GT Legend Automotive Announces Signing Binding Memorandum of Understanding to Acquire Sovereign Card Services
September 11 2009 - 4:15PM
Marketwired
GT Legend Automotive Holdings Inc. (PINKSHEETS: GTLA) announces
that it has signed a binding letter of intent to acquire Sovereign
Transfer Services Corporation, trading as Sovereign Card Services.
Sir Michael Burton-Prateley, Executive Chairman of Sovereign, will
join the GTLA board with immediate effect.
A Director of GTLA said, "We are pleased to announce that we
have signed a binding Memorandum of Understanding to acquire
Sovereign Transfer Services Corporation. We will now work to
complete the acquisition in a timely manner and look forward to
building the Sovereign business worldwide."
Sir Michael Burton-Prateley, Executive Chairman of Sovereign,
said, "We are delighted to announce the signing of this Binding
Memorandum of Understanding and look forward to working with the
GTLA management team to roll out our business development strategy.
Sovereign's suit of products and services addresses a very
substantial domestic and international market, which we intend to
fully address."
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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