SOURCE: PrimEdge, Inc.

April 16, 2007 08:40 ET

PrimEdge, Inc. Board of Directors Engages Gulfstream Capital Group to Identify Acquisitions; PrimEdge in Discussions With Dominant Player in Its Market Space

BOCA RATON, FL -- (MARKET WIRE) -- April 16, 2007 -- PrimEdge, Inc. (PINKSHEETS: PEDG) announced today that its Board of Directors has approved an agreement with Gulfstream Capital Group, L.C., a privately held mergers and acquisitions firm, to identify public and private companies meeting PrimEdge's core acquisition initiatives. This agreement calls for Gulfstream to primarily focus on companies that can benefit from an acquisition that will enhance economies of scale, and that are currently experiencing exponential revenue growth in their sector and offer proprietary services. Such acquisitions will be in industries identical or related to those of PrimEdge's subsidiaries, Orangebox Entertainment, Inc., and DigiKidz, Inc., and may be anywhere in the U.S. Further terms of the agreement with Gulfstream were not disclosed.

Gulfstream has already introduced PrimEdge to one particular company, dominant in its market space, which has already expressed interest in such a transaction with PrimEdge. The Board of Directors is currently engaged in dialogue and the exchange of information with this candidate. No additional information has been released at this time.

Brian Schuster, President and CEO of PrimEdge, stated, "Gulfstream has a long and excellent track record of finding and researching acquisition candidates for companies such as ourselves. The Board of Directors has decided that the time is right for us to seek acquisitions, provided that they have a tight strategic fit with our overall business and revenue growth strategy and remain in the entertainment services and consumer products categories. Such acquisitions will allow us to springboard our revenues exponentially, and accelerate our market penetration even further. Gulfstream has already exceeded our expectations by introducing us to the ideal candidate with whom we are already in discussions."

About PrimEdge, Inc.

PrimEdge, Inc. is a diversified holding company, owning and overseeing the operations of two majority owned subsidiaries, DigiKidz, Inc., a producer and distributor of family entertainment DVDs, and Orangebox Entertainment, Inc., a production and post production services provider to the entertainment industry. PrimEdge, Inc. seeks rapid growth through additional acquisitions and the sales and marketing by its subsidiaries of proprietary products.

Safe Harbor Statement

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Contact Information

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    PrimEdge, Inc.
    Press Relations
    (561) 447-7977