OAKVILLE, ONTARIO – March 31, 2011 – (Motor Sports Newswire) –
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
Gatorz Inc. (“Gatorz“) (TSX VENTURE:GTZ) is pleased to announce a proposed expedited non-brokered private placement offering of 1,840,404 common shares in the capital of Gatorz (each, a “Common Share“) at a price of $0.25 per Common Share, for aggregate gross proceeds of $460,101 (the “Offering“). The Offering is being filed on an expedited basis with the TSX Venture Exchange (the “Exchange“) on the date hereof. Gatorz is also pleased to announce that trading in its Common Share on the Exchange resumed trading on the opening of the market today.
The proceeds of the Offering will be used for, among other things, general working capital purposes.
The Offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange. All Common Shares issued pursuant to the Offering will be subject to a four month hold period from the date of closing of the Offering.
The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.
Gatorz Inc. (www.gatorz.com) designs, manufactures, and distributes performance eyewear, including sunglasses crafted from 7075 billet aluminum and from acetate. Gatorz precision built aluminum eyewear is proudly made in the USA, offering superior craftsmanship, performance and durability. Gatorz distribution markets include motorcycling and other motorsports, skydiving, military, off-road, action sports, and hunting & fishing.
Certain information in this press release may contain forward-looking statements. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. The risks going forward remain adding production capacity and the ability to meet this demand, controlling costs and sourcing ongoing funds to meet increased growth targets. Gatorz is also subject to the general economic conditions in the domestic and international markets it operates in. Gatorz Inc. assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to Gatorz Inc.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.