PALM BEACH GARDENS, Fla., Aug. 4, 2015 /PRNewswire/ -- Golden Age Resources, Inc. (OTC PINK: GDAR), one of the leading acquisition and development companies, announced today that recently the Company entered into a letter of intent dated July 19, 2015 ("LOI") with two different media companies. The LOI pursues a planned acquisition by means of a share exchange. The parties have initiated a period of due-diligence, which is intended to result in a definitive merger agreement. Management expects the acquisition to close within 30 days.
Turn-around specialist Mr. Terence Byrne, CEO of Golden Age Resources stated:
"The planned acquisition of these two media companies will allow for a highly successful media content company and a high volume media distribution company to join forces to quickly leverage aspects of each company and to create an immediate profitable strategy. These new acquisitions allow for GDAR to bring real revenues and hard assets into the Company which will have an immediate impact for the Shareholders."
With the explosion of international marketing companies, and the existing marketing contracts already in place, the Company feels this merger will enhance its shareholder value. The real power of these acquisitions live in the connections, established all over the world, with customers, partners, and existing contracts of these two marketing companies will make everything possible. The synergies expected from their combination is expected to provide an immediate growth for both companies.
During the previous fiscal year the overall revenue of the two companies was in excess of $3.5 million dollars with a combined net earnings of $325,000. The leadership team of the Company is quickly pursuing acquisitions that have revenue and are profitable. Current management projections expect to see overall revenue to increase by over 40% to $5 million per annum in the next year.
The management team of the Company is continuing to implement a bold transition to create shareholder value in their current acquisition endeavors. By pursuing existing business opportunities and relationships in establishing a new direction, the board of directors has confidence in these new investment pursuits.
About Golden Age Resources, Inc.:
GDAR, organized as a Nevada Company, provides project development; medium and long-term finance solutions and investments into high growth industries that build shareholder value over a long period of time.
Forward Looking Statements: This press release contains "forward looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended and such forward looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements are subject to risks and uncertainties that could cause future results to differ materially from the forward looking statements. You should consider these factors in evaluating the statements herein and not rely on such statements. The forward looking statements in this release are made as of the date hereof and Golden Age Resources, Inc. undertakes no obligation to update such statements.
SOURCE Golden Age Resources, Inc.