SOURCE: EZ2companies, Inc.

December 06, 2006 09:30 ET

EZ2companies, Inc. Announces Execution of Letter of Intent

MIAMI, FL -- (MARKET WIRE) -- December 6, 2006 -- EZ2Companies, Inc. (PINKSHEETS: EZTO) (the "Company") announced today that it has entered into a Letter of Intent with Western Hemisphere Petroleum, Inc. ("Western Hemisphere").

The Company has agreed to acquire all of Western Hemisphere's equity in exchange for a number of shares of the Company's common stock to be determined upon the execution of a definitive agreement between the parties. Closing of the transaction is conditioned upon, among other items, the consent of the Company's largest creditor.

The Company's CEO, Francisco Acosta Coloma, commented; "We believe the acquisition of Western Hemisphere will complement the Company's recent business shift toward petroleum related operations." Following, the closing, Western Hemisphere will become a wholly owned subsidiary of the Company.

Forward-Looking Statements

Certain statements in this release, and other written or oral statements made by the Company, including the use of the words "expect," "anticipate," "estimate," "project," "forecast," "outlook," "target," "objective," "plan," "goal," "pursue," "on track," and similar expressions, are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance, or achievements of the company to be different from those expressed or implied. The Company assumes no obligation and does not intend to update these forward-looking statements. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include, without limitation: competitive and general economic conditions, adverse effects of litigation, the timely development and acceptance of services, significant changes in the competitive environment, the failure to generate or the loss of significant numbers of customers, the loss of senior management, increased government regulation or the company's failure to integrate its acquired companies to achieve the synergies and efficiencies described in the "Management's Discussion and Analysis" section of the Company's Form 10-KSB and other reports and filings with the Securities and Exchange Commission, which may be revised or supplemented in subsequent reports on SEC Forms 10-QSB and 8-K.

Contact Information

  • Jeff Berkowitz
    EZ2companies, Inc.