Press Release Source: GTREX Capital, Inc.
GTREX Capital Announces Initial Agreement for Merger Transaction
Involving an International Green Brand with Operations in Related
Businesses
Issued Tuesday December 11, 9:16 am ET
Existing Global Travel Exchange Subsidiary Expected to Provide Travel Technology Component
for Synergistic Acquired Operations
MURRIETA, Calif.--(MARKET WIRE)--Dec. 11, 2007--GTREX Capital, Inc. (OTC BB:
GRXI), a holding company with subsidiary operations in the travel distribution industry, today
announced that it has entered into an initial agreement to acquire 80% of the issued and
outstanding shares of a company that is focused on the development of an internationally
recognized green brand for sustainable tourism and additional environmentally conscious
businesses.
The initial agreement, in the form of a memorandum of understanding, outlines the strategy for
acquiring the targeted company, which has an existing subsidiary business with operations,
existing clients and revenues. The planned structure of the post-merger entity is that the public
company will house a high profile international green brand, which is expected to become
synonymous with green sustainable tourism. There will be two operating subsidiaries of the
public company: the existing subsidiary of the acquired company, and GTREX Capital’s current
operating subsidiary, Global Travel Exchange, a travel distribution technology company that
provides a more efficient and cost-effective connection between customers and travel suppliers.
There are anticipated to be several immediate synergies between Global Travel Exchange and
the existing subsidiary of the acquired entity, as well as opportunities with additional affiliated
businesses and intellectual properties. These synergies are related to the use of Global Travel
Exchange’s travel distribution technology in global initiatives related to travel and tourism.
As part of the expected merger transaction, GTREX Capital is expected to appoint a high profile
management team with established names in the international tourism, travel, hospitality, and
business management fields.
Steven R. Peacock, interim president/chief executive officer of GTREX Capital, commented,
“This initial agreement is an important milestone in our efforts to create long-term value for the
company’s shareholders.”
In November, Mr. Peacock attended a major international environmental conference, where he
and Gary Nerison, chairman of the company’s Board of Directors, conducted meetings related to
the initial agreement and the merger strategy.
“We look forward to providing additional details of the proposed transaction, as well as the
individuals, businesses and intellectual assets that are expected to be involved in the merger, as
soon as possible,” Mr. Peacock added.
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Capital whenever new press releases, investor newsletters, SEC filings, or other information is
disclosed, please visit www.gtrexcapital.com/investor.php.
About GTREX Capital, Inc.
GTREX Capital, Inc. (www.gtrexcapital.com) is a holding company with a subsidiary
conducting business in the travel industry. Global Travel Exchange, Inc., a GTREX Capital
subsidiary, has launched its Voyager Network travel distribution platform, which provides a
service that enables direct access to reservation systems of major travel suppliers such as
airlines, cruise lines, hotels, car rental companies and providers of other travel amenities.
GTREX Capital is in the process of identifying synergistic and non-synergistic businesses as
potential acquisition targets for the company.
Safe Harbor Statement
This release contains forward-looking statements with respect to the results of operations and business of GTREX
Capital, Inc., which involves risks and uncertainties. The Company's actual future results could materially differ
from those discussed. The Company intends that such statements about the Company's future expectations, including
future revenues and earnings, and all other forward-looking statements be subject to the "Safe Harbors" provision of
the Private Securities Litigation Reform Act of 1995.
Contact:
Gemini Financial Communications, Inc.
A. Beyer
951-677-8073