Placer Gold Operation Acquisition in Plans for Converge Global, Inc.
TORONTO, ON--(Marketwired - Sep 26, 2013) - Converge Global, Inc. ("The Company") (OTC Pink: CVRG) announced today that the Company has entered into an agreement to acquire Sintek, Inc. ("Sintek"), a closed joint-stock company located in Sosnovo-Ozersk, Russian Federation.
In the terms of the agreement and subject to closing, Sintek would become a wholly owned subsidiary of the Company including its assets, licensing agreements and mining claims for placer gold reserves. Management is presently completing their due diligence on Sintek, its licenses, operations and gold production and will provide shareholders with further details upon completion.
Cornelia Volino, President, stated, "The Company's proposed plan to re-establish its long-term business involvement in the resources sector would provide the diversification required to encourage a solid corporate foundation in a variety of industry sectors." She further stated, "We look forward to the opportunity of working together in collaboration with Sintek, Inc. and the re-formation of our resource industry advisory team to establish and ensure a cohesive corporate organization."
The Company will continue to seek additional acquisitions, encourage strategic alliances and assess business development considered by Management to have the strongest potential to maximize shareholder value while supporting and encouraging corporate growth in a variety of industry sectors.
Safe Harbor
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Converge Global, Inc. with members of its management team as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
