GRIT International Inc.
GRIT International Inc.: GRIT INTERNATIONAL LAUNCHES CORPORATE M&A STRATEGY BOARD SUPPORTED AND CLIFFORD CHANCE AS NEW STRATEGIC LEGAL COUNSEL
GRIT International Inc. / Key word(s): Mergers & Acquisitions/Strategic Company Decision 03.11.2010 13:15 --------------------------------------------------------------------------- GRANDE PRAIRIE, AB, Wednesday November 3rd, 2010: GRIT International Inc., 'GRIT' (FRANKFURT: 3GR1) is pleased to announce that GRIT's management has developed and implemented a comprehensive corporate M&A strategy which has been approved by the company's board of directors as of today. Besides strong and profitable organic growth GRIT will also grow strategically through mergers, acquisitions, takeovers, and other significant transactions of similar nature. In order to identify promising and suitable targets and to manage each actual transaction, GRIT will add more and more first class advisors and partners to its team who will ensure that GRIT's growth will be professionally rolled-out and executed. Therefore GRIT is pleased to announce that it has signed a contract with and that it will be supported by the world's largest law firm, Clifford Chance, which has a proven track record with the Frankfurt office and an outstanding expertise especially in the fields of Mergers & Acquisitions. In addition to this new strategic corporate legal counsel, GRIT has already previously announced that the company is about to engage one of the 'Big Four' auditing firms (Deloitte, PriceWaterhouseCoopers, KPMG, Ernst&Young) as new corporate auditor, and moreover management confirmed today that GRIT currently is in discussions with leading investment banks to become GRIT's investment banking advisors for all future M&A transactions. The company will shortly announce more details regarding both, GRIT's new investment bank(s) and the first M&A target(s) which might also include publicly traded companies comprised of both, friendly and hostile takeovers. GRIT now has all the elements to a great team, because significant growth requires significant resources, and large global transactions require large global partners. GRIT's CEO, Lawrence Zeiben, explained GRIT's takeover plans. 'With the new engagement of world leading partners like Clifford Chance - and more such key players to be shortly announced as additional GRIT advisors - we are currently preparing for an immediate commencement of our aggressive M&A activities which will significantly help to increase GRIT's shareholder value.' Furthermore GRIT would like to remind all shareholders that the company will start with its monthly investor conference calls Today, Wednesday, November 3th 2010, 5:00 pm (Central European time). Grit's management will be available by telephone conference to discuss ongoing corporate developments, which will include upcoming events and the general outlook for the immediate future. For access, the following numbers are available: Germany 069 40359 800 Access code 279913# Canada 514 315 7879 Access code 279913# United States 215 599 1757 Access code 279913# 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. Clifford Chance is one of the world's leading law firms, with 29 offices in 20 countries and some 3,200 legal advisers. It specializes in global legal counsel, with expertise in M&A's. 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@gritintl.com Investor 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 Mr. James Stewart P: +49 (0) 2161 49694870 E: jstewart@gritintl.com 03.11.2010 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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