IPORUSSIA, INC. Announces Agreements With a Group of Four Russian Timber-Processing Companies Wednesday September 14, 6:00 am ET
JERICHO, NY--(MARKET WIRE)--Sep 14, 2005 -- IPORUSSIA, INC. (OTC BB:IPOR.OB - News), a provider of business advisory services to private companies located in the Russian Federation, announced today it has been retained by a group of four Russian companies involved in timber processing and construction. ADVERTISEMENT
CRONA, LLC is involved in timber logging, processing and exporting of lumber (predominantly Siberian larch and pine) in the Lake Baikal Far Eastern area of Russia. EKS-STROI, LLC logs and processes lumber in the Vologda area of North-western Russia, as well as exporting lumber to 7 countries. EUROCARBON Trading House, LLC performs full utilization of logging waste, produces activated charcoal and sells its products in Russia. STROICOM JSC is a construction company that serves clients in the central part of Russia.
Under the terms of the agreements, IPORUSSIA will receive a 5 percent fee on financing received for which IPORUSSIA provides advice.
Mr. Sergey V. Martynjuk, President of EKS-STROI, LLC, stated, "The lumber industry is rapidly expanding and requires significant investments." Mr. Martynjuk further stated, "We are excited about our business opportunities for our shareholders and our employees, and we are delighted to work with IPORUSSIA, INC."
Mr. Vladimir F. Kuznetsov, President and CEO of IPORUSSIA, INC., stated, "The Russian timber-processing and construction industries bring new capital investment opportunities to the global markets. We welcome our newest clients and we're looking forward to helping them realize their current business expansion plans."
About IPORUSSIA, INC.
IPORUSSIA, INC. offers business advisory services to private companies located in the Russian Federation that are interested in raising capital, usually by taking their companies public in the United States, as a means of obtaining capital for their companies and liquidity for their principals and other stockholders. IPORUSSIA's wholly owned subsidiary, IPOR Capital, LLC, is admitted as a member of the NASD and may, as a finder and/or consultant, solicit other broker dealers to manage or co-manage IPOs for Russian and other foreign companies. In addition, IPOR Capital may participate in private placements of securities to institutional and accredited investors.
This press release contains certain information that is subject to a number of known and unknown risks and uncertainties that may cause actual results and trends to differ materially from those expressed or implied by the forward-looking statements. These factors include, among other things, United States and global economic conditions, the acceptance in foreign markets of securities of companies primarily based in Russia, the Company's ability to attract clients who complete transactions, potential competition from investment banking firms, the Company's ability to attract, compensate and retain personnel with investment banking experience, the effects of compliance with governmental and NASD rules, the effects of the Sarbanes-Oxley Act of 2002 on the Company and prospective clients, the Company's ability to generate additional financing that may be required, the Company's dependence on its chief executive officer and the Company's limited operating history.
Contact: CONTACT Leonard W. Suroff Executive Vice President IPORUSSIA, INC. 516-937-6600
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