Replies to post #2856 on Matchaah Holdings Inc. (MCHA)

[abc1938]

So why is it up for sale?

[TH_Stockhunter]

GolfGear International Inc. Enters into an Agreement to Acquire Controlling Interest in Western Sierra Mining Corp.

LAS VEGAS, NEVADA, Oct 31, 2011 (MARKETWIRE via COMTEX) -- GolfGear International Inc. (PINK SHEETS: GEAR) announces that it has entered into an agreement to acquire controlling interest in Western Sierra Mining Corp. (PINK SHEETS: WSRA). The acquisition of Western Sierra will provide GEAR with a strategic partner in the precious metals mining industry and will represent a major step forward for GEAR in its strategy of becoming a significant mining and ore processing company.
Western Sierra is a 1903 mining company focusing on exploration, mine development and operations. The Company performs independent and third party mine valuations, mine engineering, NI 43-101 services, investor certifications and contract mining. The Company has over 2,000 shareholders, total assets of $9.3 million, a book value of $7.8 million and $270,000 of cash restricted for mine development. The Company owns numerous mining claims including Gold Crown, Table Mesa, Gold Star, Oro Cache, Eagle and Big Chief. These claims consist of over 1,000 acres and contain total gold mineral resources in excess of $361 million and total silver mineral resources of $29 million. The Company has several mine operating contracts in place.

Dale Geck, President of GolfGear International stated, "The acquisition of Western Sierra will provide GEAR with the opportunity to quickly expand its operations into the precious metals mining industry. We look forward to working with Western Sierra to locate, develop and operate multiple gold and silver mines. Our plans would be to leave current management in place. We anticipate that our acquisition of Western Sierra will be the first of many strategic relationships and acquisitions as we expand our operations in this industry."

GolfGear International anticipates the agreement will be finalized and completed within the next 2 weeks. GEAR will not be issuing additional stock to complete the transaction.