SOURCE: Converge Global, Inc.
May 29, 2014 08:15 ET
TORONTO, ON--(Marketwired - May 29, 2014) - Converge Global, Inc. (OTC Pink: CVRG) (PINKSHEETS: CVRG) (the "Company") announced today its strategic development around gold mining.
According to the Company, the success of its recent acquisition of CJSC Sintek, Inc. has had the result of focusing the development of the Company towards seeking to increase gold production as well as seeking to acquire new exploration projects and operating producing gold mines. The Company has begun the process of evaluating its other non gold related assets to divest these assets over the coming months. The Company may hire an investment firm to assist in the divesture and funds generated from the sale will be re-invested towards achieving our new corporate objectives.
"Our focus is clear, increase gold production of existing properties as well as acquire new properties to help the creation of significant and sustainable cash flows for our shareholders," said Oleg Kiselev, Chief Operating Officer, of Converge Global, Inc. and General Manager of Operations of CJSC Sintek, Inc. "The recent volatility in the market has created a tremendous opportunity for us to be able to acquire several producing properties in the near future," added Mr. Kiselev.
About Converge Global, Inc.
Converge Global, Inc. is a publicly traded junior gold producer with operations in the Russian Federation. Converge Global, Inc. seeks to acquire gold producing mining operations in the Russian Federation as well as other markets.
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.
CONTACT: Alexander Shirokov
CONTACT: Alexander Shirokov
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