PILGRIM VENTURE IN MERGER AGREEMENT <Pilgrim Venture Corp> said it signed a letter of intent to merge with <Marketing Technologies Group Inc>, Rockville Center, N.Y. Under terms of the agreement, Pilgrim, a publicly held corporation, said it will issue two mln shares of authorized but unissued restricted common stock to Marketing Technologies shareholders. The company said it expects to complete the merger by June 17. Marketing Technologies is developing a computer-based advertising system geared toward large advertisers, the company said.