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Gold Bag, Inc. Confirms New Business and Forward Stock Split
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DALLAS, TX, Jun 01 (MARKET WIRE) --
Gold Bag, Inc. (OTCBB: GBGI) f/k/a Real Estate Referral Center, Inc.
("Gold Bag" or the "Company") changed its name to Gold Bag, Inc. to
reflect its new business of purchasing and recycling items containing
precious metals. In recent months, the Company elected Lance Ayers as its
sole officer and director.
In April 2009, Mr. Ayers, as the Company's sole officer, director, and
majority shareholder, approved a change in the business and name of the
Company and also declared a forward stock split on a 10 for 1 basis (the
"Forward Split") of the Company's 6,964,000 outstanding shares of Common
Stock. The Record Date of May 22, 2009 was set to determine the
shareholders entitled to receive the Forward Split shares. The Pay Date
for the Forward Split shares was May 29, 2009 after which there were
approximately 69,640,000 shares outstanding. At the opening of the market
today, the name change and Forward Split were effective and the Company
now trades its Common Stock under the symbol "GBGI."
Gold Bag is in the business of purchasing gold coins and unwanted or
broken jewelry directly from the general public via a pre-paid, insured
mailer. Dealing with the customer directly enables a faster sale to the
consumer and all parties avoid the costs of a middleman. Once the gold
coins and items containing precious metals are purchased from the
customer, the items are sent to a refinery that produces a pure form of
the precious metal that is then sold for a profit.
Mr. Ayers, the Company's President, stated, "In effecting the Forward
Split, we are attempting to enhance shareholder value and provide
increased liquidity in the current trading market. We believe our new
business opportunity is exciting and relevant, and when fully
implemented, will put the Company into a cash-flow positive position
before year end."
About Gold Bag, Inc.
Gold Bag, Inc. is in the business of purchasing gold coins and other items
containing precious metals directly from the general public to provide a
fast and convenient solution for those who want to sell their unwanted
items. Our customers can be any individual and entity worldwide. Customers
simply request a pre-paid, insured mailer on our future website,
www.goldbag.com. The customer's items are delivered to a secure location
and analyzed for precious metal content. Within 72 hours of the analysis,
payment is sent to the customer. If the customer accepts the offer, the
purchased items are refined and sold for profit.
Questions may be addressed to support@goldbag.com or to President Lance
Ayers at 972-364-9096. More information about the Company will soon become
available on its new website at www.goldbag.com.
This press release shall not constitute an offer to sell or a solicitation
of an offer to buy securities of Gold Bag, Inc. Certain statements in this
release and other written or oral statements made by or on behalf of the
Company are "forward-looking statements" within the meaning of the federal
securities laws. Statements regarding future events and developments and
our future performance, as well as management's expectations, beliefs,
plans, estimates or projections relating to the future are forward-looking
statements within the meaning of these laws. The forward-looking
statements are subject to a number of risks and uncertainties including
market acceptance of the Company's services and projects and the Company's
continued access to capital and other risks and uncertainties. The actual
results the Company achieves may differ materially from any
forward-looking statements due to such risks and uncertainties. These
statements are based on our current expectations and speak only as of the
date of such statements. The Company undertakes no obligation to publicly
update or revise any forward-looking statement, whether as a result of
future events, new information or otherwise.
Lance Ayers
President
972-364-9096
Email Contact
www.goldbag.com
Copyright 2009, Market Wire, All rights reserved.
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