DGAP-News: GRIT International Inc.: GRIT INTERNATIONAL INC. - ANNOUNCES LETTER FROM CEO/PRESIDENT ON THE TEXAS PETROLEUM SPIN-OFF AND HIGHLIGHTS THE RECENT STOCK ACTIVITY
ID: 325594
Miscellaneous/Strategic Company Decision
GRIT International Inc.: GRIT INTERNATIONAL INC. - ANNOUNCES LETTER
FROM CEO/PRESIDENT ON THE TEXAS PETROLEUM SPIN-OFF AND HIGHLIGHTS THE
RECENT STOCK ACTIVITY
10.01.2011 / 12:36
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GRANDE PRAIRIE, AB - Monday - January 10th, 2011 - GRIT INTERNATIONAL
(3GR1:F) is pleased to announce President Lawrence Zeiben comments on the
past 2010, and offers insight to 2011.
'Firstly I would like to thank all the shareholders who participated in our
great opportunity of now being able to accumulate some initial shares in
GRIT International's first Subsidiary spin-off company Texas Petroleum. The
responses have been favourable, and we welcome the new shareholders to
Texas Petroleum. Please note that instructions will be offered mid-month,
so as to confirm participants and ensure transfer of the stock can be
fulfilled. Again I thank you for your support.
The past few months have been none other than hectic, corporate division
restructuring: GRIT-MINERALS, GRIT -PETROLEUM, GRIT-UTILITIES AND GRIT
DYNAMICS, and initial corporate re-branding, with the revamping of the
corporate website. Further on going developments are still being made to
the website at this time. Material for the German Equity Forum had been
prepared for the trip, where management had the opportunity to meet with
investors, shareholders, financial lenders and professionally recognized
accounting&legal firms had also made appointments. Pre-arranged meetings
were also established whereby management had been introduced to a number of
diverse opportunities that would be potential suitors for a number of the
GRIT divisions. I would like to personally thank the West African
ambassadors' and delegates who made the dedicated trip into Germany to meet
with management and myself; I am confident that we can pursue further
potential joint venture opportunities in the not so distance future. As
GRIT Management, we look forward to meeting (soon) and developing upon the
opportunities that we had discussed when we last met.
Due to managements stay in German, and the holiday season upon us,
management had decided to address the telephone conference calls to be
every two months verses every month. We will resume telephone conference
calls to start January 14th, 2011; the official date and time will be
posted this week.
Further administrative duties required immediate attention, so as to ensure
the movement of GRIT's Subsidiary Spin-Off Texas Petroleum, and the Entry
Standard listing whereby it could be perceived to finally be up and running
within weeks, we could get confirmation on such sometime this month.
We had informed our listeners that GRIT would be announcing who the
auditor, merger&acquisition and legal firm maybe for GRIT. Currently
weather issues (in Europe) had delayed some administrative projects and
have delayed such announcement until we can follow up with a review of such
engagements.
There have been some unforeseeable delays, and a struggle working through
the holiday season, adding to the chaotic weather issues, feedback has been
trying at times. This past week has been in efforts to reconnect,
prioritize and inform our followers, simply open up thechannels of
communication. Communication issues such as the settling stock price, a
number one (1) shareholder concern. I agree that no CEO is ever satisfied
with their stock price, but it is clearly a lack of communication to you
our readers.
Immediate efforts are being implemented for this week that the company will
assure corporate news updates every Wednesday of the week. An events
calendar will also be made public, so that corporate initiatives can be
monitored and feedback from the company can be shared. Plainly we need to
communicate better, that will better reflect our objectives in the market,
giving a better understand of the company's determined drive to succeed.
For the past year 2010, the company has aggressively pursued targets of
interest for GRIT and its subsidiaries. Management has developed a
resourceful network of team players that will definitely be shared with, in
this coming year. We still have a couple of active Letters of Intents still
in play, and have developed some key institutional and funding interests
for the company.
Our aggressively projected forecast can still be attained. Management has
been directed to target an acquisition for each GRIT-DIVISION. With the
company's resources (people), funding sources being made available closure
will be eminent.
We have been laying the groundwork for an explosive start in 2011,
achieving a number of acquisitions in the past, with the subsidiary Texas
Petroleum spin-out. In order to build a strong, diverse, synergistic
corporation it takes a great deal of pre-planning, due diligences and the
development of a great team of people dedicated to the successful outcome
of the company's Mission. The major contributing factor to the successful
outcome of a business are from the people that operate within it; and for
this I am very proud of the people committed to the success of GRIT's
Mission. Management can now rely on industry leading experts that bring
with them an integral wealth of knowledge and experience that which GRIT
can heavily be relied upon in achieving future success.
In closing I thank everyone involved in GRIT's current and future
prosperity, together as a team we are destine to achieve our mission: To
become a leading multi-billion dollar Industrial Resources Conglomerate.'
Sincerely,
GRIT International Inc.,
President/CEO - Lawrence Zeiben
ABOUT
GRIT INTERNATIONAL INC
GRIT International is a Canadian based company registered in the State of
Nevada, US. Diversified investment and management company specializing in
industrial resources. Interests include precious metals and energy,
environmental technologies and industrial manufacturing. Seeking out
Environmentally Sustainable solutions in nuclear energy, renewable
resources in bio-waste and other alternative fuels available at present
time. Expansion of the divisions will position GRIT as a Global services
provider. For more information please visit the company's website at
www.gritintl.com
TEXAS PETROLEUM INC.
GRIT's first subsidiary spin-off company which is domestically and
internationally focusing on the acquisition(s) of producing Oil&Gas
Fields, with proven barrels in reserves as a fundamental criteria.
Domestically the company will focus on Texas Oil Reserves, noting the areas
such as East Texas Oil Fields which have produced 5.2 billion barrels of
oil since its discovery. Internationally focus will be in the emerging
markets with particular attention being addressed to the networking
connection of Ariva Resources, in the Western African Regions. Texas
Petroleum foresees a tremendous growth opportunity into these areas and
will become a major supplier of petroleum products.
Safe Harbor Statement; under the Private Securities Litigation Reform Act
of 1995: The statements contained herein which are not historical are
forward-looking statements that are subject to risks and uncertainties that
could cause actual results to differ materially from those expressed in the
forward-looking statements, including, but not limited to, certain delays
beyond the company's control withrespect to market acceptance of new
technologies or products, delays in testing and evaluation of products, and
other risks detailed from time to time in the Company's filings with the
Securities and Exchange Commission.
###
Contact: GRIT International Inc.,
Investor Relations Website: www.gritintl.com;
E-mail: grit-admin@gritintl.com
P : +1.780.513.1125
F : +1.780.814.5584
A : Suite 201, 9914 - 109th Avenue,
Grande Prairie, AB, T8V 1R7
Investor Relations - German
Mr. James Stewart
P: +49.2161 49694870
E: jstewart@gritintl.com
End of Corporate News
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