SOURCE: Techlabs, Inc

March 18, 2008 10:48 ET

Techlabs, Inc. Acquires Stake in the, Inc. and Updates Shareholders on Sirenas Resorts

JENSEN BEACH, FL--(Marketwire - March 18, 2008) - Techlabs, Inc. (PINKSHEETS: TCHL) reported that following its due diligence trip last month, Sirenas Resorts subsidiary is in negotiation with two properties in the Dominican Republic near Puerto Plata for its first resort operation on the island. The Company plans to finalize the negotiations within 30 days.

Further, the Company announced that it will acquire a direct 7 (seven) percent interest in the in return for restricted common stock not available for sale for two years, and assistance with legal, accounting, and administrative matters. These matters are directly related to the relisting of the Company on the Pinksheets and with due diligence relating to potential acquisition candidates. The formerly traded under the symbol (PINKSHEETS: BHUB) on the OTC Pinksheets.

About Techlabs, Inc.

Techlabs is primarily engaged in the travel, leisure and entertainment industries, with a particular focus on emerging opportunities in the Spanish-speaking markets, including the Caribbean basin and South America. The Company seeks to acquire undervalued unique properties and assets utilizing them to their highest and best use via innovative concepts such as its specialty micro resort approach catering to various themes from total relaxation, to sports such as wind surfing and kiting.

This news release contains "forward-looking statements" that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events or results to differ materially from those projected in the forward-looking statements as a result of various factors, including those set forth in Techlabs, Inc.'s filings with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein and not place undue reliance on such statements. The forward-looking statements are made as of the date hereof and Techlabs, Inc. undertakes no obligation to update such statements.

Contact Information

  • For further information regarding the company, contact:
    Techlabs, Inc.
    (267) 350-9210