ALISO VIEJO, Calif., Feb. 10, 2005 (PRIMEZONE) -- - GTREX Capital, Inc. (OTCBB:GRXI) today announced that it has filed an election to become a Business Development Company pursuant to Section 54 of the Investment Company Act of 1940. An N-54A notification was filed with the Securities and Exchange Commission on January 25, 2005.
By operating as a Business Development Company (BDC), GTREX Capital expects to effectively c apitalize its existing subsidiary operations as well as target and potentially acquire additional revenue generating companies that are positioned for significant growth.
Christopher Berlandier, Chief Executive Officer of GTREX Capital, Inc., commented, "The Board of Directors has identified what we believe to be tremendous investment opportunities in various areas of the travel industry, including airline and cruise bookings, accommodations, and reservations. Our conversion to an investment company positions GTREX to assemble a portfolio of performing assets and expand our business interests for the benefit of our shareholders. GTREX Capital, Inc. intends to focus on investments in these areas where management has experience and concentrate on acquisitions calculated to increase portfolio value."
About GTREX Capital, Inc.
GTREX Capital, Inc. is a Business Development Company pursuant to the Investment Company Act of 1940 whose core focus is to assemble an investment portfolio of investments into businesses related to the travel industry, such as reservation systems and travel suppliers of airlines, cruise lines, hotels, and car rental companies, where management has significant experience and expertise.
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 Capital, Inc. undertakes no obligation to update any such statements to reflect actual events.