2012-12-10 22:59:18 -
SAGINAW, MI -- (Marketwire) -- 12/10/12 -- HPIL Holding (the "Company" or "HPIL") (OTCQB: HPIL) is pleased to announce that its wholly owned subsidiary HPIL Art&Culture Inc., on December 4, 2012, entered into a Cooperation Agreement (the "Agreement") with Social Art World Ltd., a private company focused on investing in the art sector. The parties will work cooperatively to develop and expand projects between the parties beginning on December 4, 2012. The term of the Agreement is two years unless terminated earlier by either party.
Louis Bertoli, President & C.E.O. of HPIL Holding, said, "We look forward to working with Social Art World Ltd. through HPIL Holding's wholly owned subsidiary HPIL Art&Culture Inc. The business of art & culture is one of our main interests and we see significant cooperation ahead between Social Art World Ltd. and HPIL Art&Culture Inc."
Mr. Mauro Falaschi, President of the Social Art World Ltd., said, "We are pleased with our agreement with HPIL Art&Culture Inc. and anticipate significant developments in 2013."
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (The "Act"). In particular, when used in the preceding discussion, the words "pleased," "plan," "confident that," "believe," "expect," or "intend to," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Such risks and uncertainties include, but are not limited to, market conditions, general acceptance of the Company's products and technologies, competitive factors, the ability to successfully complete additional financings and other risks described in the Company's SEC reports and filings.
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