ONTC .0004 News/Bottom Play: Onteco Corporation, ONTC, Closes Acquisition of Cyber Centers Worldwide Corporation

MIAMI, Nov. 8, 2012 /PRNewswire via COMTEX/ -- Onteco Corporation (OTC.QB: "ONTC"), (the "Company", or "Onteco"), announced today that it had closed its acquisition via a share exchange agreement with Cyber Centers Worldwide Corporation, a privately-held Florida corporation, ("CCW").

Under the terms of the agreement Onteco acquired all of the issued and outstanding capital stock of CCW, in exchange for a number of shares of preferred and common stock of Onteco. CCW is in the business of interactive social gaming on the Internet.

"This acquisition is but the first example of our plan to expand and diversify our 'portfolio of companies' in order to add shareholder value," said Dror Svorai, CEO of Onteco. He added, "We believe that Cyber Centers Worldwide has the capability to rapidly grow our revenue in a fresh and innovative way while building excitement in the new social media marketplace."