Global Earth Energy Announces Shareholder to Contribute Capital to Add Value to the Company
(firmenpresse) - WILMINGTON, NC -- (Marketwire) -- 11/23/11 -- Global Earth Energy, Inc. (GLER) (OTCQB: GLER) (OTCBB: GLER) announced today that Mr. Spiros Sinnis has made a contribution of the capital stock of Global Earth Natural Resources Inc. common shares to Global Earth Energy, Inc. for the sole purpose of adding value to GLER's balance sheet. Mr. Sinnis did not and will not receive any compensation of value in exchange from GLER and will not receive any additional securities or other rights in the Company. The contribution by Mr. Sinnis will augment the 10,462,500 shares of the common stock of Global Earth Natural Resources Inc. already owned by GLER.
Mr. Sinnis is a stockholder in both Global Earth Natural Resources Inc. and Global Earth Energy, Inc., and has made the contribution, which was valued at approximately $675,000, based on today's exchange rate between the Dollar and the Euro, for the sole purpose of adding value to GLER. This increase in value in GLER shares will ultimately allow GLER to increase its leverage when negotiating future deals and acquisitions. The capital contribution by Mr. Sinnis comes in the form of 500,000 shares of the common stock of Global Earth Natural Resources Inc., a New Brunswick corporation. The shares of Global Earth Natural Resources Inc. are traded on the Deutsche Boerse in Frankfurt, Germany, under the symbol 2GN.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release may contain forward-looking information of Global Earth Energy, Inc. within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes," "expects," "anticipates" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to differ materially from those expressed or implied by such forward-looking statements. Certain risks are detailed in the company's Form 10-K and other periodic filings with the Securities Exchange Commission at . This news release speaks as of the date first set forth above and the company assumes no responsibility to update the information included herein for events occurring after the date hereof.
Global Earth Energy, Inc. provides renewable energy solutions for the ever increasing demand of world energy consumption. In addition, the company is pursuing joint venture partnerships with end-solutions providers.
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Datum: 23.11.2011 - 13:37 Uhr
Sprache: Deutsch
News-ID 90597
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WILMINGTON, NC
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Coal
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