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AMERIGO ENERGY SIGNS LETTER OF INTENT
LETTER OF INTENT TO PROVIDE SHAREHOLDERS WITH INCREASED VALUE
PRESS RELEASE Source: Amerigo Energy, Inc. On Tuesday, March 29, 6:00 am EDT
HENDERSON, Nev., March 29, 2011 /PRNewswire/ -- Amerigo Energy, Inc. "The
Company" (OTC Bulletin Board:AGOE.ob - News), announced the execution of a
letter of intent with Grazy.com, Inc. for the purchase of Grazy.com, and all
its corresponding intellectual property for 23 million shares of stock. The
details of the letter of intent are being filed with the Securities and
Exchange Commission, concurrent with this press release.
Ronald Fricke, co-founder of Grazy.com, stated "we are extremely excited for
the company to launch into this sector through AGOE.ob a fully reporting public
company and be able to grow at what we hope is at a very quick rate". Ron was
one of the co-founders of the popular brand "Fathead" and was instrumental in
the sale of the company to The Camelot Venture Group.
Grazy.com is an e-commerce company positioning itself to become a very
competitive player in the coupon marketing sector, in offering both traditional
and online merchants an opportunity to connect with buyers in a unique way.
Leveraging the exploding social media revolution, members are given a chance to
"Join the Herd" and "Graze where the grass is ALWAYS greener". A free,
membership-based online community, Grazy.com members gain access to super
saving deals and tremendous money saving offers from our advertisers. Grazy.com
is the traditional coupon based platform that will offer some twists and
benefits not yet seen in this space. Grazy.com will have a singular, national
"deal" along with numerous city deals and then roll out aggressively throughout
the country, despite other companies that are firmly entrenched in this space.
I view there is plenty of room for another major player to join the herd and
that is Grazy.com." stated Ronald Fricke. "Starting at Midnight on April 1st,
Grazy.com will begin offering iPads and more to those who join the herd on a
weekly basis. So mosey on in, invite some friends and kick back and have some
fun."
"We believe the addition of Grazy.com to our company will provide our
shareholders with the best possible value along with a tremendous growth
opportunity in an exciting growth oriented sector," stated Jason Griffith,
Amerigo Energy's Chief Executive Officer.
The company also filed a Form 8K related to its year end audited financial
statements indicating it would be writing down the non-performing oil and gas
assets. This write down further underlies the company's belief in diversifying
it's assets for the benefits of the shareholders.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of
1995 Statements in this press release relating to plans, strategies, economic
performance and trends, projections of results of specific activities or
investments, and other statements that are not descriptions of historical facts
may be forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. Forward- looking
information is inherently subject to risks and uncertainties, and actual
results could differ materially from those currently anticipated due to a
number of factors, which include, but are not limited to, risk factors inherent
in doing business. Forward-looking statements may be identified by terms such
as "may," "will," "should," "could," "expects," "plans," "intends,"
"anticipates," "believes," "estimates," "predicts," "forecasts," "potential,"
or "continue," or similar terms or the negative of these terms. Although we
believe that the expectations reflected in the forward-looking statements are
reasonable, we cannot guarantee future results, levels of activity, performance
or achievements. The company has no obligation to update these forward-looking
statements.
For more information please contact:
Jason Griffith
702-399-977
