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One World Ventures, Inc. Signs LOI to Acquire Controlling Interest of Inter Solar Tech Ltd.

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  Published in House and Home on Thursday, November 12th 2009 at 6:37 GMT by Market Wire
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LAS VEGAS, NV--(Marketwire - November 12, 2009) - One World Ventures, Inc. (PINKSHEETS: [ OWVI ]) is pleased to announce that One World Ventures Inc. has signed a letter of intent (the "LOI") to acquire a 60% controlling ownership stake in Inter Solar Tech Limited a private Hong Kong company ([ http://www.intersolartech.hk ]) for US$2,000,000. The assets include intellectual property, technical competence, sales and distribution of renewable power generation products for solar, wind, and hybrid energy projects for both residential and commercial purposes in Europe.

The LOI

The Transaction will be effective pursuant to a definitive purchase agreement between the two parties, which agreement will be executed at the earliest practicable date. In this transaction, the One World Ventures Inc. subsidiary Tutamen will contribute its solar related tangible and intangible assets to Inter Solar Tech Ltd. plus certain of its shares. To acquire 60% controlling interest in Inter Solar Tech Ltd. HK.

Inter Solar Tech will be independently managed with Amy Yao as its CEO. OWVI CEO Stephen Prior will be appointed to the board and management committee of Inter Solar Tech Ltd. This is a strategic acquisition combining the market knowledge and distribution of Tutamen to Mexico and South America with the core competencies of Inter Solar Tech in Europe. Inter Solar Tech provides a source of experienced technical and financial staff to effect transition of the operational and management changes and take advantage of the opportunities available to the business. The newly combined businesses project approximately USD$4,000,000 of revenue in 2010 based on recent concentrated sales. The combined businesses will affect synergies and critical mass allowing it to compete even more strongly in this growth industry.

"This is an exciting development as One World Ventures adds management and technical competence and will generate income and cash flow from this investment in an already established operating company," said Stephen Prior, CEO of One World Ventures, Inc.

About One World Ventures, Inc.

One World Ventures, Inc. is a holding company with management resourced in Asia and the United States that invests in technologies, communities and systems that facilitate trade, finance, communication and travel across international boundaries, cultures and languages.

About Inter Solar Tech Ltd.

Inter Solar Tech, Ltd. founded in 2004 engages in the sale and distribution of renewable power generation products for solar, wind, and hybrid energy projects for both residential and commercial purposes. Inter Solar Tech, Ltd. currently sells its products to a network of distributors and resellers in the Peoples Republic of China and the European Union.

Safe Harbor Statement:

Any statements contained herein related to future events are forward-looking statements and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on forward-looking statements. One World Ventures, Inc. undertakes no obligation to update any such statements to reflect actual events.