Oxford, MS 3/29/2011 (Penny PayDay) -- Amerigo Energy, Inc. (OTC:AGOE) today announced, in a press release, 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. As I write, shares of Amerigo Energy were up 5 percent at $0.44 per share on volume of 100,000 shares compared to its average daily volume of 172,000 shares. The company has a market cap of $10 million and a 52-week range between $0.25 and $0.49 per share.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 in the coupon marketing sector, in offering both traditional and online merchants an opportunity to connect with buyers in a unique way. Leveraging the social media revolution, members are given a chance to "Join the Herd" and "Graze where the grass is ALWAYS greener".
"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.
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