March 18, 2008 10:48 ET
Techlabs, Inc. Acquires Stake in the BigHub.com, 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 http://BigHub.com 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 http://BigHub.com
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.