Message #23 From:
Stock News Bot Date: December 8, 2006 10:50:00 AM
GFCI News Grifco International Inc. Announces Share Buy Back Initiative
CONROE, Texas--(BUSINESS WIRE)--Grifco International Inc.(Pink Sheets: GFCI) announced today
that its board of directors has approved a share buy back initiative to
purchase common shares of the Company. The shares of GFCI.PK will be
purchased in the open market in any amount up to five million shares by
the Company.
The timing of the buyback will be directed by Jim Dial, President and
CEO. At present, the buy back program is being financed by the Company
without the necessity of outside financing. The Company and its
management believe that the buy back program is complementary to their
goal of becoming a fully reporting company listed on the over the
counter bulletin board.
Safe Harbor Statement under the Private Securities Litigation Reform
Act of 1995: The Company cautions the assumptions, expectations,
projections, intentions, or beliefs about future events may, and often
do, vary from actual results and the differences can be material. Some
of the key factors which could cause actual results to vary from those
the Company expects include changes in natural gas and oil prices, the
timing of planned capital expenditures, availability of acquisitions,
uncertainties in estimating proved reserves and forecasting production
results, operational factors affecting the commencement or maintenance
of producing wells, the condition of the capital markets generally, as
well as our ability to access them, and uncertainties regarding
environmental regulations or litigation and other legal or regulatory
developments affecting our business. More information about the risks
and uncertainties relating to the Company's forward-looking statements
are found in our SEC filings.
