LAS VEGAS, Aug. 16, 2011 /PRNewswire/ -- Grupo
International, Inc., (OTC/Pink Sheets: trading symbol "GRPI" )
Ramon Richard, President, announced that the audit required
for the acquisition of Richard y Lange will be completed by
mid-September. Under the original terms, Grupo International was to
issue 8,000,000 shares of restricted common stock for 80% ownership
of Richard y Lange Corporation, based on net assets of $5M. Preliminary financial statements indicate
that the net asset value is approximately $6.0M.
Other results shown in the due diligence indicate that Richard y
Lange currently has $5M in
outstanding construction contracts that are expected to commence in
September 2011. Richard y Lange
has recently completed work at the San Felipe gold mine, owned by
Cicsa S.A. de C.V., a division of Grupo
Carso.
Grupo International will own 80% of Richard y Lange, a
corporation that specializes in Construction, and construction
industry products which includes the RiMart Specialty Tool
and Franchised Hardware Stores, Mining Sand Concessions, a Cement
Block Manufacturing Plant, and an in house Preferred Credit Card
Division. Each operation interacts with each Division, allowing for
a competitive working structure. Additional information can be
found in the Company's most recent filings and the Company's web
site (www.grupointl.com) describing the business and
transaction.
For additional information please contact Investors Relations
listed below:
Safe Harbor:
The information contained in this press release, including any
"forward-looking" statements within the meaning of section 27A of
the securities Act of 1993 and Section 21E of the Securities
Exchange Act of 1934 contained herein, should be reviewed in
conjunction with the Company's Annual Report on Form 10-KSB and
other publicly available information regarding the Company, copies
of which are available from the Company upon request. Such publicly
available information sets forth many risks and uncertainties
related to the Company's business and such statements, including
risks and uncertainties related to that are unpredictable and
outside of the influence and/or control of the Company. In
particular, these risks and uncertainties include, without
limitation: that third parties may be successful in challenging the
patent issued; that granted claims may be held invalid or
interpreted differently by a court of law; that other patents will
issue that will block the Company from commercializing the
technology covered by the patents; and that the benefits that
Company believes can be derived from the patented technology will
not be realized due to difficulties encountered in the long and
expensive process of the development of new technologies and the
cost and uncertainty in obtaining regulatory approval for products
based on these technologies. In addition, there are many other
risks and uncertainties inherent in the development of the
Company's products, including the risk of not obtaining regulatory
approval for a variety of reasons and the risk of adverse side
effects in humans. Other risks relating to Company are detailed
from time to time in documents filed by Company with the SEC.
CONTACT:
Grupo International Inc.
Investors Relations:
Email: IR@grupointl.com
702-952-3998
SOURCE Grupo International, Inc.
