SOURCE: Grifco International, Inc.

August 03, 2006 19:09 ET

Grifco International, Inc. Announces Special Meeting of Shareholders and Details of Merger With Public Reporting Company

HOUSTON, TX -- (MARKET WIRE) -- August 3, 2006 -- Grifco International, Inc. ("Grifco" or the "Company") (PINKSHEETS: GFCI) announced today its planned merger with a fully SEC reporting company is being completed. The fully reporting merger company will be filing with the Securities and Exchange Commission a Schedule 14A Proxy Statement with the full details of the merger. This filing will be available to all of our shareholders online at by accessing the Edgar database. Until that filing is made with the SEC, we cannot legally provide any further details.

Jim Dial stated, "We are addressing the three major concerns of our shareholders with the proposed merger. First, our shareholders want financial transparency provided by fully reporting companies. Second, our shareholders want to be listed on either the OTC.BB or AMEX because of naked short selling of non-reporting companies listed on the Pink Sheets. Third, our shareholders want share value since they believe in our product line and business strategy."

Mr. Dial continued, "Our Special Meeting of Shareholders will be scheduled back-to-back with a Special Meeting of Shareholders of our proposed merger public company. In this way, our shareholders will have full access to information. We will announce additional information next week, including a specific date and location for the Special Meeting."

About Grifco International, Inc.

Grifco International is a leading provider of oil and gas services equipment, specializing in the conception, architecture, and development of tools for the coil tubing, wire line, and snubbing industry throughout the United States, China, Mexico, South America, the Middle East and Africa. Grifco holds and owns design rights and manufacturing facilities for producing more than 6,000 products for the oil and gas industry with more than 150 clients, boasting the biggest names in the business, including Halliburton , Exxon Mobil Corp, and Schlumberger.

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Forward-Looking Statements

Certain statements in this release, and other written or oral statements made by the Company, including the use of the words "expect," "anticipate," "estimate," "project," "forecast," "outlook," "target," "objective," "plan," "goal," "pursue," "on track," and similar expressions, are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance, or achievements of the company to be different from those expressed or implied. The Company assumes no obligation and does not intend to update these forward-looking statements. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include, without limitation: competitive and general economic conditions, adverse effects of litigation, the timely development and acceptance of our products and services, significant changes in the competitive environment, the failure to generate or the loss of significant numbers of customers, the loss of senior management or increased government regulation.

Contact Information

  • Contact:
    Chicago Investor Relations LLC