ALISO VIEJO, Calif., Feb. 8, 2005 (PRIMEZONE) -- GTREX, Inc. (OTCBB:GRXI) today announced that at a special meeting held on February 5, 2005, shareholders representing a majority of voting stock approved several amendments the Company's Articles of Incorporation including an amendment changing its name to GTREX Capital, Inc. The changes were undertaken to allow the Company to broaden its business strategy and seek to participate in additional high-growth opportunities in travel and related industries.
At the meeting, shareholders approved a change in the company's name to GTREX Capital, Inc., which the Board of Directors believes is a more appropriate reflection of the intended business operations of the Company. Other amendments that were approved at this meeting included the authorization of 5,030,000,000 shares of capital stock of the Company and authorization for the Company's Board of Directors, without the consent of the stockholders of the corporation, to adopt any re-capitalization affecting the outstanding shares of capital stock of the corporation, provided that the re-capitalization does not affect the ratio of unissued to authorized capital stock of that class. Further details on the proposed amendments are included in a Definitive 14-C filed with the Securities and Exchange Commission on January 6, 2005.
Christopher Berlandier, Chief Executive Officer of GTREX Capital, Inc., commented, "We are pleased that these amendments have been approved by our shareholders, as these measures are considered paramount in allowing the company to take advantage of certain market conditions and specific opportunities that our Board has identified. The Company looks forward to articulating this strategy in the coming weeks and alerting both our shareholders and the public markets to the true potential of GTREX."
About GTREX
GTREX is an alternative Global Distribution System (GDS) enabling direct access to reservation systems of major travel suppliers -- airlines, cruise lines, hotels, car rental companies and providers of other travel amenities. GTREX searches for the availability and price for the itinerary suggested by the buyer over all direct connected suppliers and GDSs and presents the results in an easy to understand format. Besides improved brand and revenue management, suppliers save distribution costs while providing efficient service to major customers through a direct connection. GTREX intends to market its services through travel distribution partners, contributing to the expansion of the Company's marketing channels and expedite revenue growth.
Any statements contained herein related to future events are forward-looking statements and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on forward-looking statements. GTREX, Inc. undertakes no obligation to update any such statements to reflect actual events.