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EXHIBIT
99.1
WES
Consulting, Inc. Completes Acquisition of Web Merchants Inc.
Acquisition
Expands The Reach and Expertise of Both Firms
ATLANTA, GA. January 28, 2011 — WES Consulting,
Inc. (OTCQB:WSCU) the owner of Liberator.com and the Liberator brand, a leading
provider of sexual health and wellness products, today announced the completion
of its acquisition of Web Merchants, Inc. the owner of the popular
EdenFantasys.com website. WES Consulting, Inc. acquired 100% of Web Merchants,
Inc. stock in exchange for 28.4 million shares of Wes Consulting common stock
and a cash payment of $100,000. Web Merchants, Inc. had net revenues
of $7.6 million in 2009 and net revenues of $6.2 million for the nine
months ended September 30, 2010.
The
acquisition will create a social network of communities focusing on sexual
health and wellness. The combined company will bring together the unique
capabilities of both operations in order to better serve both consumer and
wholesale customers in a variety of adult and mainstream channels. As part of
the acquisition, Web Merchants, Inc. will relocate their New Jersey facility to
the 140,000 square foot WES Consulting, Inc. headquarters and fulfillment center
in Atlanta, GA. Full integration of the companies is expected to be completed by
April of 2011.
“With
this acquisition, our company will advance its consumer e-commerce capabilities
to better serve our customers’ growing demand for sexual wellbeing products,”
said Louis Friedman, president and CEO of WES Consulting, Inc. “By combining the
marketing experience of WES Consulting, Inc. with the retail web expertise of
Web Merchants, Inc., we are uniquely positioned to serve both e-commerce
customers, as well as, wholesale customers large and small by utilizing our
network of suppliers and vendors.” Going forward, WES Consulting, Inc. will
continue to drive both the Liberator and EdenFantasys brands through continued
advertising, sales and marketing initiatives.
“The
completion of this acquisition signals the beginning of a new, more powerful and
dynamic company,” said Fred Petrenko, President and CEO of Web Merchants, Inc.
“The industry is changing rapidly and the excitement and rejuvenation is being
felt not only within our new company, but among our customers and business
partners. With the combined resources of WES Consulting, Inc. and Web Merchants,
Inc., we are creating a strong team of knowledgeable and passionate employees
that will be dedicated to delivering pioneering products and interactive
experiences that will continue to capitalize on the sexual wellness
category.”
About
WES Consulting, Inc.
WES
Consulting, Inc. is a U.S. based company with fiscal 2010 sales of US$11 million
to customers around the world. With approximately 130 associates in
manufacturing, sales, design, marketing and customer service, we are a
recognized leader in many of the industries we serve. More information on WES
Consulting, Inc. can be found at www.Liberator.com
About
Web Merchants, Inc.
Web
Merchants, Inc is a New Jersey based company that owns and operates an online
adult community and e-commerce website under the EdenFantasys.com brand. The
Company’s marketing strategies have created a unique opportunity for consumers
and adult product manufacturers to communicate through the site thus positioning
the Company at the crossroads of the emerging sexual health and wellness market.
More information on Web Merchants, Inc. can be found at www.EdenFantasys.com
Safe Harbor
Statement
In
addition to historical information, this press release may contain
forward-looking statements that reflect our current expectations and projections
about future results, performance, prospects and opportunities. These
forward-looking statements are based on information currently available to us
and are subject to a number of risks, uncertainties and other factors that may
cause actual results, performance, prospects or opportunities to be materially
different from those expressed in, or implied by, such forward looking
statements. You should not place undue reliance on any forward-looking
statements. Except as required by federal securities law, we assume no
obligation to update publicly or to revise these forward-looking statements for
any reason, or to update the reasons actual results could differ materially from
those anticipated in these forward-looking statements, even if new information
becomes available, new events occur or circumstances change in the
future.
Ronald
Scott
Chief
Financial Officer
Ron.Scott@Liberator.com
770-246-6426