SOURCE: Microholdings US

November 10, 2010 12:37 ET

Microholdings US, Inc., a Publicly Traded Pink Sheets Company, Announced Today That It Has Signed a Letter of Intent to Purchase ConnectIT Networks, Inc.

VANCOUVER, WA and PORTLAND, OR--(Marketwire - November 10, 2010) - Microholdings US (PINKSHEETS: MCHU) announced today that it has signed a letter of intent to purchase ConnectIT Networks, Inc.

James Wheeler Chairman/CEO stated: "We have signed the letter of intent and are currently finalizing our due-diligence on ConnectIT Networks Inc.; once this is complete to our satisfaction we will complete the transaction." Wheeler continues: "We believe we should be able to complete the acquisition within the next few weeks." MCHU continues to work on an additional acquisition and hopes to bring it to a conclusion within the next 10 days. For more information on Microholdings US contact investor@microholdingsus.com or for information on ConnectIT Networks, Inc. go to www.connectitnetworks.com

About Microholdings US:
MICROHOLDINGS US, INC. IS INCORPORATED IN THE STATE OF OKLAHOMA AND HAS BEEN IN OPERATION SINCE OCTOBER 1998. IT IS CURRENTLY A PUBLICLY TRADED COMPANY, TRADING ON PINK SHEETS UNDER THE SYMBOL: MCHU.PK.

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, Microsoft, Barracuda Networks, Acronis, VMWare, Panterra Networks & N-able 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

  • Contact Information:
    Microholdings US
    Vancouver, WA
    James Wheeler
    Chairman & CEO
    (Tel) 360-334-6400
    E-mail: Email Contact