King Resources, Inc. (KING) Merger Candidate Update
February 14 2012 - 3:45PM
Marketwired
King Resources, Inc. (PINKSHEETS:KING)
(http://www.kingresources.com) management announces today that the
merger of King Resources, Inc. and The GridGrabber, Inc.
www.gridgrabber.com is coming closer to being a reality, after long
talks over the last few weeks with the President of "The
GridGrabber" Dennis Giancola, both parties have elected to enter
into a Letter of Intent with each other. KING has seen the finished
product and the future marketing plans of "The GridGrabber".
The Grid Grabber is basically a battery storage power which is
inverted to 110v or 240v it is wired into a switched fuse panel,
with the hydro on one side and "The GridGrabber" power on the other
side. This was designed this way just in case there was a suspected
problem the switch can easily be switched over to hydro so at no
time is there a possibility that the consumer will ever be left
with no power. "The GridGrabber's" capabilities of supplying 7000
watts continuous and surges of 14000watts gives the consumer more
than enough power to supply any household, and also more than
enough power to supply a small to medium business. "The
GridGrabber" is designed to use it during high peak hours, and let
it replenish during off-peak. This will eliminate the consumer
having to purchase hydro during peak times when it is most
expensive. We have only scratch the surface of the capabilities and
savings this product will do for the consumer.
More details will follow shortly, including appointment of new
directors and officers to KING board.
About King Resources, Inc. (KING)
The company is a convergence of leading businesses that
capitalize on new green technology, creativity, reputation and
expertise to develop and exploit opportunities in real life,
consumer savings and environmental changes that improve the quality
of life and increases the profitability of the company at the
sometime.
Safe Harbor Statement
Information in this news release may contain statements about
future expectations, plans, prospects or performance of King
Resources, Inc., that constitutes forward-looking statements for
purposes of the Safe Harbor Provisions under the Private Securities
Litigation Reform Act of 1995. The words or phrases "can be,"
"expects," "may affect," "believed," "estimate," "project" and
similar words and phrases are intended to identify such
forward-looking statements. King Resources, Inc. cautions you that
any forward-looking information provided by or on behalf of King
Resources, Inc. is not a guarantee of future performance. None of
the information in this press release constitutes or is intended as
an offer to sell securities or investment advice of any kind. King
Resources, Inc.'s actual results may differ materially from those
anticipated in such forward-looking statements as a result of
various important factors, some of which are beyond King Resources,
Inc.'s control. In addition to those discussed in King Resources,
Inc.'s press releases, public filings, and statements by King
Resources, Inc.'s management, including, but not limited to, King
Resources, Inc.'s estimate of the sufficiency of its existing
capital resources, King Resources, Inc.'s ability to raise
additional capital to fund future operations, King Resources,
Inc.'s ability to repay its existing indebtedness, the
uncertainties involved in estimating market opportunities, and in
identifying contracts which match King Resources, Inc.'s capability
to be awarded contracts. All such forward-looking statements are
current only as of the date on which such statements were made.
King Resources, Inc. does not undertake any obligation to publicly
update any forward-looking statement to reflect events or
circumstances after the date on which any such statement is made or
to reflect the occurrence of unanticipated events.
Contacts: Investor Relations www.minamargroup.net/helpdesk
Investor Relations Department Inquiry www.minamargroup.com/updates
King Resources Inc.corporate@king-resources.com
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