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