Gear International, Inc. Enhances Executive Team, Significantly Reduces Share Structure
20 May 2012 - 4:31AM
Marketwired
Gear International, Inc. (PINKSHEETS:GEAR) announces the immediate
acquisition of two senior advisors that will join the company's
executive team. GEAR has finalized agreements with Mr. Felix
Abangin, the minister of environment and natural resources in the
Philippines and Mr. Jamal Lucas, an emerging market resource
development specialist with expertise in global finance. Gear has
also contracted Naccarato and Associates as the company's official
legal counsel.
The announcement is part of an overall surge in GEAR's
activities following a challenging 6-month period where GEAR's
stock was under attack from a rogue trader. "Despite a unique set
of circumstances over the past six weeks, GEAR's management team
has engaged in intensive restructuring activities to ensure
sustainable, long term value for our shareholders. We have reduced
our common authorized shares to 600,000,000 from over 2.9 billion
while reducing our preferred B authorized shares to 600,000. We
have also canceled the C shares completely. We returned 150,000
class B shares to be canceled and deposited to treasury. GEAR has
reduced the common stock through voluntary share reductions 30%
from 215 million to 147 million shares."
GEAR is committed to improving our value with a dedicated focus
on sound fiscal management and aggressive growth. Following a
rigorous review of GEAR's financial status and assets accumulated,
both senior advisors affirmed GEAR's position as one of the best
small cap metal producers on the market.
Gear President, Dale Geck affirms: "We are very pleased to
announce these postings. The capital resource relationships and
international affiliations of our advisors strengthen GEAR's
capacity to attract beneficial execution partners for our projects.
Our shareholders should be pleased that we increased their value by
30% with this share reduction; this is only the beginning."
About Gear International, Inc.:
Gear International, Inc. was originally incorporated in 1996.
The Company's strategically focused on 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 Mission Holdings LLC., 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
888-550-7067info@gearii.com www.gearii.com
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