SOURCE: Omninet, Inc.

October 25, 2007 16:43 ET

Omninet, Inc. Announces the Signing of a Merger Agreement With AQUAGOLD International, Inc.

SANTA ANA, CA--(Marketwire - October 25, 2007) - Omninet, Inc. (PINKSHEETS: ONMC) today announces its new merger partner to be AQUAGOLD International Inc. of Montreal, Quebec, Canada. AQUAGOLD International Inc. is the owner of the "AQUAGOLD" label of spring water presently being shipped to China and soon to enter markets in the South Pacific Region.

"AQUAGOLD" branded premium Canadian Spring Water is presently being shipped into China. In 2005, sales of bottled water in China experienced strong growth of 16% (liters) and 15% (RMB/$) to reach 11.2 billion liters and RMB24.1 billion or $3.17 Billion USD in volume and current value terms. The estimates on AQUAGOLD'S China contract alone exceed $500 Million in revenues, however how much in excess will follow in the near future resulting from ongoing marketing activities such as the upcoming trade show in Shanghai, China over the coming few weeks.

AQUAGOLD International, Inc. also has a strong marketing, product support and thus market growth plan. This plan is being executed by not only growing and gaining distribution throughout China and the rest of Asia but also through growing market share in each of these markets with a huge opportunity coming when the Chinese Capital City of Beijing will be hosting the 2008 Summer Olympic Games.

Mr. Jesse Rodriguez, elected interim Chairman and CEO, says, "I feel great about announcing AQUAGOLD International, Inc. and its 'AQUAGOLD' Canadian Spring Water line of products as the right merger candidate to bring strong value to our shareholders. Throughout the merger process the AQUAGOLD management team, lead by AGUAGOLD President and CEO Manuel DaSilva, has displayed the leadership required to sustain continued growth."

Mr. Manuel DaSilva, President & CEO of AQUAGOLD International, Inc., says, "We are excited to join Omninet in a new beginning with a mutual goal of sustained growth, shareholder value and success. I look forward to leading this newly merged company into the future."

About Omninet, Inc.

Omninet, Inc. is a development stage corporation mandated by its shareholders to seek out business opportunities to acquire or merge with to create value for its shareholders.

For more information available to the public, contact the investor relations dept. at 949-666-5141.

Forward-Looking Statements

This news release contains forward-looking statements made by Omninet, Inc. in reliance upon the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All such statements included in this press release, other than statements of historical fact, are forward-looking statements. Although Management believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Actual results may differ materially from those indicated by these statements. The following risk factors, among others, could cause actual results to differ materially from those described in any forward-looking statements. These risks and uncertainties include, but are not limited to, economic conditions, changes in the law or regulations, demand for products and services of the company, the effects of competition and other factors that could cause actual results to differ materially from those projected or represented in the forward looking statements. Forward-looking statements are typically identified by the words: believe, expect, anticipate, intend, estimate, and similar expressions or which by their nature refer to future events.

Contact Information

  • Company Contact:
    Jesse Rodriguez