GBDX BUY OUT NEWS- NEW YORK, NY, Sep 17, 2007 (MARKET WIRE via COMTEX) -- Management for Sib Almaz is pleased to announce that it has completed the purchase of the controlling interest in Global Diamond Exchange Inc. (PINKSHEETS: GBDX). Sib Almaz is now in full control of the company with new management already in place.
New Chief Executive Officer, Mr. Slava Beurikov states that, "Purchasing the controlling interest of Global Diamonds Exchange and installing new management was the first part of the transaction. We are now proceeding with the second step -- to reduce the number of shares, through various means including but not limited to a repurchase of shares. The company's ultimate goal is to eventually exit from the domestic markets. Details will be made public through press releases as they occur and the transaction progresses."
The upcoming fall season -- New staff has been hired and fall orders have already been placed. The company views the New York office as an exciting opportunity to expand its business into New York City and utilize the space that is available. Additionally, Sib Almaz is considering the opportunity to enter the retail side of the business and is looking into acquiring retail space in New York City's Diamond District.
AI
