LOS ANGELES, May 9, 2012 (GLOBE NEWSWIRE) -- Convenience TV Inc. (OTCBB:CRPZ) wishes to announce that it has reached a joint venture agreement with Culinary Truths™ to tap into the multi-million dollar organic food industry for the Culinary Truths™ brand of products, the first of which is "The World's Most PERFECT Cinnamon™".
CTVI President and CEO Norman Knowles and Culinary Truths President Dr. Darin Gunesekera agree that this is an excellent fit for both parties. "CTVI has the capability and expertise to develop the market and support the project. We can use our expertise in digital networks to connect Culinary Truths products directly to the customer through the placement of screens and shelf talkers in retail locations. The network will also present valuable background content on the products to enhance the knowledge of the customer," said Mr. Knowles. "For us," said Dr. Darin, "our goal is one of Social Responsibility, and the opportunity to generate sales of our highest quality Organic Cinnamon and promote public knowledge at the same time, is a wonderful benefit." He went on to add "It is very important for the public to hear our story, that we have created a company that will help the marginalized workers in a modern plant, with hygienic working conditions, and proper pay to support their families. Let us say that it is a far cry from the way others operate. We are so very proud of what we have accomplished, that we like to call it 'The World's Most PERFECT Cinnamon'."
As part of the joint venture CTVI will provide additional sales efforts for which it will receive a commission, it will also provide its digital network expertise and signage at reduced rates. Culinary Truths will supply the cinnamon on a consignment basis. Culinary Truths will be responsible for the costs associated with the selling of the cinnamon including the placement of screens and the digital network. CTVI will have the ability to sell additional third party advertising when available.
"We look forward to working with Dr. Darin," said Mr. Knowles. "He is world renown for his work and dedication to the underprivileged and we feel this collaboration will be a way for us to contribute to sustainability."
About Culinary Truths
Dr. Gunesekera, or Dr. Darin as he is widely known, formed the Culinary Truths brand (www.culinarytruths.com) in order to offer a top-grade of Sri Lanka Cinnamon to the North American market with later expansion to South America and Europe.
He received his Doctorate degree in Economics from Yale University. He originated a concept for sustainable Slum and Shanty dweller re-housing using the Capital Market in 1998. His project, advising the Sri Lanka Government, was REEL, which completed its first cycle of re-housing and land liberation in 2000. He followed this by refining his concept, called the S-REIT or Social Real Estate Investment Trust, which was adopted as a best practice by UNHABITAT (2008). And in July 2009, through an independent Jury under UNHABITAT, it was given a Business Award as one of the Five Best practices in the World in the field of Affordable Housing.
He was made the first Fellow from Sri Lanka by Ashoka: Innovators for the Public of Washington, DC in 2003. In 2006, his now internationalised work was recognized by the Skoll Foundation (USA) an organization recognizing only 30 globally.
His first public project was as Secretary General setting up the Colombo Stock Exchange and the Securities Council. He is well known in Kenya when he became Capital Markets Authority Advisor and worked on the Nairobi Stock Exchange, to modernize the system. As the Kenyan system increased several times to be a leading African stock exchange, he was also the first Secretary of the African Stock Exchanges Association. Following this, he was Privatisation Advisor to the Government of Uganda and helped the Ministry to launch public auctions and move privatizations to the public route. He has been awarded the "Bourse de Bourses" medal by the Paris Stock Exchange (with the FIBV, world federation).
About Convenience TV Inc.
Convenience TV is focused on the Convenience Store Industry and provides their clients with an "in-location" TV network. The Network is designed to deliver both entertaining content and targeted advertising on a demographic basis to each retail location. In addition, the Network delivers promotional advertising tied to products within the retail location. The programming can be up-dated quickly and is tailored to meet the specific clients' need for increased sales, customer enjoyment and brand reinforcement.
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