Finance Articles

SonicMountain Joins The Amergence Group; Company Takes Strategic Investment to Quickly Enhance and Grow Odeo

New York, NY/San Francisco, CA (PRWEB) June 13, 2007 -- SonicMountain, Inc. announced today that it has signed a binding Engagement Agreement with Phoenix-based Amergence Group (OTC: AMGG). Under the terms of the agreement, SonicMountain, home of Odeo.com, one of the most popular podcast environments on the Internet today, will become a wholly owned subsidiary of The Amergence Group Inc.

SonicMountain's President, Rick Arturo, is enthusiastic about the alliance. "Our partnership with the Amergence Group is a very important step in the evolution of Odeo. The capital and expertise provided by Amergence will allow us to accelerate the plans we have for the site. Odeo has a very loyal and vocal user community. We have been listening to their requests and plan to make improvements such as refreshing the user interface, adding advanced search engine technology plus many other innovative features."

Odeo -- the winner of the 2007 Web 2.0 Award for Best Podcasting Site (www.prweb.com/printer.php?prid=526129) -- is one of the world's largest podcasting websites. Odeo (www.odeo.com) has a far-reaching, dedicated audience and offers creative ways to listen to and share more than 3.3 million MP3s and podcast audio files. Users can search for music, news and specialty podcasts and add them to custom playlists, which can then be shared with friends. In addition, users can automatically sync their playlist to their local iTunes folder.

By joining The Amergence Group (www.amergencegroup.com), SonicMountain (www.sonicmountain.com) will have access to cash and other resources to quickly improve Odeo's infrastructure. SonicMountain plans to add exciting new features such as patent pending search and video to the platform. SonicMountain is on its way to becoming the first social networking podcast site offering a powerful suite of tools for a comprehensive online, desktop and mobile media experience.

The Amergence Group provides bold new options for breakthrough business, such as SonicMountain, by attracting the resources to fuel their growth and success. Managing director of The Amergence Group, Peter Jacobs, points out, "This flagship project fulfills the promise of our new business model and lays the foundation for the Company's future. SonicMountain's management injects extraordinary vision and operating expertise into what we believe is an exploding marketplace."

Analysts predict a booming industry and exponential growth in podcasting and online social networking over the next 24 months. eMarketer projects ad spending on podcasts will reach $300 million (www.emarketer.com/Article.aspx?id=1003936), while social network ad spending is expected to rise to $2.5 billion worldwide by 2010, from $350 million in 2006 (www.emarketer.com/Article.aspx?id=1004106).

ABOUT THE AMERGENCE GROUP INC.
The Amergence Group (AMGG.PK) (www.amergencegroup.com) identifies, nurtures, and expands selected emerging companies across a wide range of industries and disciplines. The primary goal of the new business development enterprise (BDE) is to coordinate services and activities that foster and promote a business environment capable of accelerating the growth of innovative companies. The Company attracts new and early growth businesses that wish to take advantage of resources not generally available to them, such as mission-critical capital, in addition to legal, accounting, and public relations resources. In exchange, the Company retains a small minority ownership position in the promising new businesses. The Company is currently reviewing comprehensive due diligence packages from a number of potential target companies, ranging from the medical, legal, and entertainment industries.

Company contact:                Investor contact:
Peter H. Jacobs                Investor Relations
480-443-1600                    480-443-1600
peter @ amergencegroup.com        4press @ amergencegroup.com

ABOUT SONICMOUNTAIN, INC.
SonicMountain is a leader in digital media search and delivery. It was founded in November, 2006 with the notion that podcasting will ultimately become the main method of delivery for all portable media. With a team of thought leaders assembled from industry segments such as media, entertainment, technology, education, and politics, SonicMountain will deliver relevant and timely content through the most convenient and easy to use platform. SonicMountain believes in the proven strategy of innovation combined with acquisition of advanced technologies to create the best possible tools for podcasting.

SonicMountain is a privately held company based in New York.

Company contact:

Rick Arturo
609-410-1263
500 5th Ave.
Suite 1650
New York, NY 10110
rick @ sonicmountain.com

This news release contains predictions, projections, and other statements about the future that may or may not be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of l995 (collectively, "forward-looking statements"). Forward-looking statements relate to various aspects of the Company's operations and strategies, including but not limited to the effects of having experienced significant losses in the past and the risk that the Company may incur losses in the future; the Company's limited liquidity and significant indebtedness; its sales forecasts for future periods not being; the Company's marketing, product development, acquisition investments, licensing and other strategies not being successful; possible future issuances of debt or equity securities; new business development and industry trends; the possible need to raise additional capital in order to meet the Company's obligations and most other statements that are not historical in nature. Important factors that could cause actual results to differ materially from those described in the forward-looking statements are described in cautionary statements included in this news release. In assessing forward-looking statements, readers are urged to consider carefully these cautionary statements. Forward-looking statements speak only as of the date of this news release, and the Company disclaims any obligations to update such statements.

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