SOURCE: Converge Global, Inc.

November 05, 2013 09:00 ET

Converge Global Acquires Sintek, Inc.

TORONTO, ON--(Marketwired - Nov 5, 2013) - Converge Global, Inc. ("The Company") (OTC Pink: CVRG) announced today that the Company has closed its Agreement to acquire Sintek, Inc. ("Sintek"), a Closed Joint-Stock Company (CJSC) located in Sosnovo-Ozersk of the Russian Federation.

Pursuant to the Agreement, the Company acquired 100% of the shares of Sintek including its assets, licensing agreements and mining claims in placer gold reserves for the aggregate consideration of US$4,300,000 through the issuance of 200,000,000 shares of common stock with a one-year restriction as may be permitted under Rule 144 of the Securities Act of 1933 at a value of US$.02 per share, and US$300,000 payable in three installments of US $100,000 on or before February 1, 2014, April 1, 2014 and June 1, 2014.

Cornelia Volino, President stated, "The Closing of this acquisition marks a significant shift for the Company towards re-establishing its mining interests and expanding its global vision in the resource sector." She further stated, "Sintek, Inc., now a wholly owned subsidiary of Converge Global, Inc., will have representation on the Board of Directors and will play a major role in determining the direction of the Company. Further announcements detailing the Company's plans and appointments will be forthcoming."

Safe Harbor
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Converge Global, Inc. with members of its management team as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.

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