SOURCE: GroFeed Inc.

January 04, 2007 08:30 ET

GroFeed Inc. Is Pleased to Announce Its Merger With Rima America Inc.

BAY CITY, MI and TORONTO -- (MARKET WIRE) -- January 4, 2007 --GroFeed Inc. (PINKSHEETS: GFDI) is pleased to announce its merger with Rima America Inc. Rima America is an Italian-based fashion manufacturer which has secured the exclusive rights to market the Lamborghini fashion product line in North America.

GroFeed is consolidating its stock 42-1 and post consolidation, issuing thirty (30) million shares to acquire one hundred (100%) of Rima Inc. Rima is a 20-year-old company with annual revenues of approximately two million Euros. Rima is profitable with about one hundred thousand (100,000) Euros profit in 2006. Rima custom manufactures for major labels in Europe such as Versace.

Carlo Manuppella, CEO of Rima and Rima America Inc., asserts, "It has been my dream to market premium fashion products in North America. With our exclusive agreement with Lamborghini and our new public entity in America my dreams have been realized. We are confident that the quality fashion products our company creates will give us great access into the premium market places in the US and Canada."

Rima will aggressively market the Rima fashion products through trade shows, trunk shows and through respected fashion agents.

Forward-Looking Statements

The information contained herein regarding risks and uncertainties, which may differ materially from those set forth in these statements, in addition to the economic, competitive, governmental, technological and other factors, constitutes a "forward-looking statement" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, the Private Securities Litigation Reform Act of 1995. While the company believes that the assumptions underlying such forward-looking information are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the forward-looking information will prove to be accurate. Accordingly, there may be differences between the actual results and the predicted results, and actual results may be materially higher or lower than those indicated in the forward-looking information contained herein.

Certain statements contained in this press release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are based on beliefs of management, as well as assumptions made by and information currently available to management. Forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from expected results. Forward-looking statements involve known and unknown risks and uncertainties, which may cause GroFeed Inc. actual results in future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, volatility of commodity prices, product demand, market competition and risks inherent in GroFeed Inc. operations.

Contact Information

  • Contact:
    Lorne Dingle
    (989) 509-5931