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Money4Gold and My Gold Envelope announce merger proposal

Tue. April 28, 2009; Posted: 05:01 AM
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Apr 28, 2009 (M2 EQUITYBITES via COMTEX) -- MFGD | Quote | Chart | News | PowerRating -- Money4Gold Holdings Inc (OTCBB: MFGD), which specialises in the large-scale recycling of gold, silver and platinum, declared on 27 April that the company has signed a letter of intent to purchase its competitor MGE Enterprises Corporation, d/b/a My Gold Envelope, through a share exchange with the privately-held Wyoming corporation's shareholders.

Under the agreement Money4Gold will issue approximately 74,000,000 shares to My Gold Envelope shareholders. Money4Gold currently has approximately 78,000,000 shares of common stock outstanding and 14,100,000 shares of convertible preferred stock. A At the conclusion of the merger, Hakan Koyuncu, currently Money4Gold's chief executive officer, will be appointed president of Money4Gold. Daniel Brauser, the current president, chief operating officer and chief financial officer, will resign as president and chief operating officer.

Doug Feirstein of My Gold Envelope will become chief executive officer and Todd Oretsky will be appointed chief operating officer. A Concurrently, Money4Gold will expand its board of directors to accommodate My Gold Envelope designees.

Comments on this story may be sent to admin@m2.com
For full details for MFGD click here.

    


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