SIC: 3949 State location: CA | State of Inc.: NV | Fiscal Year End: 1231 formerly: GOLFGEAR (filings through 2002-05-31) (Assistant Director Office: 5)
PHOENIX, ARIZONA -- (Marketwire) -- 03/22/12 -- Gear International, Inc. (PINKSHEETS:GEAR) is pleased to announce progress on a number of strategic initiatives that will enhance Gear's position in the marketplace. Gear has officially changed from "GOLFGEAR" to "GEAR" having effectively shifted its entire business model and direction from its prior business model. Dale Geck the president of the company has filed the name change with FINRA and all other necessary agencies. The symbol for Gear International, Inc. will remain the same. The website, www.gearii.com, will offer up to date information on the company's development.
The company acquired the knowledge and expertise of Jamal Lucas, Faisel AbulAziz and Felix Abangin who have all agreed to become advisors. As we develop our management team we are looking forward to positioning the company as a leading resource development company.
Gear's board has instructed legal counsel to reduce the authorized common stock from 2,900,000,000 to 600,000,000 and to cancel all class "C" preferred stock by the end of March 2012.
Geck states, "This change in business direction is a huge step for Gear International, Inc. The aggregate experiences of our new advisors enhance Gear's ability to continue attracting investors from new markets. The fact that individuals with diverse and accomplished profiles are advising GEAR, serves as notice for small cap gold producers to partner with GEAR and benefit from global interest in Gold as an asset. Gold will continue to be an effective asset in hedging against macroeconomic risk, sovereign credit, inflation concerns, and loose monetary policies. Our supply chain market entry point allow us to operate with positive margins even if Gold retraces 400%. Obviously there are a number of global and political scenarios that could impact gold's value to $2100/oz."
About Gear International, Inc.
GolfGear International, Inc. was originally incorporated in 1996 as a golf equipment company. The Company has recently altered its business strategy to include gold and silver mining, providing financing for gold and silver mining projects, and precious metals processing and refining.
Safe Harbor
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of GolfGear International, Inc., and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
Contacts: Gear International, Inc. Dale Geck President - CEO 1-888-550-7067 Info@gearii.com
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