Global Diamond Exchange Inc. Management Considers Potential Takeover or Merger
News Desk
Wed Mar 7, 7:09 AM
NEW YORK, March 7 /PRNewswire-FirstCall/ -- Global Diamond Exchange
Inc. (OTC: GBDX) is pleased to announce that management has been
approached by another company that is viewing Global Diamond as a
merger or buyout prospect.
Management will analyze any offer made by this company to determine
whether it is viable, and once an offer is made it will be analyzed
along with any other competing offers that may materialize in order to
maximize shareholder value. A third-party fairness opinion may then be
sought. This is the first stage of negotiations, and a due diligence
period must follow any agreement.
Alex Cherebkov, President of Global Diamond, stated: "The Company is
excited that a potential suitor has surfaced. Our business model was
structured to increase shareholder value through revenues and possible
acquisitions. Though this is an unexpected avenue, we are however
delighted at the prospect. We are evaluating all options."
In the event an agreement between the two companies is reached, an
appropriate announcement will be made and the necessary forms will be
filed with the Securities and Exchange Commission. At that time, we
will state: 1) the final transaction structure, and 2) the disclosure
needed to fulfill management responsibilities ensuring all
shareholders' rights and other obligations are met.
There are no guarantees at this time that a transaction will occur,
just that the company has been approached for a potential takeover or
merger. Management will communicate and update the shareholders
through press releases when appropriate. Currently, only preliminary
negotiations are in progress.
About Global Diamond Exchange:
Global Diamond Exchange originally opened their office on 2 West 46th
street in the heart of the New York's Diamond District. After several
years of operation at their New York office the company decided to
shut down the operation due to low pricing and soft demand in North
America. The company concentrated its efforts on exporting cut
diamonds from the Russian Federation and European locations. The new
company has reopened its sales offices in the original building ready
to take on the increased demand for fine quality diamonds.
NOTE: Safe Harbor for Forward-Looking Statements.
This press release contains forward-looking statements within the
meaning of The Private Securities Litigation Reform Act of 1995 (the
"Act"). In particular, when used in the preceding discussion, the
words "plan," "confident that," "believe," "scheduled," "expect," or
"intend to," and similar conditional expressions are intended to
identify forward-looking statements within the meaning of the Act and
are subject to the safe harbor created by the Act. Such statements are
subject to certain risks and uncertainties and actual results could
differ materially from those expressed in any of the forward-looking
statements. Such risks and uncertainties include, but are not limited
to, the ability of the Company to complete the planned bridge
financing, market conditions, the general acceptance of the Company's
products and technologies, competitive factors, timing, and other
risks described in the Company's SEC reports and filings.
SOURCE Global Diamond Exchange Inc.
Contacts
Alex Livak
+1-347-813-4664
in...@fortuneir.com