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Gold Recycle Corp acquires The Fight Zone Inc
Deal Participants:
Acquiring Company: Gold Recycle Corp View Profile Charts Homepage
Target Company: The Fight Zone Inc View Profile Add Homepage Google Search
Deal Financials:
Date:
Announced: Mar 18, 2009
PRESS RELEASE
ADDISON, TX--(Marketwire - March 18, 2009) - The Fight Zone Inc. (PINKSHEETS: TFZI) and Gold Recycle Corp. (GRC) today announced the completion of their merger following approvals by both companies' stockholders. The agreement was finalized on Saturday, March 14, 2009 and it is now in the hands of legal counsel to have it memorialized.
"This is a defining moment for Gold Recycle Corp., providing the opportunity to create one of the finest Gold Recycling companies in the world," said Jim Epstein, chairman of Gold Recycle Corp. "We look forward to leveraging combined strengths to realize the potential of our new company and to build sustained value for our shareholders, customers, employees and communities."
"The closing of the merger marks the culmination of months of hard work," said Steven Humphries, The Fight Zone's chief executive officer. "We are creating a powerful new force in the Gold Recycling industry with the size and scope to offer the very best in services to our customers. Our immediate focus is on the thoughtful, deliberate integration and launch of our new media campaign for GRC which best serves our customers, presents new opportunities for our employees and continues to grow our businesses," added Humphries.
For a more comprehensive view of a sample commercial, planned to air nationwide through various media sources in the next month, please visit:
http://www.goldrecyclecorp.com/video.html
"We have positioned ourselves as Avis vs. Hertz. 'We Buy Harder' than our competitor! At GRC we have a quicker, safer way for customers to send us jewelry, gold, silver, platinum, diamonds, etc., plus we have 3 to 5 times higher payouts than any pawnshops, jewelry stores or other 'as seen on TV' vendors. In some instances our customers are paid the same day using Federal Express," stated James Epstein, President of the Fight Zone Inc.
The metals recycling business is the second biggest source of gold, silver and platinum worldwide; between 23% and 25% of the gold supply comes from recycling; that translates into 30 million ounces of gold into the global market from recycling. With gold trading in the $900 U.S range, that equals approximately 27 billion annually. GRC plans on capturing 5% to 10% of this market in next 2 years.
The statements contained in this press release that are not historical facts are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 ("the Securities Act"), as amended and the Private Securities Litigation Reform Act of 1995. Such forward-looking statements may be identified by, among other things, the use of forward-looking terminology such as "believes," "expects," "may," "will," "should," or "anticipates" or the negative thereof or other variations thereon or comparable terminology, or by discussions of strategy that involve risks and uncertainties. In particular, our statements regarding the anticipated growth of the company from our subsidiary divisions, the anticipated longer-term growth of our business, and the timing of the projects and trends in future operating performance are examples of such forward-looking statements. The forward-looking statements include risks and uncertainties, including, but not limited to, the timing of revenues due to the uncertainty of market acceptance and other factors, including general economic conditions, not within our control. The factors discussed herein and expressed from time to time in our filings with the Securities and Exchange Commission could cause actual results to be materially different from those expressed in or implied by such statements. The forward-looking statements are made only as of the date of this filing and we undertake no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances
Investor Contact:
Buckeye Epstein
972-248-2244
Extension 103
Banking Representation:
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Legal Representation:
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