SOURCE: Grand Lux, Inc.

July 18, 2005 08:00 ET

Grand Lux, Inc. Signs Letter of Intent to Purchase World Hockey Association Corporation

ORLANDO, FL -- (MARKET WIRE) -- July 18, 2005 -- Grand Lux Inc. (OTC: GRDX), today announced that it has signed an letter of intent (LOI) with World Hockey Association Corporation to purchase the company for stock. Upon completion, the present board of directors of Grand Lux, Inc. will resign and be replaced by the directors of World Hockey Association, which includes among others R. (Butch) Goring and Robert Marvin Hull.

Grand Lux, Inc. will be spinning out all current assets into Marinas International Inc. and will provide Grand Lux, Inc. shareholder a one (1) share dividend of Marinas International Inc., for every ten (10) shares of GRDX. The Marinas International Inc. new symbol and dates will be announced in the near future as they become available.

About Grand Lux, Inc.

Grand Lux, Inc. is a company that focuses on upscale real estate development around the world. Its emphasis is on building marinas for large yachts, being 160 feet and above, and developing and pre-selling real estate whether condos or villas to the yacht owners. The benefits of our company offerings are manifold. It is a recession-proof industry and many yacht owners have already expressed a strong interest in purchasing berths in the marinas. Thus, appropriate real estate will be developed to meet their needs.

Safe Harbor Forward-Looking Statements

Statements contained in this release that are not strictly 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. The forward-looking statements are made based on information available as of the date hereof, and the company assumes no obligation to update such forward-looking statements. Editors and investors are cautioned that such forward-looking statements invoke risk and uncertainties and the company's actual results may differ from these forward-looking statements. Such risks and uncertainties include but are not limited to demand for the company's products and services, our ability to continue to develop markets, general economic conditions, our ability to secure additional financing for the company and other factors that may be more fully described in reports to shareholders and periodic filings with the Securities and Exchange Commission.

Contact Information

  • Contact:
    Jonathan McPherson
    10151 University Blvd.
    Orlando, Florida 32617
    Phone: 212-561-0762
    Email: Email Contact