SOURCE: Prevention Insurance

August 14, 2007 10:47 ET

Prevention Insurance Agrees to Grant an Extension to Shanghai Shenyin Developing

LAS VEGAS, NV--(Marketwire - August 14, 2007) - Prevention Insurance (OTCBB: PVNC) announces that the company has agreed to extend its agreement to merge with Shanghai Shenyin Developing Company, which is a major producer of pulp, paper, and fine furniture in China. Prevention has received audited financials from last year but are still waiting on the last two quarter statements from the company. The extension was granted to allow enough time for the necessary financials, documents, and approvals required to complete the transaction. No definitive time for closing has been set but 60 days or less is the period of the extension.

About Prevention Insurance:

Prevention Insurance is a public insurance holding company that is in negotiations to merge with opportunities that will help the company expand into the global markets.

Safe Harbor Statement:

Forward-looking statements and comments in this news release are made pursuant to safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements, other than statements regarding potential future plans and objectives of Prevention Insurance are forward-looking statements. Such statements are necessarily subject to risks and uncertainties, some of which are significant in scope and nature beyond Prevention Insurance's control. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially depending on many factors, including those described above. Prevention Insurance cautions that historical results are not necessarily indicative of the company's future performance.

Contact Information

  • Contact:
    Prevention Insurance
    Scott Goldsmith
    (702) 732-2758
    Email Contact