Buyer Group International, Inc. To Release Package of Supplemental Information Containing Information from Its Conduit Lender...
June 04 2013 - 8:40AM
OTC Markets
Buyer Group International, Inc. To Release Package
of Supplemental Information Containing Information from Its Conduit
Lender with
Acknowledgment Identifying Cash Backed Assets from Capital
Source
June 4, 2013 ? Austin, TX Buyer Group International, Inc.
(BYRG.PK) the (?Company?) updated its disclosures on May 6, 2013
that it had received
executed Deed of Agreement and identified cash backed assets from a
funding
source with financial capability to supply capital to induce
development of
some of its large scale projects, namely Feldspar in Arizona and a
newly
acquired Bentonite Project in South Texas (details to subsequently
be
released).
In a recent phone interview, CEO David Bryant was quoted as
saying, ?BYRG will be uploading to OTC a Supplemental Information
package containing
redacted financial information that outlines basic details by which
the company
has received acknowledgement from its lender, who is structuring a
financing
facility in excess of $120 million utilizing a conduit composed of
a third
party intermediary and capital source at a major bank. Due to
Compliance and Confidentiality
reasons, we cannot disclose the third party intermediary as we are
at a crucial
stage in the financing of the conduit. As
provided by our conduit lender, the capital source as noted in the
package, indicates
that cash backed assets in excess of $120 million have been
acknowledged by intra-bank
system ratifying a Non-Operative financial instrument inside a top
25 global
bank. Our transaction as proposed is
subject to our Lenders executed Deed of Agreement with the
intermediary and capital
source. We anticipate a final
verification of paperwork and documents that will indicate the
conduit being
structured and being funded by the capital source with activation
of an operative
instrument and the bank?s subsequent responsibilities after
receiving final instruction
to schedule payment disbursement (via ICBPO) from the third party
intermediary
group.?
Mr. Bryant further stated, ?As we near the final stages we will
do our best to keep our shareholders informed while maintaining the
strictest
compliance and confidentiality that is required under the Bank
Secrecy Act and Trade
Secrets Act among other rules and regulations. As trite as they may
seem, overall,
it?s to the health of the company as a whole to only release the
information
appropriately to protect our shareholders and our clients. We
expect to
finalize and post the Supplemental Information package around close
of business
today.?
See BYRG public disclosure at http://www.otcmarkets.com/stock/BYRG/company-info for
full details. Completion of proposed
transactions and developments are dependent upon many important
contingencies,
including BYRG obtaining financing and guarantees, of which there
is no
assurance.
Safe Harbor Statement
Information in this
news release may contain statements about future expectations,
plans, prospects
or performance of Buyer Group International, Inc. that
constitute
forward-looking statements for purposes of the Safe Harbor
Provisions under the
Private Securities Litigation Reform Act of 1995. The words or
phrases
"can be", "expects", "may affect",
"believed", "estimate", "project" and similar
words and phrases are intended to identify such forward-looking
statements.
Buyer Group International, Inc. cautions you that any
forward-looking
information provided by or on behalf of Buyer Group International,
Inc. is not
a guarantee of future performance. Completion of the transaction is
dependent
upon important contingencies, including completion of financing, of
which there
is no assurance. None of the information in this press
release
constitutes or is intended as an offer to sell securities or
investment advice
of any kind. Buyer Group International, Inc.'s actual results may
differ materially
from those anticipated in such forward-looking statements as a
result of
various important factors, some of which are beyond Buyer Group
International,
Inc.'s control. In addition to those discussed in Buyer Group
International,
Inc.'s press releases, public filings, and statements by Buyer
Group
International, Inc.'s management, including, but not limited to,
Buyer Group
International, Inc.'s estimate of the sufficiency of its existing
capital
resources, Buyer Group International, Inc.'s ability to raise
additional
capital to fund future operations, Buyer Group International,
Inc.'s ability to
repay its existing indebtedness, the uncertainties involved in
estimating
market opportunities, and in identifying contracts which match
Buyer Group
International, Inc.'s capability to be awarded contracts. All
such
forward-looking statements are current only as of the date on which
such
statements were made. Buyer Group International, Inc. does not
undertake any
obligation to publicly update any forward-looking statement to
reflect events
or circumstances after the date on which any such statement is made
or to
reflect the occurrence of unanticipated events.
Source: Buyer Group
International, Inc.
Investor Relations Management: Inter Global Investments
214-810-1317
ir@byrg.org
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