GRIT International Inc.

GRIT International Inc.

July 07, 2009 16:00 ET

GRIT International Inc. Announces Securing Access to a EUR 5.0 Million Euro Equity Line of Credit With Global Yield Fund Limited-"GEM".

GRANDE PRAIRIE, ALBERTA--(Marketwire - July 7, 2009) - GRIT International Inc, ("GRIT") (FRANKFURT:3GR1) is ANNOUNCING THAT IT HAS SECURED ACCESS TO A EUR 5.0 MILLION EURO EQUITY LINE OF CREDIT WITH GEM - GLOBAL YIELD FUND LIMITED. GEM has agreed at GRIT's request over a Three (3) Year Term to subscribe for shares offered by the company equal to 90% of the Average closing Bid Price over a 15 Day Trading Period.

Over a Three (3) Year Period, at GRIT's discretion the timing and amount of equity can be drawn down. Nine Hundred Thousand (900,000), warrants have been offered for GEM to subscribe for over the next five years.

This is great news for GRIT International Inc, as GEM has invested in over 200 ++ companies in over 45 countries.

As GRIT's significant initial funding, the EUR 5.0 Million Equity Line of Credit will be integrated strategically as the company's available working capital. Not only is GRIT able to increase its property and facilities footprint; potentially enhance on its contractual agreements; but further focus can be addressed to acquiring distressed assets, following the tough year in capital markets.

With new funding in place, GEM as a strategic shareholder, GRIT's acquisition strategies and a positive outlook operationally; this newly formed partnership can evolve exponentially bring along with it shareholder capital appreciation.

GRIT's CEO, Mr. Lawrence Zeiben, says, "I am very appreciative in securing this initial new funding; extremely receptive to our newly formed partnership with GEM. In foresight; I see GRIT meeting all our current commitments, with GEM's facility in place, this will evoke assurances that we will meet all our current commitments. Our alliance with GEM instills confidence in management that a more aggressive effort in GRIT's growth can be strived upon."

GEM-GLOBAL YIELD FUND LIMITED is part of a group of companies controlled by Global Emerging Markets Limited ( Global Emerging Markets Limited was founded in 1991. The firm is a US $2.7 Billion alternative investment group that manages a diverse set of investment vehicles across the world. GEM's funds include: CITIC/GEM Fund; VC Bank/GEM Mena Fund; Kinderhook; GEM India and Banco Pine/GEM Funds.

GRIT INTERNATIONAL INC. GRIT International Groups Inc is a Canadian based company. Its goal is to become one of North America's major Industrially Specialized Service Providers in the Composite Abrasives Blasting & Paintings/Coatings Sector; seeking to set service standards in Craftsmanship and Quality, with service continuity and product guarantees.

Safe Harbour Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein which are not historical are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays beyond the company's control with respect to market acceptance of new technologies or products, delays in testing and evaluation of products, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.

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