Seven Ventures, Inc. Subsidiary Chex Services Announces Financial Advisory Agreement with MBC Global.MINNEAPOLIS -- Seven Ventures, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : SVVI), announced today that its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , Chex Services, Inc., has signed a two-year exclusive financial advisory agreement with MBC (Multimedia Benchmark Committee) A graphics benchmark that provides MPEG-2 and other tests. See GPC. Global, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , an international merchant banking company located in Lake Forest, Illinois Lake Forest is a city in Lake County, Illinois, United States. The population was 20,059 at the 2000 census. The city is south of Waukegan, Illinois, on the shore of Lake Michigan, and is a part of the Chicago metropolitan area and the North Shore. . MBC will assist the Company in identifying, evaluating and developing potential mergers, acquisitions, strategic partnerships, reverse mergers or other similar transactions. In addition, MBC Global will also assist the Company in all of its financing efforts including debt and equity placements. "We are very excited to have MBC Global on board with us given their great expertise not only in raising capital and assisting us with our financial needs, but also with their significant contacts in the traditional, non-traditional and international gaming markets," stated Mr. Jim Welbourn, Seven Ventures' President. "We are confident MBC Global is the right fit for Chex Services and look forward to their assistance as we work to take this Company to the next level." "We are very pleased with this opportunity to assist Chex Services in developing their vision for the company's future and helping them with both their short-term and long-term objectives," commented Ric Landry, MBC Global's Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. . "We have been working to identify several opportunities for Chex Services' consideration and look forward to presenting them should there be an appropriate fit." Seven Ventures, Inc. is a holding company operating through its wholly owned subsidiary, Chex Services, Inc. of Minnetonka, Minnesota For other uses, see Minnetonka (disambiguation). Minnetonka is a suburban community located eight miles west of Minneapolis in Hennepin County. Its 2000 population of 51,480 makes it the fourteenth largest city in Minnesota. . Chex Services provides comprehensive cash access services to casinos and other gaming facilities under the trademarked name FastFunds. The Company specializes in, and is the industry leader for, full booth operations to Native American casinos and has developed a suite of cash access products for use in the traditional gaming and retail markets. Chex Services' website is located at www.fastfundsonline.com. The Company is majority owned by Equitex, Inc. (Nasdaq: EQTX), a holding company based in Englewood, Colorado Englewood is a city in Arapahoe County, Colorado, USA. As of 2005, the city is estimated to have a total population of 32,350.[5] It is part of the Denver-Aurora Metropolitan Area. . The statements included in this press release concerning predictions of economic performance and management's plans and objectives constitute forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. These statements involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors which could cause or contribute to such differences include, but are not limited to, factors detailed in the Securities and Exchange Commission filings of Seven Ventures, Inc. or its majority-owned parent company Equitex, Inc.; economic downturns affecting the operations of Seven Ventures its subsidiaries or companies proposed for merger or acquisition; the loss of contracts or failure to acquire new contracts; success of any legal actions; failure to successfully implement newly developed product lines including projected increases in revenues or earnings; the inability to initiate or complete any contemplated restructuring, offering, acquisition, disposition or other transaction; adverse financial performance by Seven Ventures or its subsidiaries; failure to obtain or maintain regulatory approval for products and services offered by Seven Ventures or its subsidiaries; adverse equity market conditions and declines in the value of Seven Ventures common stock; and the unavailability of financing to complete management's plans and objectives. The forward-looking statements contained in this press release speak only as of the date hereof and Seven Ventures disclaims any intent or obligation to update these forward-looking statements. |
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