Gear International, Inc.: News Release
15 September 2012 - 1:54AM
Marketwired
GEAR International (PINKSHEETS:GEAR) has negotiated key agreements
in the Philippines that enhance the company's strategic advantages
in the Pacific Rim. GEAR officially finalized an agreement to
acquire copper ore from small scale miners in the Philippines. In a
separate joint venture agreement, GEAR will process, crush, and
concentrate copper ore at the GEAR YARD in the Philippines and
deliver the ore to the regional marketplace.
These agreements represent a milestone for GEAR given the
Philippines' strategic location in the Pacific Rim. Economic
activity in the Far East consistently supports increased
commodities prices for copper and iron ore. GEAR is actively
negotiating with end users in China and Korea who have demonstrated
demand for the product through a long-term partnership with
GEAR.
These agreements should support shareholder confidence as GEAR
approaches profitability. Yesterday, GEAR CEO Dale Geck and
director Jamal Lucas addressed approximately 100 investors by
conference call. Geck informed investors that health ailments
impacted his ability to perform. Mr. Lucas expressed optimism and
suggested that GEAR's "brightest days" are ahead while signaling
that new developments would be released in the near term.
GEAR management has provided no direct comment amid speculation
regarding Geck stepping down and his potential replacement. GEAR
Director Jamal Lucas commented, "As a company, GEAR has
demonstrated a commitment to identifying the appropriate resources
that ensure the company's continued growth. We are excited about
the value that Mr. Rick Vanderhost brings to the company, and will
make additions that enhance company value."
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 Philippines mining agreement, 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 888-519-4718
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