360 VOX Corporation

TSX VENTURE : VOX


360 VOX Corporation

March 27, 2014 16:00 ET

360 VOX Corporation Announces Additional Investment in Clearpoint Resort Limited

TORONTO, ONTARIO--(Marketwired - March 27, 2014) - 360 VOX Corporation (TSX VENTURE:VOX) - 360 VOX Corporation ("360 VOX") announced today that it has, through its subsidiary, made additional investments in Clearpoint Resort in Cavtat, Croatia ("Clearpoint"), raising its interest in its holding company, Clearpoint Resort Limited Malta ("CRLM") to 67.73%.

Clearpoint will be a master-planned hotel, marina and recreational residential development that envisages a mix of private apartments, townhomes and luxury villas, on over 100,000 m2 in Cavtat, Croatia, near Dubrovnik. CRLM has identified and acquired certain lands in respect of the project.

The additional investment made via two tranches of EUR75,000 and EUR250,000 was made to satisfy certain working capital obligations.

On Behalf of the Board of Directors

Robin Conners, President and CEO

About 360 VOX: 360 VOX is a publicly traded company, incorporated under the laws of Ontario and listed on the TSX Venture Exchange under the symbol "VOX". 360 VOX is engaged in the business of managing and developing international hotel, resort, residential and commercial real estate projects through its wholly-owned subsidiaries. 360 VOX is also engaged in the sales and marketing of real estate through Sotheby's International Realty Canada and Blueprint Global Marketing.

This news release contains forward-looking statements and information within the meaning of applicable securities legislation. These statements reflect managements' current expectations, estimates, projections, beliefs and assumptions that were made using information currently available to management. In some cases, forward-looking statements can be identified by terminology such as "may", "will", "expect", "plan", "anticipate", "believe", "intend", "estimate", "predict", "forecast", "outlook", "potential", "continue", "should", "likely" or the negative of these terms or other comparable terminology. Forward-looking statements include statements with respect to, the negotiating and entering into of agreements, the terms of the proposed transaction, and the effect of completing the proposed transaction, and are based on assumptions that management jointly believe are reasonable. These statements are not guarantees of future results and are subject to numerous risks and uncertainties, which may cause actual results or events to differ materially from current expectations, including that the parties may not reach agreement on the terms of the proposed transaction or there may be changes to the terms of the transaction from those in the letter of intent, or if agreements are entered into, any required consents or approvals may not be obtained or obtained in a timely manner and any conditions may not be satisfied or the transaction may not be completed for other reasons. Although management jointly believes that the anticipated future results, performance or achievements expressed or implied by the forward-looking statements and information are based upon reasonable assumptions and expectations, the reader should not place undue reliance on forward-looking statements and information because they involve assumptions, known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements to differ materially from anticipated future results, Neither the TSXV nor its Regulation Service Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy and accuracy of this release.

Contact Information

  • 360 VOX Corporation
    Colin Yee
    Chief Financial Officer
    514-987-6452