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Globalgroup Investment Holdings Signs LOI with Chit Chat Mobile
9:30a ET February 21, 2013 (PR NewsWire)
Globalgroup Investment Holdings, Inc. (OTCPINK:GIHI), a developmental supplier of proprietary technology solutions for payment and collection services, announced today the signing of a LOI with Chit Chat Mobile, LLC., the nation's newest and fastest growing prepaid cellular company. This new expansion of GIHI's mission to maximize the opportunity presented within its core market niche of unbanked and credit challenged consumers will be greatly enhanced with GIHI's new Master Dealership for Chit Chat Mobile services within the Dallas and Fort Worth, Texas Metro areas. The definitive agreement is expected to be signed and commence on or before March 31st.

In September of 2012, Chit Chat Mobile, LLC became an MVNO to provide voice, messaging, data products and services to over 250 million people in the United States. With plans starting at $9.99/month and data and other features offered as add-ons. Chit Chat Mobile has introduced a new concept to pre paid wireless, which GIHI is proud to be a part of.

John Hennessy, President and CEO of Chit Chat Mobile, LLC commented; "Here is how we did it. We started with what is most important with your wireless connection... a dependable nationwide network. We're talking about the Nationwide Sprint Network, not just local or regional coverage. We listened to prepaid mobile cellular users...and you said you were tired of being forced to buy large plans of unlimited data to connect your smart phone. In the past we, all fell for the 'unlimited' supersize plans, but we learned more is not always better. So, at Chit Chat we offer customizable plans. Now consumers can take control of their phone bill."

GIHI plans on opening several stores in the DFW metro area in 2013. GIHI will also work to convert existing metro prepaid cellular dealers into the Chit Chat family. Several local dealers have been in contact with Chit Chat to become GIHI/Chit Chat Mobile dealers in the metroplex. GIHI anticipates adding 6,000 subscribers in our first year with annual revenues exceeding $500,000.

About Globalgroup Investment Holdings, Inc.Globalgroup provides a viable online shopping alternative for fiscally challenged consumers by offering quality name brand products at affordable prices, regardless of household income, through credit alternatives and time-payment options. Globalgroup also offers technology solutions such as GlobalLOK(TM)that address the computer payment collection challenges associated with rent to own, pay as you go and no-credit-check computer markets, and in other industries where remote PCs and laptops are deployed. Sovereign Oil Inc., a wholly owned subsidiary, has its emphasis on oil and gas exploration, drilling, and well completion.

About Chit Chat Mobile LLC (www.chitchatmobile.com)Chit Chat Mobile LLC's principal owners have been in the wireless business for over 15 years. At Chit Chat Mobile it's not about the wireless bill, it's about you. You can add as little or as much as you like and pay for what you want. It's your wireless, your way!

Notice Regarding Forward-Looking Statements This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words or phrases "would be," "would allow," "intends to", "will likely result," "are expected to," "will continue," "anticipate," "expect," "estimate," "project," "indicate," "could," "potentially," "should," "believe," "considers," or similar expressions are intended to identify "forward-looking statements." Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. These include the company's historic lack of profitability, end user customer acceptance and actual demand, which may differ significantly from expectations, the need for the company to manage its growth, the need to raise funds for operations and other risks within the regulation of the industry. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company's past performance is not necessarily indicative of its future performance. The Company does not undertake, and the Company specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, events or circumstances after the date of such statement.

For additional information, contact:Globalgroup Investment Holdings, [e-mail]

SOURCE Globalgroup Investment Holdings, Inc.

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