DGAP-News: GRIT International Inc.: GRIT INTERNATIONAL LAUNCHES CORPORATE M&A STRATEGY BOARD SUPPORTED AND CLIFFORD CHANCE AS NEW STRATEGIC LEGAL COUNSEL
(firmenpresse) - GRIT International Inc. / Key word(s): Mergers&Acquisitions/Strategic Company Decision
03.11.2010 13:15
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GRANDE PRAIRIE, AB, Wednesday November 3rd, 2010: GRIT International Inc.,
'GRIT' (FRANKFURT: 3GR1) is pleased to announce that GRIT's management has
developed and implemented a comprehensive corporate M&A strategy which has
been approved by the company's board of directors as of today.
Besides strong and profitable organic growth GRIT will also grow
strategically through mergers, acquisitions, takeovers, and other
significant transactions of similar nature. In order to identify promising
and suitable targets and to manage each actual transaction, GRIT will add
more and more first class advisors and partners to its team who will ensure
that GRIT's growth will be professionally rolled-out and executed.
Therefore GRIT is pleased to announce that it has signed a contract with
and that it will be supported by the world's largest law firm, Clifford
Chance, which has a proven track record with the Frankfurt office and an
outstanding expertise especially in the fields of Mergers&Acquisitions.
In addition to this new strategic corporate legal counsel, GRIT has already
previously announced that the company is about to engage one of the 'Big
Four' auditing firms (Deloitte, PriceWaterhouseCoopers, KPMG, Ernst&Young)
as new corporate auditor, and moreover management confirmed today that GRIT
currently is in discussions with leading investment banks to become GRIT's
investment banking advisors for all future M&A transactions. The company
will shortly announce more details regarding both, GRIT's new investment
bank(s) and the first M&A target(s) which might also include publicly
traded companies comprised of both, friendly and hostile takeovers.
GRIT now has all the elements to a great team, because significant growth
requires significant resources, and large global transactions require large
global partners.
GRIT's CEO, Lawrence Zeiben, explained GRIT's takeover plans. 'With the new
engagement of world leading partners like Clifford Chance - and more such
key players to be shortly announced as additional GRIT advisors - we are
currently preparing for an immediate commencement of our aggressive M&A
activities which will significantly help to increase GRIT's shareholder
value.'
Furthermore GRIT would like to remind all shareholders that the company
will start with its monthly investor conference calls Today, Wednesday,
November 3th 2010, 5:00 pm (Central European time). Grit's management will
be available by telephone conference to discuss ongoing corporate
developments, which will include upcoming events and the general outlook
for the immediate future. For access, the following numbers are available:
Germany 069 40359 800 Access code 279913#
Canada 514 315 7879 Access code 279913#
United States 215 599 1757 Access code 279913#
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.
Clifford Chance is one of the world's leading law firms, with 29 offices in
20 countries and some 3,200 legal advisers. It specializes in global legal
counsel, with expertise in M&A's.
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)gritintl.com
Investor 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
Mr. James Stewart
P: +49 (0) 2161 49694870
E: jstewart(at)gritintl.com
03.11.2010 13:15 Dissemination of a Corporate News, transmitted by DGAP -
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Datum: 03.11.2010 - 13:15 Uhr
Sprache: Deutsch
News-ID 32480
Anzahl Zeichen: 0
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Kategorie:
Business News
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