NEW YORK, Feb 24, 2011 (GlobeNewswire via COMTEX) -- AV1 Group, Inc. (Pink Sheets:AVOP) (www.av1group.com) announces today that after lengthy discussions with a local land owner of more than 400 acres in Mexico, Av1 Group’s management team is proud to announce that a letter of intent is in the process of being drafted up. If this deal goes through, a local wholly owned subsidiary of Av1 Group will enter into a direct partnership with a local developer to begin building homes on the site.

A member of Av1 Group’s board stated “This would be more of a long term project for us. Our goal would to be to develop this project in phases. Being that a significant portion of the site is already pre-approved for development this will allow us to step in at the right time and get things off the ground without waiting months for approvals and permits. We are pleased with management’s ability to find such opportunities in the region, as these are the types of deals we...