SOURCE: Cinnabar Ventures, Inc.

Cinnabar Ventures, Inc.

March 02, 2010 16:31 ET

Cinnabar Ventures, Inc. Acquisition of Advanced Network Solutions, Inc. Is Finalized

FORT MYERS, FL--(Marketwire - March 2, 2010) - Cinnabar Ventures, Inc. (OTCBB: CNBR) ("Cinnabar" or the "Company") www.cinnabarcompany.com announces the completed acquisition of Advanced Network Solutions, Inc., www.rentagenius.com, which is doing business as Rent a Genius. According to the terms of the transaction, Advanced Network Solutions, Inc. is now a wholly-owned subsidiary of Cinnabar.

"The finalized acquisition ensures that Cinnabar's business footprint is expanding in the Southeast to support our customers and the Yippy network itself," said Richard Granville, Chief Executive Officer of the Company. "The integration of these two companies saves Cinnabar hundreds of thousands of dollars in start-up costs and ensures that highly qualified people are in place to support the deployment of our network."

"We are excited that this acquisition is finalized and look forward to working with Cinnabar to ensure that the Yippy Application Services Environment becomes the gold standard in cloud-based computing," said Ike Kaplan, Chief Executive Officer, Advanced Network Solutions, Inc. Advanced network Solutions was founded in 1996 and specializes in providing the systems and training companies require to work and maintain efficient growth.

Rick Lisa, the Company's President and Chief Operating Officer, added, "The completion of the Advanced Network Solutions acquisition is critical to the operation of the Company. The talent and resources we have brought into Cinnabar ensures that we will be able to rapidly deploy both consumer and business to business capabilities."

About Cinnabar Ventures, Inc.

Based in Fort Myers, Florida, Cinnabar Ventures, Inc., www.cinnabarcompany.com, is a new economy technology company that develops technologies and relationships for Web-OS systems in the Cloud computing sector.

Forward-Looking Statements

Pursuant to The Private Securities Litigation Reform Act of 1995: The statements in this press release that relate to the Company's expectations with regard to the future impact on the Company's results from new products in development are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are subject to risks and uncertainties. Words such as "expects," "intends," "plans," "may," "could," "should," "anticipates," "likely," "believes" and words of similar import also identify forward-looking statements. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined and assumptions of management. Readers are urged not to place undue reliance on the forward-looking statements, which speak only as of the date of this release since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. We assume no obligation to publicly update or revise any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release, even if new information becomes available in the future. Additional information on risks and other factors that may affect the business and financial results of Cinnabar Ventures, Inc. can be found in the filings of Cinnabar Ventures, Inc. with the U.S. Securities and Exchange Commission.

Contact Information

  • CONTACT:
    Nancy Tamosaitis-Thompson
    Vorticom, Inc.
    212.532.2208
    Email Contact