SOURCE: GREM USA

September 06, 2007 08:30 ET

GREM USA Corporate Update

FORT WAYNE, IN--(Marketwire - September 6, 2007) - GREM USA (OTCBB: GRUS) announced today that, during the months of July and August 2007, the Company had paid for all operational expenses from the sale of guitars. Additionally, the Company anticipates covering operational expenses for the month of September from revenues generated during the month.

Edward Miers, President of GREM USA, stated, "I am very pleased with today's announcement and the fact that sales revenues are covering operational expenses. GREM USA continues to focus on producing guitars that are considered to be instruments worthy of receiving praise on a world-class level. GREM has proved that it can produce an instrument in a class above all competing products."

Miers further stated, "GREM has finalized terms under which the Company will provide guitars to a major distributor. The main current objective is to further ramp up operations to position the Company to fulfill the delivery of the product to the distributor.

"GREM just recently completed production of the Company's first neck through uppercut guitar and the Company will begin taking orders immediately. Additionally, the Company has recently commenced development of the Company's first bass model and we anticipate being in full production by January 2008."

"The company fully anticipates that revenues could approach $4 million in the next 18 months. Our anticipated 36-month projections would place us in the neighborhood of $12 million in gross revenues. The company is very appreciative of all the shareholders who have been loyal and share the company's vision of future success," Miers stated.

"As a further update to shareholders, GREM USA is no longer in negotiations to acquire Nanogold Corp.," Miers stated.

About GREM USA

GREM USA is a development stage company focusing on design and manufacturing of custom hand crafted and mass-produced electric guitars.

This press release contains certain "forward-looking" statements as defined in the United States Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. Statements which are not historical facts, are forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessarily estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties. There can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors, factors that could cause actual results to differ materially from those estimated by the Company. They include, but are not limited to the Company's ability to consummate and complete operations, the Company's access to future capital, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors that may be identified from time to time in the Company's public announcements. The Company undertakes no obligation to revise or update such statements to reflect current events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

This press release is provided for information purposes only and is not intended to constitute an offer to sell or a solicitation of any offer to buy securities.

Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    GREM USA
    315 East Wallace St.
    Fort Wayne, IN 46803
    Edward Miers
    260-456-2354
    Website: http://www.gremusa.com