UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC
FORM 6-K
REPORT OF FOREIGN ISSUER PURSUANT TO RULES 13a-16 AND 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
NEWS RELEASE - MARCH 7, 2000
WORLD VENTURES INC.
Commission File No. 000-18343
102 Piper Crescent
Nanaimo, British Columbia
Canada V9T 3G3
Tel: (250) 756-0291
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WORLD VENTURES INC.
102 Piper Crescent
Nanaimo BC V9T 3G3
Tel: (250) 756-0291 Fax: (250) 756-0298
NEWS RELEASE
March 7, 2000
Over the past six months, the directors of World Ventures Inc., have turned the
Company's focus from mining exploration to resort development projects. The
Company's name has been changed from Nu-Dawn Resources Inc., to World Ventures
Inc. The reverse stock split, one for five (1-5), which was approved at the last
annual general meeting of shareholders has now been completed, and a new trading
symbol, WVNTF, has been assigned by NASD for the Electronic Bulletin Board.
Montreal Trust continues as the share registry for the Company.
The directors of World Ventures Inc., are pleased to announce that the Company
has entered into an option agreement to purchase a one hundred and seventy acre
block of real estate located within and surrounded by the Prescott National
Forest in the State of Arizona. The property is located sixty-five road miles
from the city of Phoenix. Located in the high country where Ponderosa Pine and
Oak forests flourish, the property offers a contrast to the lower, hot, desert
country a few miles away.
The agreement provides World Ventures Inc., the option to purchase the block of
land for a 12 month period for four million shares of capital stock as full
payment. World Ventures Inc., has further agreed to pay maintenance costs and
property taxes for the option period.
World Ventures Inc., also owns outright 150 acres of land in the mountains of
Costa Rica, Central America. Over the next few months, management intends to
carry out feasibility studies on the resort business as it would apply to the
Arizona and Costa Rica projects.
Trendwest Resorts Inc. (NASDAQ: TWRI), Intrawest Corporation (NYSE:IDR), and
Bluegreen Corporation (NYSE:BXG) are some of the high profile public companies
developing high country resort projects in Arizona.
World Ventures Inc., has put into place director and employee incentive stock
options for a total of five hundred and fifty thousand shares at $0.25 (CAD) per
share, exercisable on equal annual installments over five years.
The Company has arranged a private placement for 600,000 units at $0.25 (CAD)
per unit. A unit consists of one share and a warrant to purchase one share,
exercisable at $0.25 in one year or exercisable at $0.40 in two years.
Progress reports will be issued as the projects advance.
ON BEHALF OF THE BOARD
/s/ Raynerd B. Carson
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President
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned, thereto duly authorized.
WORLD VENTURES INC.
By: /s/ Raynerd B. Carson
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Raynerd B. Carson
President
Date: March 7, 2000
