GRIT International Inc.
GRIT International Inc.: GRIT INTERNATIONAL ANNOUNCES PLANNED ENTRY STANDARD LISTING AND PROVIDES FINANCIAL OUTLOOK
GRIT International Inc. / Key word(s): Letter of Intent/Miscellaneous 25.10.2010 14:49 --------------------------------------------------------------------------- GRANDE PRAIRIE, AB, Monday October 25th, 2010: GRIT International Inc., 'GRIT' (FRANKFURT: 3GR1) announces that it has signed an agreement with German market maker Renell Wertpapierhandelsbank AG (www.r-ag.de) to introduce GRIT's stock to the Entry Standard segment of Deutsche Börse's Frankfurt Stock Exchange where Renell will be GRIT's Entry Standard Listing Partner and Designated Sponsor. Entry Standard - Deutsche Borse AG Capital Marketing Services (Europe's) Premier Listing and Equity Financing Information and Networking Platform, is a segment within the Open Market providing an alternative to the Regulated Market. This provides GRIT with greater visibility, companies who wish to position themselves more clearly on the capital market by providing transparency. GRIT'S Entry Standard listing, will attract expertise of industry-specific events gaining institutional investor participation and benefit from higher share liquidity. The company's (outlook) financials and its quarterly financial releases are current with the S.E.C. As we are currently in the final quarter - GRIT will be finalizing its annual accounts as its fiscal yearend nears to a close, November 30th 2010. GRIT will soon afterwards release its annual report once the auditors have completed the fiscal year end. GRIT's projected growth potential, the primary focus for this final quarter, will demonstrate the finalization of the many projects GRIT has been working towards and will close prior to this fiscal period ending. These projects will then be reflected accurately within our Financial Statements and Corporate Annual Report. As you may recall GRIT recently announced, 'GRIT's Management had decided to engage one of the 'Big Four' auditing firms - Deloitte, Price Waterhouse Coopers, Ernst & Young, KPMG', we are proud to announce that discussions and reviews in choosing a new auditor are successfully proceeding. Management intends to announce and confirm the new auditor within the next four weeks, prior to GRIT's fiscal year end of November 30th. Responses have been heard from our shareholders noticing in the last few weeks that GRIT's growth is significantly accelerating. GRIT's management would also add that its 'Largest transaction in company history will soon close'. As significant as this is, and in efforts to prove how serious and reliable GRIT is, our chosen Big Four auditor will officially confirm and attest to each and every number in all of GRIT's transactions. 'This step speaks a clear language of, transparency, credibility, and trust, the key guiding principles for GRIT's management', outlined Lawrence Zeiben, GRIT's CEO. 'It took GRIT's founders and managers several years to finally get to the stage of where GRIT has currently positioned itself. We are now more than ever ready for the next, extraordinary & exciting deals to be structured in North America, Africa and Europe. We are not limiting ourselves to Mergers & Acquisitions, the company will continue to grow both organically and by M&A transactions that in which GRIT will shortly announce on even more future promising details', Lawrence Zeiben added. Furthermore Management has commented and explained in more detail, about the previously announced founder's lock-up regarding their 70 Million locked shares. 'This lock-up does not only prevent the locked shareholders from selling their stock on the stock market, it also prohibits any private sales outside of the stock market', Lawrence Zeiben stated. As he also very clearly pointed out 'Both management and founding shareholders have a long-term plan, fully believing in GRIT's future vision and strategy, which is why the lock-up has been implemented. Once one of the Big Four auditors have been appointed, the lock-up agreement will be carefully monitored, and reported upon monthly to GRIT and its shareholders of any potential findings of irregularities. This implemented important measure will maximize GRIT's transparency, credibility and instill trust', Lawrence Zeiben explained. GRIT INTERNATIONAL INC. GRIT International is a Canadian based company, registered in the State of Nevada; its goal is to become the leader of paint and coatings products in North America. GRIT is already a specialized service provider of composite abrasives, blasting, paintings and coatings. It is developing additional interests and assets in minerals, oil and gas, utilities and engineering. Safe Harbour Statement; under the Private Securities Litigation Reform Act of 1995: The statements contained herein which are not historical are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays beyond the company's control with respect to market acceptance of new technologies or products, delays in testing and evaluation of products, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission. Contact: GRIT International Inc., Investors Relations. Website: www.gritintl.com; E-mail: grit-admin@gritint.com Contact: GRIT International Inc., Investors Relations Website: www.gritintl.com; E-mail: grit-admin@gritintl.com P : 780.513.1125 F : 780.814.5584 A : Suite 201, 9914 - 109th Avenue, Grande Prairie, AB, T8V 1R7 Investor Relations - German James Stewart P: 0 2161 49694870 E: jstewart@gritintl.com 25.10.2010 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de ---------------------------------------------------------------------------
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