DGAP-News: GRIT INTERNATIONAL EXECUTES 100% TAKEOVER OF ARIVA RESOURCES LTD.
(firmenpresse) - DGAP-News: GRIT International Inc. / Key word(s): Mergers&Acquisitions
GRIT INTERNATIONAL EXECUTES 100% TAKEOVER OF ARIVA RESOURCES LTD.
16.11.2010 / 09:00
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GRIT INTERNATIONAL EXECUTES 100% TAKEOVER OF ARIVA RESOURCES LTD.
GRANDE PRAIRIE, AB, Tuesday November 16th, 2010: GRIT International Inc.,
'GRIT' (FRANKFURT: 3GR1) is pleased to announce that it has executed and
completed the acquisition of all of the issued (25,000,000 Common Shares)
and outstanding shares of the West African Resources Company Ariva
Resources Ltd. ('Ariva'; www.ariva-resources.com)
Ariva is a privately held natural resources company exploring various
projects and properties in West Africa, including but not limited to
significant reserves of gold, uranium, iron ore, and diamonds (organized in
its Minerals Division); Oil&Gas and alternative energies such as palm oil
and bioenergy (organized in its Energy Division). Hence Ariva has a number
of highly valuable natural resources options and project plans mainly in
Guinea, Liberia and Sierra Leone which will now be finalized and launched
as part of GRIT.
GRIT is particularly pleased about the closing of this takeover transaction
as this Ariva acquisition is the first one contemplated within the
framework of GRIT's recently announced and launched M&A strategy with more
such transactions to follow soon. 'Currently GRIT is definitely in
acquisition mode, and Ariva is only the first in a series of many more
similar transactions to follow.Ariva adds very valuable strategic options
by contributing to top-level access to a variety of large key mineral
resources and other assets that will be extremely valuable and important to
GRIT and its future', commented Lawrence Zeiben, GRIT's CEO, on both the
Ariva acquisition and GRIT's successful M&A strategy.
Currently Ariva's Minerals Division is exploring various mining projects
and minerals properties in West Africa, mainly focussing on gold, uranium,
iron ore and diamond. Besides evaluating new projects and properties, Ariva
is actively negotiating with other mining, mineral companies, and
government officials to obtain and acquire significant mineral assets in
West Africa. Ariva's Energy Division focuses on both, the exploration of
significant Oil&Gas projects (onshore and offshore) and the evaluation of
alternative energy sources such as palm oil and bioenergy which will become
increasingly important in West Africa. By actively pursuing projects and
ventures in both fields of the energy sector, Ariva has positioned itself
with strategically valuable business partners with access now to key
projects in West Africa.
Willem Tijssen, Ariva's Managing Director, has a broad knowledge of the
West African Mano River Union market and has access to a network of high
level local and national authorities. Throughout the last 12 years Mr.
Tijssen and his business consultancy company Mano Properties&Investment
Inc., have been active in scrap metal operations, mining, trade,
sustainable rice cultivation and palm oil projects in the Sierra Leone,
Guinea and Liberia regions.
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.
Republic of Liberia, Sierra Leone, and Guinea - Countries in West Africa
Africa ranks first (1st) in the world, according to most current and
professional assessments, in having the world's largest concentration of
accumulated gold, antimony, bauxite, chromite, cobalt, diamonds, fluorspar,
hafnium, manganese, phosphate rock, platinum metals, titanium, vanadium,
vermiculite and zirconium. Africa supplies up to 6% of the world's demand
for aluminum, cement, coal, copper, graphite, iron ore, lead, steel and
zinc. Thirty-one percent (31%) of the world's demands for bauxite, cobalt,
manganese, phosphate and uranium is also supplied by this region. However
the largest of supplies exported from Africa a staggering 57% of the worlds
need for chromium, diamonds and gold. Guinea, Liberia and Sierra Leone in
West Africa are resource-rich countries with substantial untapped deposits
of gold, diamonds, iron ore, bauxite (25 Billion Tonnes), chromium,
uranium, rutile, tantalite and titanium.As there are significant emphases
on pure natural resources, these countries also have imposed the importance
on Good Governance Practices, gaining significant strides over the past
five years, now encouraging developmental public-private partnerships in
utilizing innovations to bring projects to scale.
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
###
Contact: GRIT International Inc.,
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
End of Corporate News
16.11.2010 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
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103616 16.11.2010
Datum: 16.11.2010 - 09:00 Uhr
Sprache: Deutsch
News-ID 32636
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