BEIJING, July 7 /Xinhua-PRNewswire-FirstCall/ -- Asia Premium Television
Group, Inc. (OTC Bulletin Board: ATVG), a China-based payment community and
marketing company, announced today that it has entered into a strategic
financing arrangement with Her Village, Limited (''Her Village''). Her Village
is a multimedia women's community in China with over 40 million e-magazine
downloads and web visits, and has 10 million unique visitors per month. Her
Village is also one of Asia Premium's largest shareholders.
The financing provides ATVG with up to US$2 million in cash financing and
significant marketing assets for the development of its own urban female
consumer community in Mainland China.
Strategic Financing Agreement Terms
According to the terms of agreement, Her Village will pay $1,000,000 to
ATVG in exchange for 1 million shares of ATVG common stock valued at US$1 per
share. In addition, Her Village will be granted warrants to purchase an
additional 1 million shares of ATVG common stock with an exercise price of
US$1, exercisable within 18 months of the warrant issuance date.
As part of the agreement, Her Village will grant to ATVG several marketing
rights and assets free of charge, including:
-- Non-exclusive usage rights to the Her Village women database
(exclusive right for mobile payment communities).
-- Non-exclusive, perpetual marketing rights in all Her Village Media
(exclusive for mobile payment communities).
-- Non-exclusive right to launch a http://www.HVMobi.com marketing
insert in Her Village publications (exclusive for mobile payment
communities).
-- Non-exclusive right to host the http://www.HVMobi.com website at Her
Village's website.
ATVG plans to use the investment proceeds to finance the expansion of its
mobile top-up operations in Jiangxi Province and for other working capital
purposes.
Plans for a Joint Venture with Her Village
ATVG and Her Village have further agreed to establish a joint venture to
develop targeted shopping products-tentatively branded as "HV Mobi PINK"
products -- for urban female consumers in China. It is expected that the
products will include stick-on labels and prepay debit cards that offer female
consumers shopping discounts and rewards at select merchants. The joint
venture is expected to be 60% owned by Her Village and 40% owned by ATVG, with
Her Village contributing all marketing and data support and ATVG contributing
all necessary technology. ATVG has not entered into any similar agreements but
plans to enter similar agreements with other parties in the future, in order
to develop consumer communities for other key demographics such as
businessmen,
youth and senior citizens.
''Mr. Xing Jing, Chairman and CEO of Asia Premium Television Group, Inc.
commented, "This agreement represents a step in the development of our
consumer communities business. Through the agreement, we will obtain US$1
million in cash financing and up to another US$1 million in cash financing
over the next 18 months. At the same time, we have secured marketing assets
and support necessary to launch Mobi shopping products for the urban female
demographic. We are now focused on completing the roll out of our mobile top-
up operations in Jiangxi Province by the end of fiscal 2008 and developing our
HV Mobi PINK products with Her Village and other partners.''
Investors are cautioned that certain statements contained in this press
release are "Forward-Looking Statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. Forward-looking statements include
statements which are predictive in nature, which depend upon or refer to
future events or conditions, which include words such as "believes,"
"anticipates," "intends," "plans," "expects," and similar expressions. In
addition, any statement concerning future financial performance (including
future revenues, earnings or growth rates), ongoing business strategies or
prospects, and possible future VitalTrust actions, which may be provided by
management, are also forward-looking statements as defined by the act. These
statements are not guarantees of future performance.
SOURCE Asia Premium Television Group, Inc.
Yang Fen of Asia Premium Television Group, Inc., +86-10- 87762828 x8013, or
yangfen1@gmail.com
