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Podium Venture Group Announced It Will Create a 100% Wholly Owned Real Estate Holding Subsidiary
ATLANTA-(Business Wire)-May 6, 2008 - Podium Venture Group, Inc. (Pink Sheets: PODM) announced today it will create a 100% wholly owned real estate subsidiary.
The new subsidiary will be 100% owned by Podium Venture Group and will be named Riviera Properties, Inc. The reason for the creation of this new subsidiary is to acquire real estate to promote the growth of the Company's other subsidiaries. Currently, the company does not own the tower sites which Coastal Broadband uses to provide its services to Southeastern Georgia. The proposed acquisition of these sites and other properties could save the Company in the tens of thousands of dollars per year while increasing Podium Venture Groups assets.
"With careful and thorough investigation of property Values and Location, we can turn said acquisitions into a viable revenue stream for quick returns on our investment or hold onto the properties for long term residual revenue. Real Estate purchased at the right time and with the right margins for ROI, can be the cornerstone for making Riviera Properties, Inc. the scale by which we gauge the future growth of Podium Venture Group, Inc."
About Podium Venture Group, Inc.
Podium Venture Group Inc. (http://www.podiumvg.com) is a diversified company with holdings in wireless broadband and disaster recovery. Coastal Broadband (http://www.coastalbb.com) is a subsidiary of Podium Venture Group and is a wireless broadband provider in Southern Georgia. Noh Limits Consulting (http://www.nohlimits.com) represents Podium Venture Groups holdings in the disaster recovery & business continuity markets.
This press release contains certain forward-looking statements. All forward-looking statements in this press release are based on information available to the company as of the date hereof, and the company undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.
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