The Nooner

[retireearly]

LAS VEGAS, NEVADA--(Marketwire - Oct. 13, 2011) - GolfGear International, Inc. (PINK SHEETS:GEAR) announces that it has cancelled an additional 415,000,000 Common shares through voluntary stock cancellations. These cancellations, in conjunction with the recent cancellation of over one billion shares, have reduced the Company's issued and outstanding stock from a previous total of 1,660,593,683 shares to a balance of 245,199,683 shares.

Dale Geck, President of GolfGear International, remarked, "Over the past several weeks, Management has successfully reduced the Company's issued and outstanding stock by 1,415,394,000 shares through a voluntary share cancellation program. These remarkable reductions should assure shareholders that the Company is serious about its commitment to increase stock value on behalf of its shareholders. Additional opportunities for stock reductions continue to be pursued. Management emphasizes again that no reverse stock split is anticipated."

The Board of Directors has recently approved a change in the name of the Company from GolfGear International, Inc. to GEAR International, Inc. Management feels that the name, GEAR International, Inc., better reflects the Company's new business focus and will eliminate confusion in the market. The Company has referred this matter to its legal counsel for review and advice. The Board anticipates a formal announcement to be forthcoming upon final approval.

The Company has recently announced the execution of a joint venture agreement with Mission Holdings, LLC for placing into production the Silver Cord Mine in Arizona, a historically producing silver and gold mine with over 900 feet of existing tunnels. GolfGear plans to process gold and silver extracted from the Silver Cord Mine 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.

http://www.marketwire.com/press-release/golfgear-international-inc-announces-additional-stock-reductions-pursues-company-name-1572784.htm



All posts are simply my opinion. They are not a recommendation to either buy or sell any security. Please feel free to Private Message me anytime. Thanks.