Gatorz Inc.

Gatorz Inc.

August 25, 2009 13:26 ET

Gatorz Inc. Provides Further Details on Proposed Private Placement

OAKVILLE, ONTARIO--(Marketwire - Aug. 25, 2009) -


Gatorz Inc. ("Gatorz" or "Company") (TSX VENTURE:GTZ) is pleased to provide further details of a proposed non-brokered private placement offering (the "Offering") previously announced on July 31, 2009. The Offering consists of a maximum of 3,200,000 common shares in the capital of the Company (each, a "Common Share") at a price of U.S.$0.25 Common Share for aggregate gross proceeds of U.S.$800,000. The proceeds of the Offering will be used for, among other things, debt repayment and for general working capital purposes.

Completion of the Offering for aggregate gross proceeds of U.S.$300,000 is a condition to the completion of the first stage of the business combination agreement between the Company and No Fear Retail Stores, Inc. (the "Proposed Transaction"). Please refer to the Company's press release dated July 31, 2009 for further details on the Proposed Transaction. To date the company has received subscriptions for USD $525,000 of which USD $400,000 has been deposited in trust.

There is no assurance that the Offering will be fully subscribed for. Completion of the Proposed Transaction and the Offering are subject to compliance with certain terms and conditions and subject to the receipt of all necessary regulatory approvals, including, among other things, the approval of the TSX Venture Exchange.

The Company is also pleased to announce that certain shareholders of Gatorz have notified the Company of their intent to convert certain outstanding shareholder convertible loans into Common Shares. The outstanding shareholder loans are convertible at $0.40 per Common Share, are non-interest bearing, have no set repayment terms, are unsecured and may be mandatorily converted into Common Shares by the Company at any time prior to December 31, 2010 at the current market price of the Common Shares. The conversion of the outstanding shareholder loans, in the amount of USD $839,581 will result in the issuance of an aggregate total of 2,098,952 Common Shares.

About Gatorz

Gatorz Inc. designs, manufactures, and distributes 7075 Billet Aircraft Aluminum performance eyewear, including sunglasses from handmade Acetate. Gatorz precision built aluminum eyewear is proudly made in the USA, offering superior craftsmanship, performance and durability. Gatorz proprietary technologies include the ability to customize the frame to your specific facial features. In addition, our lens technology, TruRay Optics, offers the most comprehensive assortment of ballistic impact-proof lenses which are 100% UV blocking, optically correct and distortion free. Gatorz distribution markets include: Motorsports, Motorcycle Industry, Skydiving, Military, Off-Road Industry, Action Sports, Hunting & Fishing, to name a few.

Gatorz products are proudly worn by race car drivers Marco and Michael Andretti (IRL), Kurt Busch and Sam Hornish Jr. along with top U.S bike builders and the famous Golden Knights parachute team.

Investor Relations Inquiries:

All Gatorz investor relations inquiries should be directed to Mark Di Cristofaro at 905.339-7999 ext.224 or You can also visit and sign up to receive news on the company directly to your inbox.

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 the 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 press release.

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