SOURCE: Premiere Opportunities Group, Inc.

July 14, 2011 08:45 ET

Premiere Opportunities Group, Inc. Closes Business Combination Between Luminx Holdings Inc., and Upside Purchase Corp., Inc., a Wholly Owned Subsidiary of Premiere Opportunities Group, Inc.

TOTOWA, NJ--(Marketwire - Jul 14, 2011) - Premiere Opportunities Group, Inc. (OTCQB: PPBL) (OTCBB: PPBL) is pleased to announce the closing of a business combination between Luminx Holdings, Inc. and Upside Purchase Corp., a wholly owned subsidiary of Premiere Opportunities Group, Inc.

Luminx Holdings, Inc. is a multi-faceted company in the LED lighting and advertising business and expects to exploit the opportunities in the industry thru a multi-pronged approach.

Firstly, Luminx thru its Quantum Advertising subsidiary will finance, supply and install LED signage in the nation's number one outdoor advertising market New York City thru a joint venture it has with Lamar Advertising Company, the nation's largest outdoor advertising company. Lamar thru its large database of clients will supply the joint venture with its advertisers. Each location would be a multi-million dollar contract and generate substantial profit for Luminx Holdings, Inc.

Luminx is in the process of finalizing agreements for several locations in NYC which will act as the foundation for the expansion of this multi-million dollar opportunity throughout the country.

Secondly, Luminx Industries, a wholly owned subsidiary of Luminx Holdings, Inc., thru a technology partnership with an overseas group will manufacture and distribute LED lighting for both the home and commercial markets thru established relationships it has with mass-merchandizers, discount stores, retailers and supermarkets.

A mandate to phase out the use of traditional light bulbs is due to become effective in 2012, requiring that all light bulbs manufactured are 30% more efficient. Ahead of this, retailers like IKEA have halted sales of conventional light bulbs in favor of LED lighting, halogen light and solar powered lights. While there is no specific ban on incandescent light bulbs and in spite of the mandate becoming a political football, officials and retailers are both keen to start the transition and encourage energy saving. Independent surveys show that an overwhelming majority of consumers favor the LED option over incandescent standard. Manufacturers such as Osram Sylvania, Phillips and GE are proponents of the change and are gearing up for the transition according to industry insiders.

Lastly, Superior Digital Display will distribute and install LED signage in the USA in conjunction with an exclusive distribution arrangement it has with a Hyoco LED Display Company, a Taiwanese manufacturer of LED signage. In conjunction with the Quantum Advertising subsidiary will allow Luminx Holdings, Inc. to take full advantage of any advertising opportunity in a given market.

Chris Giordano, Premiere's Co-Chairman, said, "We are pleased to have closed our first client relationship and are excited to be working with Luminx and its management team in taking full advantage of the opportunities that are present in the LED markets.

"In staying with our plan to act as advisors to small market companies I am also pleased to say that we are in late stage discussions with several other companies and hope to report back our progress in the not too distant future."

Contact Information