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Press Release
GTREX Capital CEO Files Form 4 on 1.6 Million Share Common Stock Purchase
Issued Thursday December 27, 11:01 am ET
Open Market Purchase Brings CEO Stock Ownership Position to over 55 Million Shares
MURRIETA, Calif.--(MARKET WIRE)--Dec. 27, 2007--GTREX Capital, Inc. (OTC BB: GRXI), which recently signed 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, today announced that on December 26, 2007, Steven R. Peacock, the company’s interim president/chief executive officer, purchased 1,600,000 shares of GTREX Capital common stock in the open market at a price of $0.006 per share. This purchase brings the total number of shares of the company’s common stock that Mr. Peacock owns to 55,087,200.
Mr. Peacock’s purchase is reflected in a Form 4 Statement of Change in Beneficial Ownership of Securities filed today with the Securities and Exchange Commission.
“I was pleased to have the opportunity to add to my common stock position, especially as we move forward with expected acquisition of a high profile international green brand,” commented Mr. Peacock. “We see so many opportunities for growth and increased value through this acquisition, both in the tourism industry and in related synergistic businesses, and we look forward to providing additional information on the merger candidate as soon as possible.”
The memorandum of understanding to acquire a majority percentage of a green brand for sustainable tourism 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.
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About GTREX Capital, Inc.
GTREX Capital, Inc. (http://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 has signed 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.
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
investors@gtrexcapital.com
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