Grifco International, Inc. Announces Shareholder Meeting and Plan of Merger Details
Friday August 11, 2:06 pm ET
HOUSTON, TX--(MARKET WIRE)--Aug 11, 2006 -- Grifco International, Inc. ("Grifco" or the "Company") (Other OTC:GFCI.PK - News) announced today that the merger documents with a fully reporting company will be completed next week. The FAQ or frequently asked questions section on our website will provide full details next week about the merger. The Company has been advised by securities counsel that the details of the merger must be announced by us at the same time as the information is announced to the public company's shareholders.
"The merger is a tax free exchange of shares which required us to file amendments to our articles of incorporation. We also capitalized a new affiliated company to help us in the merger and financing of targeted oil and gas leases," stated Jim Dial, President and CEO.
Mr. Dial stated further, "We are pleased that our majority shareholders share our vision of growth with accountability through the merger with the fully reporting public company."
The Form 14A proxy statement will be available to all of our shareholders online at
www.sec.gov by accessing the Edgar database following execution of the merger documents next week.
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Our shareholder meeting is tentatively set for September 27, 2006 at 10:00 a.m. in Las Vegas, NV subject to confirmation of our venue. A definitive record date of shareholders entitled to vote at the meeting will be set by the Board of Directors in accordance with the articles of incorporation and bylaws. Our shareholder meeting will be set at the same time as the public reporting company holds its shareholder meeting. The agenda for the shareholder meeting will be to approve or otherwise ratify the merger plan and its constituent parts.
About Grifco International, Inc.
Grifco International is a leading provider of oil and gas services equipment, specializing in the conception, architecture, and development of tools for the coil tubing, wire line, and snubbing industry throughout the United States, China, Mexico, South America, the Middle East and Africa. Grifco holds and owns design rights and manufacturing facilities for producing more than 6,000 products for the oil and gas industry with more than 150 clients, boasting the biggest names in the business, including Halliburton, Exxon Mobil Corp, and Schlumberger.
For more information, please visit:
www.grifco.org.
Forward-Looking Statements
Certain statements in this release, and other written or oral statements made by the Company, including the use of the words "expect," "anticipate," "estimate," "project," "forecast," "outlook," "target," "objective," "plan," "goal," "pursue," "on track," and similar expressions, are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance, or achievements of the company to be different from those expressed or implied. The Company assumes no obligation and does not intend to update these forward-looking statements. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include, without limitation: competitive and general economic conditions, adverse effects of litigation, the timely development and acceptance of our products and services, significant changes in the competitive environment, the failure to generate or the loss of significant numbers of customers, the loss of senior management or increased government regulation.
Contact:
Contact:
Chicago Investor Relations LLC
312.238.9875
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Source: Grifco International, Inc.
