Treasure Explorations Inc. enters into joint venture agreement and effects name change to VerifySmart Corp.
02 April 2009 - 8:56AM
PR Newswire (US)
MANILA, Philippines, April 1 /PRNewswire-FirstCall/ -- VerifySmart
Corp. (VSMR: OTCBB), (formerly, Treasure Explorations Inc.):
Announces the company has entered into a Joint Venture Agreement
with Verified Transactions Corp. effective March 26, 2009. As part
of this transaction the company's former name, "Treasure
Explorations Inc." has been changed to "VerifySmart Corp." The name
change became effective with the Over-the-Counter Bulletin Board at
the opening for trading on March 24, 2009 under the new stock
symbol VSMR. The ownership and respective revenue interests and
contributions of the parties under this Joint Venture shall be
shared as per the Form 8-K filed with the Securities and Exchange
Commission (the "SEC"). The document will be available through the
SEC's EDGAR website on Thursday, March 26, 2009. VerifySmart Corp.
shall be the operator and/or manager of the JV Assets and the Joint
Venture. About VerifySmart Corp. VerifySmart Corp. is a fully
reporting issuer with the shares traded on the "OTCBB". The
company's mandate is to market, sell and manage fraud prevention
products and services as an exclusive licensee. An international
company, VerifySmart's patent-pending technology is garnering world
wide attention and rapidly gaining acceptance across a security
challenged industry. Forward Looking Statements This news release
contains "forward-looking statements", as that term is defined in
Section 27A of the United States Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934. Statements in this
current report which are not purely historical are forward-looking
statements and include any statements regarding beliefs, plans,
expectations or intentions regarding the future. Such
forward-looking statements include, among other things, the closing
of the joint venture agreement, the ability to contribute an
aggregate of $5,000,000 to the joint venture corporation, the
acquisition of Verified Capital Corp., or the receipt of any future
patents or the acceptance of the company's technology by the
security industry. Actual results could differ from those projected
in any forward-looking statements due to numerous factors. Such
factors include, among others, the inherent uncertainty of
financial estimates and projections, the competitive and regulatory
environment for start up software companies, stock market
conditions, unforeseen technical difficulties and our ongoing
ability to operate a business and obtain financing. These
forward-looking statements are made as of the date of this current
report, and we assume no obligation to update the forward-looking
statements, or to update the reasons why actual results could
differ from those projected in the forward-looking statements.
Although we believe that our beliefs, plans, expectations and
intentions contained in this current report are reasonable, there
can be no assurance that such beliefs, plans, expectations or
intentions will prove to be accurate. Investors should consult all
of the information set forth herein and should also refer to the
risk factors disclosure outlined in our annual report on Form 10-K
for the 2008 fiscal year, our quarterly reports on Form 10-Q and
our other periodic reports filed from time-to-time with the
Securities and Exchange Commission pursuant to the Securities
Exchange Act. DATASOURCE: VerifySmart Corp. CONTACT: Corporate
Headquarters, Fort Legend Towers, Suite 2002 - 3rd Avenue corner
31st Street, E-Square, Fort Bonifacio Global City, Taguig, Metro
Manila, Philippines; Investor Relations: Danny Gravelle, Goal
Capital LLC, (949) 481-5396; Questions or Feedback, ,
http://www.verifysmart.com/
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