Global General Technologies Inc. (GLGT) Prepares for China Merger: SPC Belize to Be Created
December 21 2010 - 3:45PM
Marketwired
Global General Technologies Inc. (PINK SHEETS: GLGT)
www.glgt-corporate.com in an attempt to accommodate and formulate
the merger with the Chinese based company, a Special Purpose
Corporation is required in accordance with China laws.
The reason for this SPC company is to allow a vend in or a
merger with China based entity. GLGT merger candidate ZhiHua
Co-Channel Hi-Tech Co., Ltd. is a China based business and under
Chinese law, a Special Purpose Corporation (SPC) is required to
facilitate a merger with any USA/foreign based issuer. The newly
created SPC company called 'GLGT China Merger Inc.' will serve GLGT
to merge with this China based solar panel producer.
This is one of several required steps needed before the final
merger announcement and merger can be completed.
More details on all merger developments will follow shortly.
Safe Harbor Statement
Information in this news release may contain statements about
future expectations, plans, prospects or performance of Global
General Technologies Inc. that constitute forward-looking
statements for purposes of the safe harbor provisions under the
Private Securities Litigation Reform Act of 1995. The words or
phrases "can be," "expects," "may affect," "believed," "estimate,"
"project," and similar words and phrases are intended to identify
such forward-looking statements. Global General Technologies Inc.
cautions you that any forward-looking information provided by or on
behalf of Global General Technologies Inc. is not a guarantee of
future performance. None of the information in this press release
constitutes or is intended as an offer to sell securities or
investment advice of any kind. Global General Technologies Inc.'s
actual results may differ materially from those anticipated in such
forward-looking statements as a result of various important
factors, some of which are beyond Global General Technologies
Inc.'s control. In addition to those discussed in Global General
Technologies Inc.'s press releases, public filings, and statements
by Global General Technologies Inc.'s management, including, but
not limited to, Global General Technologies Inc.'s estimate of the
sufficiency of its existing capital resources, Global General
Technologies Inc.'s ability to raise additional capital to fund
future operations, Global General Technologies Inc.'s ability to
repay its existing indebtedness, the uncertainties involved in
estimating market opportunities and, in identifying contracts which
match Global General Technologies Inc.'s capability to be awarded
contracts. All such forward-looking statements are current only as
of the date on which such statements were made. Global General
Technologies Inc. does not undertake any obligation to publicly
update any forward-looking statement to reflect events or
circumstances after the date on which any such statement is made or
to reflect the occurrence of unanticipated events.
Contacts: Investor Relations 1-647-426-1640
www.minamargroup.net/helpdesk Investor Relations Department Inquiry
www.minamargroup.net (IR) For (M&A) and Corporate Matters
www.minamargroup.com