SOURCE: Infinity Capital Group, Inc.

February 27, 2009 14:51 ET

Infinity Capital Group Announces Lapsing of Merger & Investment Term Sheet With Infotech Global, Inc. and Infinity Portfolio Company NPI08

NEW YORK, NY--(Marketwire - February 27, 2009) - Infinity Capital Group, Inc. (OTCBB: ICGP) ("Infinity"), a business development company and public reverse merger investor, announced today that its merger and investment term sheet with Infotech Global, Inc. ("IGI"), a privately held Piscataway, NJ-based company, has expired.

The term sheet provided that IGI would merge with NPI08, Inc. (PINKSHEETS: NPIE), a Portfolio Company of Infinity Capital, subject to Infinity's due diligence review and the arrangement of capital. Infinity was unable to enter a formal merger agreement with IGI during its exclusivity period under the term sheet. Infinity is continuing to negotiate with IGI and is currently evaluating several investment opportunities potentially looking to go public via a strategic merger/recapitalization with NPI08, Inc.

About Infinity Capital Group, Inc.

Infinity Capital Group is a business development company that provides early-stage or mezzanine financing and management assistance to emerging growth companies. The company typically invests in companies that intend to go public through an IPO or by a reverse merger with an already public firm. It also funds small public companies that are undergoing significant change in strategy. Investments by Infinity are not limited to any particular industry.

For more information or to receive future press releases, go to Infinity's website through the following link: http://www.infinitybdc.com/contact.php.

This press release contains "forward-looking statements" within the meaning of various provisions of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, commonly identified by such terms as "believes," "looking ahead," "anticipates," "estimates" and other terms with similar meaning. Although the company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct. Such forward-looking statements should not be construed as fact. The information contained in such statements is beyond the ability of the Company to control, and in many cases the Company cannot predict what factors would cause results to differ materially from those indicated in such statements. All forward-looking statements in the press release are expressly qualified by these cautionary statements and by reference to the underlying assumptions.

Contact Information

  • Contact:
    Greg Laborde
    Chairman & CEO
    Infinity Capital Group, Inc.
    212-962-4400
    Email Contact