MISSION VIEJO, Calif., Oct. 29, 2014 (GLOBE NEWSWIRE) -- FITT Highway Products, Inc. (the "Company") is pleased to announce that the Financial Industry Regulatory Authority ("FINRA") processed and approved the Company's name and symbol change request. Effective October 29, 2014, the Company changed its name from FITT Highway Products, Inc. to Global Future City Holding Inc. ("Global"). The Company will also begin trading under the new symbol, FTCY, on October 29, 2014.
The name change was accomplished through a merger with the Company's wholly-owned subsidiary, Global Future City Holding Inc., which is effective as of today, October 29, 2014. FITT Highway Products, Inc. is the surviving entity in the merger, but it will continue with the new name and ticker symbol. Only the Company's name was changed in the Articles of Incorporation.
Symbol Change
In connection with the name change, FINRA has assigned the Company a new symbol, "FTCY". The Company's new CUSIP number is: 37954L 101.
Purpose of Name Change
The Company is changing its business model and will focus its attention on digital currency in the coming months after the previously announced transaction (the "Purchase Agreement") with Sky Rover Holdings Ltd. ("Sky Rover") closes. Pursuant to the terms of the Purchase Agreement, the Company agreed to change its name when certain conditions were met. Because these initial conditions were met, the Company underwent and completed the name change process.
Information about Forward-Looking Statements
This release contains "forward-looking statements" that include information relating to future events and future financial and operating performance. The words "may," "would," "will," "expect," "estimate," "can," "believe," "potential" and similar expressions and variations thereof are intended to identify forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management's good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Important factors that could cause these differences include, but are not limited to: the Company not pursuing digital currency because certain closing conditions in the Purchase Agreement with Sky Rover does not occur; thus the transaction with Sky Rover would not close, fluctuations in demand for the digital currency, the introduction and impact of new competitive products or digital currency, the Company's ability to maintain customer and strategic business relationships, growth in targeted markets, and other information that may be detailed from time-to-time in the Company's filings with the United States Securities and Exchange Commission. For a more detailed description of the risk factors and uncertainties affecting the Company, please refer to the Company's recent Securities and Exchange Commission filings, which are available at www.sec.gov. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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