VentureNet.com, Inc.,(a Delaware Corporation), Wednesday announced that it has provided an additional $380,000 of working capital to Gramerica International.
Gramerica Food Company, Inc. is a Nevada corporation holding company established to acquire and consolidate its food company operations.
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From doughnuts, pies, cookies, cakes and bagels to products such as corn chips, tortilla chips, nuts and potato chips, the American snack food industry is a multi-billion dollar market in the United States alone. Gramerica’s goal is to capitalize on this ever-increasing market, providing for greater diversity in product manufacturing and food services, while implementing a management methodology that adds a notable hedge against inherent risks, greater profitability and corporate stability.
Gramerica’s major producers and/or distributors include Frito-Lay, Hostess, Dolly Madison, Sara Lee and J.J. Snacks and other nationally known labels that control the majority of the industry.
In May of 1999, Gramerica solidified a contract for food production for Wal-Mart. “The working capital was provided in part by VentureNet.com, Inc. and Billington Resources, LLC,” said Michael Brette, chairman and president of VentureNet.com, Inc.
VentureNet.com specializes in providing financing and management expertise to pre-public and public emerging growth companies, demonstrating a high-growth potential. The core of the company’s business is bringing together companies and value-seeking investors an opportunity for substantial returns, while helping the most promising companies realize their visions for the future.
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By GlobalDataVentureNet.com, Inc., is a venture capital firm that specializes in funding early stage and first round financing for consumer and technology-based companies. For further information, contact Tammy Billington in shareholder relations at 909/693-1644.
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The foregoing news release may include numerous forward-looking statements concerning the company’s business and future prospects and other similar statements that do not concern matters of historical fact. The Federal securities laws provide a limited “safe harbor” for certain forward-looking statements. Forward-looking statements in this news release relating to product development, business prospects and development of a commercial market for technological advances are based on the company’s current expectations. The company’s current expectations are subject to all of the uncertainties and risks customarily associated with new business ventures including, but not limited to, market conditions, successful product development and acceptance, competition and overall economic conditions, as well as the risk of adverse regulatory actions. The company’s actual results may differ materially from current expectations. Readers are cautioned not to put undue reliance on forward-looking statements. The company disclaims any intent or obligation to update publicly these forward-looking statements, whether as a result of new information, future events or for any other reason.
