NEW YORK, NY - October 24, 2013 - Worldwide Internet, Inc. (OTC Pink: WNTR) announced today that it will be acquiring an interest in Pamlico Energy Park from Ludvik Holdings, Inc.
The Pamlico Energy Park is based in Camden County, North Carolina. It is developing up to Five MegaWatt (5MW) of Solar Power. The $10 million project will be 30% financed by Federal Government Credits, 35% financed by North Carolina State Credits and the balance from a twenty five year power purchase agreement from an A rated energy company.
The project is to be managed by one of the largest providers of energy solutions in the United States. They will provide the turn-key engineering, procurement and construction services for the project. The project will provide a significant asset and cash flow for shareholders for the next twenty five years commencing in 2014.
Frank Kristan, President of Worldwide Internet, Inc. stated that:
"This acquisition will provide assets and cash flow for shareholder distributions. We continue to make progress on the transition to a diversified holding company. This continues on the path of our overall strategy to increase shareholder value and provide for distributions to shareholders."
Worldwide Internet, Inc. is currently trading on the OTC Markets (www.otcmarkets.com) under the trading symbol WNTR.
About Worldwide Internet, Inc.
Worldwide Internet, Inc. (OTC Pink: WNTR) (www.worldwideinternetinc.com) is in the business of developing technology for internet datacenter services and emergency notifications to the public. The company is focused on making investments to diversify its business operations and holdings.
This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties. Actual results may differ materially from those expressed or implied in the forward-looking statements as a result of a number of factors, including those described from time to time in filings with the OTC Markets and. undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.
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SOURCE: Worldwide Internet, Inc.