidence in our team. We will continue to work hard and diligently to maintain your confidence and support. We have received a number of queries as to the capitalization of the company and as it relates to the past, the company has been financed primarily by one of our directors and the company has never sought outside financing.
"In regards to the future, the company is currently working on several new projects that will require financing but will be done specifically in our subsidiaries and not at the parent level of Premiere Publishing Group, Inc. In this manner, we will avoid any further dilution to our current shareholders for at least the remainder of the year and possibly into 2011.
"We expect that the only reason there would be any dilution at the parent level is in the event we found an acquisition candidate that met our criteria and in conjunction with our creditors and banking team, put together a deal that would generate significant shareholder value. We are actively reviewing several candidates and will continue to do so until we find the acquisition(s) that are the most meaningful to our shareholders.
"We thank all of our shareholders for their confidence and we look forward to the future and our mutual prosperity."
Regards
Chris H. Giordano
Chairman
Premiere Publishing Group, Inc.