QualityStocks.net News – Novori, Inc. (NOVO.OB) Announces Intent to Merge With Zalemark, Inc.

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We would like to highlight Novori, Inc. (OTCBB: NOVO). The company is a leading online interactive retailer of diamond engagement rings and fine jewelry. Launched in 2005, the www.novori.com well respected brand provides consumers with superior customer service and a better way to buy diamond jewelry. Novori prides itself on the highest quality standards in the industry and offers consumers unique online tools that allow them to explore, build and purchase their own custom made diamond rings in a way not previously offered by traditional retailers.

In the Company’s recent news,

Novori Inc., a leading online jewelry retailer of fine diamond engagement rings, and Zalemark Inc., a manufacturer of fine jewelry, have entered into a merger intent agreement. Both companies are anticipating closing the agreement sometime close to June 21, 2008. Until then, the merger will be subjected to negotiation and execution of binding definitive documents, satisfaction of certain conditions precedent, approval by Novori shareholders and other ordinary and customary closing conditions for a transaction of this type.

Zalemark was created by Steven Zale, an award winning jewelry designer and Chairman in 2002 with the initial launch of the Demeter® line endorsed by supermodel Rachel Hunter. Since then Zalemark has continued to develop its labels to include a diverse and impressive portfolio of premium branded jewelry collections while sticking to the ideals of free-trade, the use of conflict-free stones, and the quality of fine craftsmanship. Their current collection includes the successful Seventeen Jewelry Collection®, and in the future they also plan on launching a Bridal line and Couture line under the prestigious Badgley Mischka label and a fine fashion jewelry collection under the Hearst licensed ESQ brand.

In response to the merger announcement, Steven Zale, Zalemark Design Director, stated, “This agreement with Novori is a significant, exciting milestone in broadening our brand strategy and expanding our distribution through an exclusive direct marketing channel for our jewelry. While the brick & motor retail channel will remain a primary focus, we believe the internet will create new global opportunities to expand our consumer product selection and drive traffic to the independent retail stores as well as Novori’s website. We expect this new marketing initiative will allow us to generate new revenue streams. Together, we are committed to setting very aggressive financial targets because of the consumer metrics that exist in the companies. We believe the synergies combined by both companies will become a significant driver of our revenue growth, while enhancing shareholder value.”

Also commenting on the merger was Mark Neild, Novori CFO who said, “We view this merger not only as an exciting next step for Novori, but as a revolutionary step that dramatically amplifies the paramount character of Novori. While Novori will actively continue as a leading online retailer of high quality diamonds and fine jewelry, we will now also become a leader in the brand jewelry industry with licensing for established brand names such as Badgley Mischka®, ESQ®, Demeter® and Seventeen®. We will develop and manage the official jewelry websites for these major brands utilizing our existing online strengths and technologies to drive online sales for those brands. Simultaneously, we will be distributing these brand products through over a thousand brick and mortar retail locations throughout the country giving us a major revenue stream.”

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