Global Diamond Exchange Considers Acquistion of Synthetic Diamond Manufacturing and Processing Facility
March 01 2007 - 7:00AM
PR Newswire (US)
NEW YORK, March 1 /PRNewswire-FirstCall/ -- Global Diamond Exchange
Inc. (OTC:GBDX) is pleased to announce that management has begun
conducting due diligence, setting the stage for the possibility of
acquiring a synthetic diamond manufacturing and processing facility
in Moscow, Russia. Global's management sees this as an opportunity
to expand its operations by purchasing the land, equipment, and
business of another company. This is the first stage of a proposed
expansion, with the terms and conditions not yet finalized. This is
something that will obviously have to occur in the event an
acquisition is undertaken and if all parties agree to the terms it
is viable that this transaction can be completed within 60 days.
The company will continue to keep everyone informed as developments
occur. About Global Diamond Exchange: Global Diamond Exchange
originally opened their office on 2 West 46th street in the heart
of the New York's Diamond District. After several years of
operation at their New York office the company decided to shut down
the operation due to low pricing and soft demand in North America.
The company concentrated its efforts on exporting cut diamonds from
the Russia Federation and European locations. The new company has
reopened its sales offices in the original building ready to take
on the increased demand for fine quality diamonds. NOTE: Safe
Harbor for Forward-Looking Statements. This press release contains
forward-looking statements within the meaning of The Private
Securities Litigation Reform Act of 1995 (the "Act"). In
particular, when used in the preceding discussion, the words
"plan," "confident that," "believe," "scheduled," "expect," or
"intend to," and similar conditional expressions are intended to
identify forward-looking statements within the meaning of the Act
and are subject to the safe harbor created by the Act. Such
statements are subject to certain risks and uncertainties and
actual results could differ materially from those expressed in any
of the forward-looking statements. Such risks and uncertainties
include, but are not limited to, the ability of the Company to
complete the planned bridge financing, market conditions, the
general acceptance of the Company's products and technologies,
competitive factors, timing, and other risks described in the
Company's SEC reports and filings. DATASOURCE: Global Diamond
Exchange Inc. CONTACT: Alex Livak for Global Diamond Exchange Inc.,
+1-347-813-4664,
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