DGAP-News: GRIT INTERNATIONAL INC. - ANNOUNCES VOLUNTARY BINDING LOCK-UP OF SHARES
(firmenpresse) - DGAP-News: GRIT International Inc. / Key word(s): Miscellaneous
GRIT INTERNATIONAL INC. - ANNOUNCES VOLUNTARY BINDING LOCK-UP OF
SHARES
13.10.2010 / 12:46
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Wednesday, October 13th, 2010
12.00pm Central European Summer Time
PRESS RELEASE
GRIT INTERNATIONAL INC. - ANNOUNCES VOLUNTARY BINDING LOCK-UP OF SHARES
GRANDE PRAIRIE, AB, Wednesday, October 13th, 2010: GRIT INTERNATIONAL
(3GR1:F) GRIT International Inc. announced today that its founding
shareholders and directors have agreed to a binding lock-up agreement which
restricts them from selling 70 million total shares for a 3 year (plus 2
year extension option) period effective immediately. This represents the
majority of all shares issued and outstanding and coincides with the
company's 5 year projections. The announcement means that the founding
shareholders and directors will not be selling any of these shares in the
open market for the term of the agreement. Further, these shareholders have
also agreed to sell only 2% of the issued and outstanding per person and
per quarter and then only if the company has maintained a 25.00EUR share
price for 90 continuous days.
GRIT International president Lawrence Zeiben has stated, 'We hope that this
demonstrates management's intention in building upon the company's full
potential. By putting the company's interests first, we are putting our
shareholder's interests ahead of our own and we are only too willing to
manage expectations which are in the best interests of all.'
ABOUT
GRIT INTERNATIONAL INC
GRIT International is a Canadian based company registered in the State of
Nevada, US; -Diversified Industrial Services Company, offering Support
Services, Utilities, Oil&Gas and Mineral holdings. The businesses that
make up GRIT INTL - Integrate amongst each other providing a present
revenue from the energy industry and also seeks out Environmentally
Sustainable solutions in nuclear energy, renewable resources in bio-waste
and other alternative fuels available at present time. GRIT foresees
expanding its divisions from an international to that of a Global services
provider. For more information please visit the company's website at
www.gritintl.com
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 with respect 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.,
Investors Relations
Website: www.gritintl.com;
E-mail: grit-admin(at)gritintl.com
P : 780.513.1125
F : 780.814.5584
A : Suite 201, 9914 - 109th Avenue, Grande Prairie, AB, T8V 1R7
Investors Relations - German
Mr. James Stewart
P: 49 2161 49694870
E: jstewart(at)gritintl.com
End of Corporate News
13.10.2010 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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100626 13.10.2010
Datum: 13.10.2010 - 12:46 Uhr
Sprache: Deutsch
News-ID 32348
Anzahl Zeichen: 0
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Kategorie:
Business News
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