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Limitless Venture Group Inc Announces Spinoff of Genetically Enhanced Athletic Research Inc; Announces CEO Change

Tuesday, 29 Oct 2013 07:00am EDT 

Limitless Venture Group Inc announced that it has filed a corporate action with FINRA to spin off its G.E.A.R. subsidiary. For every 300 shares of LVGI stock held on the record date of 11/4/13, LVGI shareholders will receive 1 new share of G.E.A.R. on the payment date of 11/8/13. G.E.A.R. will be spun off with the new management team in place led by current LVGI CEO Peter Scalise who will leave his post as LVGI CEO to put forth his full focus and take the reins of G.E.A.R. alongside Liz Gaspari and Kevin Levrone. G.E.A.R. has a goal to complete a traditional IPO on an exchange within 18 months. The Company also announced a replacement for Scalise as he plans to step down as Chief Executive Officer (CEO), which is tentatively scheduled for December 1, 2013. 

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