TIBURON, CA, United States, via eTeligis Inc., 06/16/2014 - - The Board ofDirectors and management of Privileged World Travel Club, Inc. (OTCBB: PVCL) (OTC Pink: PVCL) (PINKSHEETS: PVCL) announced today that they started negotiations for acquisitions of 2 companies in the United States and 3 companies in China that will complement the requirement needed to start receiving tourists from China in the next 3 months.
The Company management wishes to inform the shareholders that the US acquisitions include a travel company in Houston, Texas that generates $7 Million in annual revenue and will sell 100% of its operation for $220,000.00.Also another travel company in Seattle, Washington that generates $5 Million in annual revenue and will sell 100% of its operation for $150,000.00.Both companies will provide facilities for travel arrangements, customer support, meet and greet tourists arriving in the United States, as well as technology that can complement Privilege's own technology.
In China the company management started negotiations with a travel company in Beijing that generates $8 Million in annual revenue and will sell 100% of its operation for $250,000.00.Another company in Shanghai that generates $4 Million in annual revenue and will sell 100% of its operation for $120,000.00.Additionally the company will acquire a company in Guangzhou that generates $6 Million annual revenue and will sell 100% of its operation for $200,000.00.
All acquisitions are based on partial cash and partial company restricted common stock. Management wishes to inform shareholders that after the completion of all the acquisitions the total estimated annual revenue that will be generated from all the companies acquired will be approximately $30Million,and it will cost Privileged approximately a total of $940,000.00 in cash and company restricted common stock.
The Company also is announcing that it is in the process of employing one corporate manager to oversee the operations in the United States and one corporate manager to oversee the operations in China.
Management wishes to additionally inform shareholders that whenever one of these acquisitions is concluded the Company will release additional information concerning the details of the acquisition.
The business of Privileged is to provide exclusive travel services to persons ("Members") who elect to join the prestigious Privileged World Travel Club (the "Privileged Travel Club") and international travelers bound for the United States.Immediately after joining, Members of the Privileged Travel Club can begin enjoying the services their membership offers. The Company provides luxury services with a high standard of value. Company management feels that the prices offered by the club are reasonable and very attainable by all Members to travel any time they wish. The Company is specially focused to offer its Members luxury membership travel products and services at specially discounted prices. The Company's concept is to offer services to a larger audience and thereby increase the reach to more markets.
This news release includes forward-looking statements.While these statements are made to convey to the public the company's progress,businessopportunitiesandgrowthprospects,readersarecautionedthatsuchforward-lookingstatementsrepresent management'sopinion.Thecompany's operationsandbusinessprospectsarealwayssubjecttoriskanduncertainties.Triton disclaims any obligation or intention to update any forward-looking statement.
Privileged World Travel Club, Inc.
SOURCE: Privileged World Travel Club, Inc.