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Sitoa Global Announces New Marketplace With BCLN Golf
(Marketwire Via Acquire Media NewsEdge) PALO ALTO, CA -- (MARKET WIRE) -- 02/13/12 --
Sitoa Global Inc. (OTCQB: STOA) (PINKSHEETS: STOA) (the "Company"), an e-commerce facilitator, today announced that it has entered into a partnership agreement with BCLN Golf, Ltd. www.bclngolf.com ("BCLN"). The Company will use its network and platform software technology to develop and host a marketplace for online sales of BCLN's golf apparel as well as other golf related products from US and European golf specialty companies. In exchange, the Company will receive monthly hosting fees and a revenue share under the agreement.
The partnership with BCLN represents the fourth marketplace that the Company will be directly hosting and managing. The marketplace is expected to launch in late April 2012.
BCLN is the 3rd largest golf apparel designer and retailer in Hong Kong and Mainland China and currently sells its products in pro shops only located in golf courses throughout both countries.
The golf industry in China is estimated to have generated revenues of over 3 billion yuan (US$500 million) in 2011 and is projected to grow at over 15% per year over the next five years.
About Sitoa Global, Inc.
Sitoa Global provides an easy-to-use and comprehensive platform, the "Focused Social Marketplace" that enables an online retailer to deploy a social marketplace e-commerce site. Sitoa's opportunity is to provide infrastructure that build marketplaces for online sellers with focused customer communities to expand their sales channels without the risks of focus dilution, and increased capital and operating costs. Sitoa shares in revenues generated by the site in addition to charging one-time integration and hosting fees. Additional information about Sitoa may be found on its website, http://www.sitoaglobal.com.
Safe Harbor Statement
This release contains certain "forward-looking statements" relating to the business of the Company and its subsidiary companies. All statements, other than statements of historical fact included herein are "forward-looking statements" including statements regarding: the continued growth of the e-commerce segment and the ability of the Company to continue its expansion into that segment; the ability of the Company to perform under the agreement with BCLN Golf Ltd.; the ability of the Company to successfully execute its business plan; the business strategy, plans, and objectives of the Company and its subsidiaries; and any other statements of non-historical information. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions and involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks, and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this news release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume any duty to update these forward-looking statements.
Contact:
Sitoa Global
Investor Relations
info@sitoaglobal.com
Source: Sitoa Global, Inc.
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