SOURCE: Atlantis Business Development Corp

November 29, 2006 13:00 ET

Atlantis Business Development Corporation, Inc. Signs LOI to Acquire 20% Interest in SkyGuard Global, Inc.

MIAMI, FL -- (MARKET WIRE) -- November 29, 2006 -- Atlantis Business Development Corporation, Inc. (OTCBB: ABSD) has announced the signing of a Letter of Intent (LOI) for its proposed Acquisition of a 20% Interest in SkyGuard Global, Inc. A final formal agreement detailing specific transaction terms will be signed at a later date.

In commenting regarding the transaction, Atlantis CEO Christopher Dubeau noted, "Our proposed acquisition of a 20% Interest in SkyGuard Global will be a great business opportunity for both firms. It will allow each business to focus on their unique business specializations. Further, we are eager to begin working with the Management Team from SkyGuard Global, Inc. As we have previously announced, Atlantis Business Development Corporation has named SkyGuard's Joseph Celano and Lee Manko as Directors of the Atlantis wholly owned subsidiary, EFTAS."

About SkyGuard Global, Inc:

SkyGuard Global, Inc. (http://www.skyguardglobal.com) provides solutions for intelligent safety, security, and incident response for buildings, stadiums, rail, oil & gas, seaports, and borders. Its real-time web-based collaborative geo-spatial platform permits local and remote teams to display and share information from sensors, control systems, and databases so the right information gets to the right people to make timely decisions. SkyGuard Global is headquartered in San Diego, California and conducts business in the Americas, Europe, and Asia Pacific.

About Atlantis Business Development:

Atlantis Business Development Corporation, Inc. (OTCBB: ABSD)

The Company (http://www.atlantisbdc.com) has elected to be regulated as a business development company in accordance with the provisions of the Investment Company Act of 1940, as amended. The business development company form of business is a vehicle established by Congress to allow smaller, retail investors to participate in and benefit from investing in small private businesses as well as the revitalization of larger private companies. As a business development company, ABSD is engaged in providing debt and equity financing to public and private companies, as well as private equity funds, for working capital, acquisitions, management buyouts, projects and special situations. ABSD offers its clients a "one stop shop" of equity and senior, subordinated, structured and mezzanine debt to realize their business development objectives.

ABSD plans to achieve the level of success and implement a growth strategy similar to other established business development companies, such as American Capital Strategies, Ltd., listed on the NASDAQ, a publicly traded business development company with capital resources of approximately $8.4 billion (http://www.americancapital.com).

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Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained in this news release include certain predictions and projections that may be considered forward-looking statements under securities law. These statements involve a number of important risks and uncertainties that could cause actual results to differ materially including, but not limited to, the performance of joint venture partners, as well as other economic, competitive and technological factors involving the Company's operations, markets, services, products and prices.

With respect to Atlantis Business Development Corp. (ABSD), except for the historical information contained herein, the matters discussed in this news release are forward-looking statements involving risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. Potential risks and uncertainties include, but are not limited to, ABSD's extremely limited operating history. Further, there are uncertainties that exist related to the Company's access to additional capital, the competitive environment, and dependence on key management.

Contact Information

  • Additional Information:

    Christopher Dubeau
    CEO
    305-677-3111