SOURCE: Skreem Entertainment Corporation

April 23, 2008 12:43 ET

Skreem Entertainment Acquires Diversified Global Holdings; International Conglomerate Sales Exceed $41 Million

ORLANDO, FL--(Marketwire - April 23, 2008) - Skreem Entertainment Corporation (OTCBB: SKNT) announced today that it had acquired Diversified Global Holdings Inc. Diversified Global Holdings is an international conglomerate with a dynamic portfolio of numerous subsidiaries within 8 independent divisions that capitalize on the ever-expanding worldwide demand for progress, resources and business efficiency, energy, services and products. Upon completion of all terms of the deal, the international manufacturing and construction divisions consisting of nine subsidiaries as well as the companies under LOI to be purchased will exceed $41 million, with over $7 million net income and $7.7 in total assets.

The Company has offices in Moscow, Kazan and Omsk in Russia; Lohne, Bruchmühlen, Frankfurt in Germany and a U.S. office in Orlando, Fl. In Russia the Company has two electronic components manufacturers and a construction company in the Krasnodar region of southern Russia, building commercial, institutional, educational and residential projects. In Germany the Company owns commercial design and installation companies, and in Florida the Company has acquired design, flooring and construction companies targeting foreign investors.

The Company will immediately apply for a name and symbol change to reflect the new company status. A three-language web site linking all divisions of the Company is in development. The Company will focus on growth through acquisition to increase shareholder value. For more information contact Charles Camorata at (407) 207-0400.

"Safe Harbor'' Statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward-looking statements (within the meaning of Section 27a of the Securities Act of 1933 and Section 21e of the Securities Exchange Act of 1934) regarding us and our business, financial condition, results of operations and prospects. Forward-looking statements in this report reflect the good faith judgment of our management and the statements are based on facts and factors as we currently know them. Forward-looking statements are subject to risks and uncertainties and actual results and outcomes may differ materially from the results and outcomes discussed in the forward-looking statements. Readers are urged not to place undue reliance on these forward-looking statements which speak only as of the date of this press release. We undertake no obligation to revise or update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of the press release. Political and operational risks in the countries in which SKNT may operate and governmental regulation and judicial outcomes, and other risks detailed from time to time in SKNT's filings with the Securities and Exchange Commission, Copies of each filing may be obtained from SKNT or the S.E.C. or its web site at http://www.sec.gov.

Contact Information

  • For more information, contact:
    Charles Camorata
    (407) 207-0400