FORT LAUDERDALE, Fla., June 7 /PRNewswire-FirstCall/ -- James Vernon President of EXA, Inc. (Pink Sheets: EXAI) announced today that the company has signed a non-exclusive Master Sales Agreement under Blue Seas Sales and Marketing, a wholly owned subsidiary of the company, to market and sell vacation ownership units under the trade name CruiseShip'Shares. The ship, Pacific Aurora carrying a Canadian Flag is scheduled to begin sailing in the Vancouver, British Columbia area within the next few months. The ship's initial winter itinerary will offer a Sea-to-Ski program featuring Whistler Mountain, the site of the 2010 Winter Olympics.
Mr. Vernon said, "This is a smaller ship providing for an intimate yacht- like cruising experience. The initial proposed itinerary, in the inland waterways of British Columbia, offers some of the finest skiing, scuba diving, golf, hiking and fishing and much more." Vernon further added, "The developer plans to provide a more port oriented schedule sailing many of the inland waterways with frequent stops at unusual ports of call. To the best of our knowledge this is a unique vacation ownership opportunity and will be among the first for a commercial style cruise ship."
With an eye towards the 2010 Winter Olympics first purchasers will have the opportunity to secure occupancy rights during this major international event. Whistler Mountain, the main site during this Olympiad will be the focal point for many of the ship's activities during its inaugural sailings giving vacation ownership purchasers a chance to visit the area and ski at this world renowned resort while taking part in the cruise experience.
Vacation ownership unit sales are expected to start in mid July but the actual commencement of sales will be determined by the filing and approval of an offering plan under Florida's Timeshare Act now being prepared for submission by the developer. Initial sales efforts will focus on the vacation ownership market in the State of Florida, which oddly enough is home to many of the largest ski clubs in the U.S.
With the company being located in South Florida Mr. Vernon anticipates that EXA, Inc. and its subsidiaries will add much to the corporate landscape in the area with the creation of numerous job opportunities for local residents. "We are looking forward to keeping most of the administrative and sales and marketing functions in South Florida," added Mr. Vernon. "Typically many of these functions are sent offshore but our goal as good corporate citizens and long time residents of Florida, is to keep as many jobs as possible within the State."
Statements about the Company's future expectations, including future revenues and earnings, and all other statements in this press release other than historical facts are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange of 1934, and as that term is defined in the Private Litigation Reform Act of 1995. Such forward-looking statements involve risks and uncertainties and are subject to change at any time, and the Company's actual results could differ materially from expected results. The Company undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances.
