SOURCE: General Ventures, Inc.

August 08, 2005 08:00 ET

General Ventures, Inc. Receives $1.5 Million Loan

FRESNO, CA -- (MARKET WIRE) -- August 8, 2005 -- General Ventures, Inc. (OTC: GVSI) announces that it has received a second round of financing for $1.5 million from Lomarey Financial for its commercial development subsidiary, Kettlemen City Commercial, LLC.

Tariq J. Faridi, President and Chief Executive Officer, commented, "The loan will be used to complete the biological report, topo survey and soil test report; pay the first mortgage, engineering and architectural fees; and for site clearing, lot identification and roadway, tentative site map, site plan, site clearing and street improvements, and to complete the purchase of the adjacent 5 acres."

"The Traveler's Haven," now a 28.74-acre commercial real estate development, is strategically located at the midpoint between Los Angeles and San Francisco at the intersection of Interstate 5 and Highway 41 in Kettleman City, California. With the use of these funds, the company will be able to subdivide this property into an eight-lot commercial subdivision for "build-to-suit" development including a Hotel, Restaurant, Gourmet Coffee Shop, Truck Stop, Service Station and Mini-Mart. This will quadruple the land value from a single 28-acre raw land parcel to a final map-ready, engineering-drawing-ready, 8-lot build-to-suit commercial subdivision.

About General Ventures, Inc.

General Ventures, Inc., a Nevada Corporation with offices in Fresno, California, currently trades on the pinksheets (OTC: GVSI). General Ventures intends to become a fully integrated real estate development company that will acquire land and develop, redevelop, and manage Commercial, Residential and Industrial subdivisions in the West Coast, initially and nationwide, eventually.

Forward-Looking Statements

The statements which are not historical facts contained in this release such as the company's beliefs and expectations regarding the Traveler's Haven, are forward-looking statements that involve risks and uncertainties, which could cause actual results to be different than such forward-looking statement including, but not limited, to unexpected changes in travelers traveling habits, unexpected changes in demand for the products and services Traveler's Haven intends to offer, and risks that will be detailed in the Company's Securities and Exchange Commission filings. All forward-looking statements are made as of today, and the Company assumes no obligation to update this information. For more details relating to risk and uncertainties that could cause actual results to differ materially from those anticipated in our forward-looking statements, and risks to our business in general, please refer to our future SEC filings. The company has no requirements since its shares are currently traded on the pinksheets, including our future anticipated Report on Form 10-K for the year ended December 31, 2004, and Form 10-Q for the period ending, March 31, 2005.

Contact Information

  • For further information, please contact:
    Tariq J. Faridi
    (559) 250-1323
    email: Email Contact