Apr 23, 2010 08:01 ET
BELLMAWR, NJ–(Marketwire – April 23, 2010) – Island Breeze International, ![\"592316_small-logo1\"](\"https://www.gloucestercitynews.net/.a/6a00d8341bf7d953ef01348014eb65970c-120wi\")
Inc. (OTCBB: IBII), an entertainment cruise development company, announced that it has entered into a joint venture and investment agreement with a private investment group.
Under the terms of the joint venture and investment agreement, Island Breeze International will form a new subsidiary for the purpose of acquiring an existing overnight cruise vessel to operate in East Asia. Further, the investor has committed to make a $600,000 equity investment in the Company and lend up to an additional $14,400,000 to a subsidiary which IBII will organize to facilitate the vessel acquisition and subsequent operations.
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