GT Legend Automotive Announces Pending Letter of Intent
August 24 2009 - 8:00AM
Marketwired
GT Legend Automotive Holdings Inc. (PINKSHEETS: GTLA) announces a
pending letter of intent to acquire Sovereign Transfer Services
Corporation, trading as Sovereign Card Services and the resignation
of its officers, Joe Flores and Michael Bacon.
A Director of GTLA said, "We expect to sign the Letter of Intent
to acquire Sovereign Transfer Services Corporation this week. The
Sovereign business will be the principal driver and future focus of
GT Legend Automotive Holdings. Sovereign is a young and growing
business, addressing a substantial market not only within the US,
but also worldwide." Also, Joe Flores and Michael Bacon have
tendered their resignations as CEO and COO, respectively. New
officers will be appointed this week.
Sir Michael Burton-Prateley, Executive Chairman of Sovereign,
said, "We are delighted to announce this strategic move, which we
believe will provide us with an appropriate platform from which to
rapidly expand our business here in the United States and around
the world. We are fortunate to have a group of key strategic
partners with whom we intend to expand Sovereign's business to its
logical full potential."
About GT Legend Automotive Holdings Inc.
GT Legend Automotive Holdings, Inc. is a Nevada corporation
developed to meet the growing needs of the ever-changing automobile
after market and to introduce a patent pending "Green Energy"
conversion for cars and trucks, that is expected to increase
mileage while adding horsepower and reducing emissions. With a
combined 40 plus years in the industry, the management of the
company are forward thinkers who see the challenges within the
industry and have not only kept up with the changes but are on the
cutting edge of technology and innovation.
About Sovereign Card Services Inc.
Sovereign Card Services provides both VISA and MasterCard,
secure, full service debit cards, providing cardholders with ready
access to cash at millions of ATMs worldwide and which enable
cardholders to conveniently pay for purchases at retailers
everywhere. In addition Sovereign cards provide secure, low cost,
convenient transfer of funds to relatives and loved ones through
Sovereign's "Companion Card" program. Sovereign Debit Cards are
easy to load, whether by cash, direct deposit, wire transfer or
money order. For more information, visit
www.sovereigncardservices.com.
Contact: Tom Parilla Parilla Investment Group 814-824-4326
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