FRTD HULL and Fortitude Group, Inc. Announce S
Post# of 5325
HULL and Fortitude Group, Inc. Announce Subsidiary Acquisition
PR Newswire
NEW YORK, Oct. 24, 2013
NEW YORK , Oct. 24, 2013 /PRNewswire/ -- HULL Energy, Inc., now known as Gemini Group Global Corp. (OTC: HULL), and Fortitude Group, Inc. (OTC: FRTD) jointly announce the completion of the acquisition of ProCap Funding, Inc.
On October 3, 2013, HULL Energy, Inc., now known as Gemini Group Global Corp. (G3), entered into a share exchange agreement with Fortitude Group, Inc. whereby G3 agreed to sell its wholly owned subsidiary ProCap Funding, Inc. Under the terms of the agreement, G3 exchanged 100,000,000 shares of ProCap with Fortitude at a 4:1 exchange ratio, making ProCap a wholly owned subsidiary of Fortitude. ?The 400,000,000 shares issued for this acquisition were issued promulgated under Rule 145.? On October 1, 2013 , ProCap filed a Notice of Intent ( N-6f ) with the SEC to be treated as a Business Development Company.
"A BDC can be a great funding vehicle for smaller companies that lack the asset base to support cash acquisitions without entering into toxic financing arrangements.? Fortitude has several exciting projects that are in the final stages of completion. These transactions require small amounts of funding to finish, which ProCap can facilitate. ProCap has access to approximately $10 million in immediate funding capabilities and with Fortitudes investments in Big Time Auction, Smart Workout, PRIMARQ and the soon to be announced FDA approved medical device company, we see Fortitude as an explosive asset that will quickly provide exponential value to its shareholders," stated Dr. Scheer, CEO of G3.
"We have been looking for ways to complete our formally announced investments and with the acquisition of ProCap, we can finally complete what we started without using toxic financing," stated Thomas Parilla , CEO of Fortitude Group, Inc.
Gemini Group Global Corp (OTC: HULL), formerly known as HULL Energy, Inc., is a publicly held holding company that invests via equity and debt in both privately held and publicly traded companies. These investments must ?fit our specific investment strategy. G3 also buys, funds or joint venture cash-flows based projects and participates in the revenue for the duration of the income stream.
Fortitude Group Inc. is a diversified company with investments in multiple sectors of the economy targeting joint ventures, wholly owned subsidiaries and/or majority/minority positions that cross various market segments with the goal of creating a quality company that builds intrinsic value for its shareholders.
Forward Looking Statements:
This press release contains forward-looking statements. Such forward-looking statements are subject to a number of risks, assumptions and uncertainties that could cause the Company's actual results to differ materially from those projected in such statements. Forward-looking statements speak only as of the date made and are not guarantees of future performance. We undertake no obligation to publicly revise any forward-looking statements.
CONTACT:
Gemini Group Global Corp, formerly known as HULL Energy, Inc.
Alexandre Scheer , MD
info@g3corp.net
888-531-4931
SOURCE HULL Energy, Inc.