SOURCE: Microholdings US

January 10, 2011 09:40 ET

Microholdings US, Inc. Completes Agreement to Purchase ConnectIT Networks Inc.

VANCOUVER, WA and PORTLAND, OR--(Marketwire - January 10, 2011) - Microholdings US (PINKSHEETS: MCHU) announced today that it has completed its agreement to purchase ConnectIT Networks Inc., as scheduled. Microholdings US is a Public Holding Company positioned for new mergers and/or acquisitions. 

ConnectIT Networks, Inc. is an innovative business Information Technology Support and Service Company based on the belief that a Managed Service Provider can provide quality outsourced IT support, network system monitoring and service.

James Wheeler, Chairman/CEO, stated: "We are pleased to announce we have completed the agreement to purchase ConnectIT Networks Inc. This is our second completed acquisition and we feel that this will increase the revenue of Microholdings in the upcoming year; management also believes it will bring additional shareholder value to MCHU." The purchase closed on January 1, 2011.

About Microholdings US, Inc.

Microholdings US, Inc., incorporated in the state of Oklahoma, has been in operation since October 1998. It is currently a publicly traded OTC company, trading under the symbol: MCHU. For the latest information on Microholdings US Inc. contact or visit our web sites, 

About ConnectIT Networks, Inc:

ConnectIT Networks, Inc. is an innovative business Technology Support and Service company based on the belief that a MSP (Managed Service Provider) can provide quality outsourced IT (Information Technology) support and service to SMB companies who operate or need to operate their business electronically. ConnectIT Networks, Inc. provides real-time network and systems monitoring, reporting and technical support for its customers, as well as remote help desk support and on-site support services.

ConnectIT Networks, Inc. has strong technology partnerships with industry leaders such as Cisco Systems, Dell Computers, and Microsoft Technologies.

Certain Information
Investors are cautioned that certain statements contained in this document as well as some statements in periodic press releases and some oral statements of MCHU officials are "Forward-Looking Statements": within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). Certain statements in this news release may contain forward-looking information and are based on Management's current expectations, estimates and projections subject to change. Words such as "anticipates," "expects," "intends," "plans," "targets," "projects," "believes," "seeks," "estimates" and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, some of which are beyond our control and are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. You should not place undue reliance on these forward-looking statements. Unless legally required, the Company undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise. The Company disclaims any information that is created or distributed by any outside party and endorses only information that is communicated by its official Press Releases.

Contact Information

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