DGAP-News: GRIT International Inc.: GRIT INTERNATIONAL ANNOUNCES PLANNED ENTRY STANDARD LISTING AND PROVIDES FINANCIAL OUTLOOK
(firmenpresse) - GRIT International Inc. / Key word(s): Letter of Intent/Miscellaneous
25.10.2010 14:50
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GRANDE PRAIRIE, AB, Monday October 25th, 2010: GRIT International Inc.,
'GRIT' (FRANKFURT: 3GR1) announces that it has signed an agreement with
German market maker Renell Wertpapierhandelsbank AG (www.r-ag.de) to
introduce GRIT's stock to the Entry Standard segment of Deutsche Börse's
Frankfurt Stock Exchange where Renell will be GRIT's Entry Standard Listing
Partner and Designated Sponsor.
Entry Standard - Deutsche Borse AG Capital Marketing Services (Europe's)
Premier Listing and Equity Financing Information and Networking Platform,
is a segment within the Open Market providing an alternative to the
Regulated Market. This provides GRIT with greater visibility, companies who
wish to position themselves more clearly on the capital market by providing
transparency. GRIT'S Entry Standard listing, will attract expertise of
industry-specific events gaining institutional investor participation and
benefit from higher share liquidity.
The company's (outlook) financials and its quarterly financial releases are
current with the S.E.C. As we are currently in the final quarter - GRIT
will be finalizing its annual accounts as its fiscal yearend nears to a
close, November 30th 2010. GRIT will soon afterwards release its annual
report once the auditors have completed the fiscal year end.
GRIT's projected growth potential, the primary focus for this final
quarter, will demonstrate the finalization of the many projects GRIT has
been working towards and will close prior to this fiscal period ending.
These projects will then be reflected accurately within our Financial
Statements and Corporate Annual Report.
As you may recall GRIT recently announced, 'GRIT's Management had decided
to engage one of the 'Big Four' auditing firms - Deloitte, Price Waterhouse
Coopers, Ernst&Young, KPMG', we are proud to announce that discussions
and reviews in choosing a new auditor are successfully proceeding.
Management intends to announce and confirm the new auditor within the next
four weeks, prior to GRIT's fiscal year end of November 30th.
Responses have been heard from our shareholders noticing in the last few
weeks that GRIT's growth is significantly accelerating. GRIT's management
would also add that its 'Largest transaction in company history will soon
close'. As significant as this is, and in efforts to prove how serious and
reliable GRIT is, our chosen Big Four auditor will officially confirm and
attest to each and every number in all of GRIT's transactions. 'This step
speaks a clear language of, transparency, credibility, and trust, the key
guiding principles for GRIT's management', outlined Lawrence Zeiben, GRIT's
CEO. 'It took GRIT's founders and managers several years to finally get to
the stage of where GRIT has currently positioned itself. We are now more
than ever ready for the next, extraordinary&exciting deals to be
structured in North America, Africa and Europe. We are not limiting
ourselves to Mergers&Acquisitions, the company will continue to grow both
organically and by M&A transactions that in which GRIT will shortly
announce on even more future promising details', Lawrence Zeiben added.
Furthermore Management has commented and explained in more detail, about
the previously announced founder's lock-up regarding their 70 Million
locked shares. 'This lock-up does not only prevent the locked shareholders
from selling their stock on the stock market, it also prohibits any private
sales outside of the stock market', Lawrence Zeiben stated. As he also very
clearly pointed out 'Both management and founding shareholders have a
long-term plan, fully believing in GRIT's future vision and strategy, which
is why the lock-up has been implemented. Once one of the Big Four auditors
have been appointed, the lock-up agreement will be carefully monitored, and
reported upon monthly to GRIT and its shareholders of any potential
findings of irregularities. This implemented important measure will
maximize GRIT's transparency, credibility and instill trust', Lawrence
Zeiben explained.
GRIT INTERNATIONAL INC.
GRIT International is a Canadian based company, registered in the State of
Nevada; its goal is to become the leader of paint and coatings products in
North America. GRIT is already a specialized service provider of composite
abrasives, blasting, paintings and coatings. It is developing additional
interests and assets in minerals, oil and gas, utilities and engineering.
Safe Harbour 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)gritint.com
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
Investor Relations - German
James Stewart
P: 0 2161 49694870
E: jstewart(at)gritintl.com
25.10.2010 14:50 Dissemination of a Corporate News, transmitted by DGAP -
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Datum: 25.10.2010 - 14:50 Uhr
Sprache: Deutsch
News-ID 32403
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