SOURCE: Virtual Media Holdings Inc.

June 12, 2008 12:00 ET

Virtual Media Holdings to Acquire Biomass Secure Power Inc.

VANCOUVER, BC--(Marketwire - June 12, 2008) - Virtual Media Holdings Inc. (PINKSHEETS: VMHIF) -- Suavek Kownacki, President, is pleased to announce that an agreement to acquire all of the shares of Biomass Secure Power Inc. has been reached. The closing will take effect after the company's fiscal year end of June 30, 2008.

The company will change it name to Biomass Secure Power Inc. to better reflect the new direction being taken. Plans are well underway to build and operate a 10 megawatt power plant under BC Hydro's Standing Offer Program.

This press release contains forward-looking statements involving risks and uncertainties including statements regarding the Company's future performance. Such statements are based on management's current expectations and are subject to certain factors, risks and uncertainties that may cause actual results, events and performance to differ materially from those referred to or implied by such statements. In addition, actual future results may differ materially from those anticipated, depending on a variety of factors which include, but are not limited to, our ability to leverage our technology, manage our growth, protect our intellectual property rights, attract new customers and general economic conditions affecting consumer spending. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company does not intend to update any of the forward-looking statements after the date of this release to conform these statements to actual results or to changes in its expectations, except as may be required by law.

Contact Information