GolfGear International Inc. Announces Additional Stock and Float Reductions
02 Noviembre 2011 - 9:34AM
Marketwired
GolfGear International Inc. (PINK SHEETS:GEAR) announces that it
has cancelled an additional 50,000,000 Common shares through
voluntary stock cancellations, this has reduced the float by
30,000,000. These cancellations, in conjunction with the recent
cancellations totaling over 1,400,000,000 shares, have reduced the
Company's issued and outstanding stock from a previous total of
1,660,593,683 shares to a current balance of 195,199,683
shares.
Dale Geck, President of GolfGear International remarked, "These
latest stock cancellations should convince all our shareholders of
our unwavering intent to dramatically increase shareholder value.
Not only do these latest cancellations decrease the outstanding
shares but, most importantly, they reduce the float by 30 million
shares. GEAR is now well positioned to pursue its business strategy
of growth and acquisitions. Management again emphasizes again that
no reverse stock split is anticipated."
These cancellations will be reflected on the Company's next
filing at December 31, 2011.
About GolfGear International Inc.:
GolfGear International Inc. was originally incorporated in 1996
as a golf equipment company. The Company has recently altered its
business strategy to include gold and silver mining, providing
financing for gold and silver mining projects, and precious metals
processing and refining. The Company has recently announced the
execution of an agreement to acquire controlling interest in
Western Sierra Mining Corp. (PINK SHEETS:WSRA). The Company also
has executed an agreement with Mission Holdings, LLC for placing
into production the Silver Cord Mine in Arizona. GolfGear plans to
process gold and silver extracted from the Silver Cord utilizing an
efficient environmental extraction and refining technology under a
licensing agreement with EnviroXtract, Inc. (PINK SHEETS:EVXA).
GolfGear anticipates further announcements regarding additional
gold and silver mining and processing opportunities to be
forthcoming.
Safe Harbor
This press release contains statements that may constitute
"forward-looking statements" within the meaning of the Securities
Act of 1933 and the Securities Exchange Act of 1934, as amended by
the Private Securities Litigation Reform Act of 1995. Those
statements include statements regarding the intent, belief or
current expectations of GolfGear International, Inc., and members
of its management as well as the assumptions on which such
statements are based. Prospective investors are cautioned that any
such forward-looking statements are not guarantees of future
performance and involve risks and uncertainties, and that actual
results may differ materially from those contemplated by such
forward-looking statements. Important factors currently known to
management that could cause actual results to differ materially
from those in forward-statements include fluctuation of operating
results, the ability to compete successfully and the ability to
complete before-mentioned transactions. The company undertakes no
obligation to update or revise forward-looking statements to
reflect changed assumptions, the occurrence of unanticipated events
or changes to future operating results.
Contacts: GolfGear International Inc. Dale Geck President - CEO
1-888-550-7067Info@gearii.com
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