The Fight Zone Inc. Completes Merger With Gold Recycle Corp.
March 18 2009 - 9:00AM
Marketwired
The Fight Zone Inc. (PINKSHEETS: TFZI) and Gold Recycle Corp. (GRC)
today announced the completion of their merger following approvals
by both companies' stockholders. The agreement was finalized on
Saturday, March 14, 2009 and it is now in the hands of legal
counsel to have it memorialized.
"This is a defining moment for Gold Recycle Corp., providing the
opportunity to create one of the finest Gold Recycling companies in
the world," said Jim Epstein, chairman of Gold Recycle Corp. "We
look forward to leveraging combined strengths to realize the
potential of our new company and to build sustained value for our
shareholders, customers, employees and communities."
"The closing of the merger marks the culmination of months of
hard work," said Steven Humphries, The Fight Zone's chief executive
officer. "We are creating a powerful new force in the Gold
Recycling industry with the size and scope to offer the very best
in services to our customers. Our immediate focus is on the
thoughtful, deliberate integration and launch of our new media
campaign for GRC which best serves our customers, presents new
opportunities for our employees and continues to grow our
businesses," added Humphries.
For a more comprehensive view of a sample commercial, planned to
air nationwide through various media sources in the next month,
please visit:
http://www.goldrecyclecorp.com/video.html
"We have positioned ourselves as Avis vs. Hertz. 'We Buy Harder'
than our competitor! At GRC we have a quicker, safer way for
customers to send us jewelry, gold, silver, platinum, diamonds,
etc., plus we have 3 to 5 times higher payouts than any pawnshops,
jewelry stores or other 'as seen on TV' vendors. In some instances
our customers are paid the same day using Federal Express," stated
James Epstein, President of the Fight Zone Inc.
The metals recycling business is the second biggest source of
gold, silver and platinum worldwide; between 23% and 25% of the
gold supply comes from recycling; that translates into 30 million
ounces of gold into the global market from recycling. With gold
trading in the $900 U.S range, that equals approximately 27 billion
annually. GRC plans on capturing 5% to 10% of this market in next 2
years.
The statements contained in this press release that are not
historical facts are forward-looking statements within the meaning
of Section 21E of the Securities Exchange Act of 1934 ("the
Securities Act"), as amended and the Private Securities Litigation
Reform Act of 1995. Such forward-looking statements may be
identified by, among other things, the use of forward-looking
terminology such as "believes," "expects," "may," "will," "should,"
or "anticipates" or the negative thereof or other variations
thereon or comparable terminology, or by discussions of strategy
that involve risks and uncertainties. In particular, our statements
regarding the anticipated growth of the company from our subsidiary
divisions, the anticipated longer-term growth of our business, and
the timing of the projects and trends in future operating
performance are examples of such forward-looking statements. The
forward-looking statements include risks and uncertainties,
including, but not limited to, the timing of revenues due to the
uncertainty of market acceptance and other factors, including
general economic conditions, not within our control. The factors
discussed herein and expressed from time to time in our filings
with the Securities and Exchange Commission could cause actual
results to be materially different from those expressed in or
implied by such statements. The forward-looking statements are made
only as of the date of this filing and we undertake no obligation
to publicly update such forward-looking statements to reflect
subsequent events or circumstances
Investor Contact: Buckeye Epstein 972-248-2244 Extension 103
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