HIRU-News IS out

[rob111]

HIRU Corporation (HIRU) Finalizes Italy Merger

Wednesday, January 07, 2009 16:01ET

SAN MARINO, Jan. 7 /PRNewswire-FirstCall/ - Hiru Corporation (HIRU) . Further to the company's various merger updates where amongst other things the company addressed several targeted merger candidates, the company today announced that it has finalized its bilateral negotiations with Nadia SRL an Italian small equipment manufacturer, and coffee roaster.

Mr. Massimiliano Marconi (Max) incoming CEO of HIRU said, "The management has elected to close this transaction in escrow, to accommodate Italian laws, and regulations. There is nothing stopping us and HIRU from continuing on with daily commerce. The actual and physical share exchange between Nadia SRL and HIRU will take place probably 30-45 days from now. The reason for this 30 day escrow closing is in Italy (unlike in USA where most of this can be accomplished in 1-2 days) all documents and contracts must be translated, notarized, and then presented to the Italian commerce department, which includes filings with different levels of government."

The company will do filings on Pink Sheets of this transaction and begin updating its new corporate web site shortly.

The company will provide further details as they become available.


Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: Certain information contained in this release contains forward-looking statements that involve risk and uncertainties, including but not limited to, those relating to development and expansion activities, domestic and global conditions, and market competition.

CONTACT:


SOURCE Hiru Corporation