SOURCE: Domark International, Inc.

April 21, 2009 09:18 ET

DoMark International, Inc. Executes Memorandum of Agreement to Acquire Victory Lane

A Unique Lifestyle Community With a Fully Completed Project Value of $300M

ORLANDO, FL--(Marketwire - April 21, 2009) - DoMark International, Inc. (OTCBB: DOMK) announced today that it has executed a Memorandum of Agreement to acquire Victory Lane, LLC.

Victory Lane is a unique and exclusive Lifestyle Development on 3,000 acres approximately 75 miles from Savannah, Georgia, which includes exclusive home sites, a 4.5-mile grand prix circuit, a Davis Love III designed golf course and a 6,000' private runway.

Based on representations of Victory Lane LLC management, the current appraised value of the property is $16 million, and when fully developed and sold, management believes the project will yield revenue of $172,000,000 and Net Income of $80,000,000. Of course management cannot give any assurance that these goals will be achieved. Total project value when fully completed is estimated at over $300,000,000.

The closing of the transaction is subject to the execution of definitive documents, completion of due diligence, completion of an independent valuation report, and the satisfaction of certain conditions.

R. Thomas Kidd, Chief Executive Officer of DoMark International, Inc., stated, "The Victory Lane project is very accretive to our balance sheet and revenue growth. Its uniqueness and appeal is unparalleled. We look forward to welcoming Patrick Costello and Victory Lane into the DoMark family of companies."

Patrick Costello, CEO and Founder of Victory Lane, said, "Our unique high-end development caters to those who settle for nothing but the best. The limited availability and access to this private and exclusive lifestyle will only be available to a select few. Forty-one of the 122 lots are already under contract, and we expect the balance will move quickly as the full scope of construction commences. I look forward to working with DoMark and its team of highly-seasoned professionals in the completion of our Victory Lane project, as well as the launch of additional niche projects around the world."

The late Phil Hill, former World Champion and Victory Lane advisor, explained, "I have had the privilege in my life to professionally race the most incredible automobiles on the world's most prestigious tracks. The highlight of my racing career was winning the 1961 Formula One World Driver's Championship with Ferrari. I now consider it an honor to be on another winning team. Our team has created what I believe to be the ultimate lifestyle development for motor sports enthusiasts and their families. Victory Lane is an unprecedented opportunity to own a part of history. The 3,000-acre complex in Georgia is created for 122 families and their guests and features a number of world-class amenities. But the real treasure is the Motor Sports Complex. Victory Lane is building a track that will offer an enduring challenge to any driver who can explore the limits with a high degree of safety built in. Offering a multitude of layouts and corners, the 4.5-mile course presents both the journeyman driver and the most skilled professional endless hours of training and fun."

PGA legend Davis Love III insists, "Great sites allow for great golf courses and we've got a great site at Victory Lane. The land at Victory Lane is unbelievably good for golf -- gently rolling sand hills covered by native oaks and scrub pines, plus the elevation changes are ideal for us to create a full variety of wonderful golf holes. Perfect soil conditions and a blend of different playing environments have led us to an exciting design."

About Victory Lane

Victory Lane is an exclusive 3,000-acre residential community located approximately 1 hour west of Savannah/Hilton Head International Airport. The community features 122 single-family home sites, a 6,000 ft. FAA-approved runway, an 18-hole Hanse/Love signature golf course together with a 20,000 square foot full-service clubhouse, the Phil Hill Motor Sports Complex, an equestrian center, two motorsports lakes and several stocked fishing lakes. A state-of-the-art security system and onsite security guards will protect the entire community. Residents of Victory Lane will be provided access to a video web portal which will permit them to view their property and its amenities from anywhere in the world. For more information, visit www.victorylanegeorgia.com or www.unlimitedspeed.net

About DoMark International, Inc.

DoMark International, Inc., www.domarkinternational.com, is traded under the symbol DOMK on the OTC Bulletin Board and is engaged in a business strategy of acquiring private and public entities, and then managing and deploying assets as well as shared services to its majority owned entities in Technology, Medicine, Business Services, Sports, and Alternative Energy. Currently DoMark owns Javaco, Inc. www.javacoinc.com and www.shopjavaco.com, Crowley and Company Advertising www.crowleyadvertising.com, Emerging Growth Advisors www.egadvisors.com/management.html, Executive Sports and Entertainment www.ese-global.com and ECFO Corporation www.ecfocorp.com. DoMark also recently formed MedQuest, Inc. for purposes of effecting acquisitions in the medical sector. DoMark also holds an exclusive license to produce, manage and market made for Television Golf Championships to be launched late 2009 and early 2010.

Forward-Looking Statements

The statements contained in this news release that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended, and are intended to be covered by the safe harbors created thereby. Forward-looking statements deal with the Company's current plans, intentions, beliefs and expectations. Investors are cautioned that all forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, those discussed from time to time in reports filed by the Company with the Securities and Exchange Commission.

Contact Information

  • CONTACT:
    Rich Inza
    1-866-965-3665