DUBAI, UNITED ARAB EMIRATES-- June 30, 2016 --
Global Equity International, Inc. (OTCQB: GEQU) and its fully owned
subsidiary, Global Equity Partners Plc., a
global business consultancy firm with offices in Dubai and London
that consults to a diverse number of companies around the world,
are pleased to announce that our client, VT
Hydrocarbon Holdings (Pte.) Ltd. ("VTH"), has finally
agreed on terms with the seller of the land and facility in Aqaba
(Jordan) allowing the financial aspect of the transaction to
significantly move ahead. Negotiations over the land and facility
have been ongoing for many months. This agreement is the spark that
will ignite a string of subsequent actions and contracts leading
ultimately to the closing of the deal.
VTH will build, operate and manage hydrocarbon storage
facilities in the Aqaba Special Economic Zone (Jordan) and expand
to repeat the formula in other parts of the world in due course.
The Company's main business focus will be to provide Liquid
Petroleum Gas (LPG) storage as well as other wet fuel facilities
and intends to directly respond to the 45% market deficit in Liquid
Petroleum Gas supply being suffered in the local region, which
includes the neighboring countries of Jordan.
Demand for Liquid Petroleum Gas is increasing yearly in the
region for many reasons, mainly domestic consumption, feedstock for
petrochemicals, and fuel for vessels. There is no effective storage
for this demand. Storage is required to ensure steady supply, price
stability and security. VTH's aim will be to provide the largest
and most state of the art LPG facility and logistics to support the
region.
Peter Smith, CEO of Global Equity International
Inc., said: "We have been waiting a long time to
get to this point and finally matters are moving ahead at a rapid
pace. Historically, key decisions within the deal have taken weeks
and months to arrive at, hence the reason for the various delays
that this deal has suffered. Now we are moving into new territory
on a daily basis with all parties exactly on the same page heading
for the same conclusion. This will be a transaction we will be
delighted to put the finishing touches to in the very near
term."
About Global Equity International Inc.
Global Equity International Inc., through its wholly-owned
subsidiary Global Equity Partners Plc., advises worldwide business
leaders with their most critical decisions and opportunities
pertaining to growth, capital needs, structure and the development
of a global presence. With offices in Dubai and London, Global
Equity has developed significant relationships in the US, UK,
Central Europe, the Middle East and South East Asia to assist
clients in realizing their full value and potential by bringing
them to external capital and resources that place an emphasis on
collaborative thinking. Furthermore, because Global Equity has
offices in key financial centers of the world, they are able to
introduce their clients to a unique opportunity of listing their
shares on any one of the many stock exchanges worldwide. Global
Equity Partners holds long-term equity positions in many of the
companies that it represents.
Safe Harbor Statement
This press release may include forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995, including statements related to anticipated revenues,
expenses, earnings, operating cash flows, the outlook for markets
and the demand for products. Forward-looking statements are no
guarantees of future performance and are inherently subject to
uncertainties and other factors which could cause actual results to
differ materially from the forward-looking statements. Such
statements are based upon, among other things, assumptions made by,
and information currently available to, management, including
management's own knowledge and assessment of the Company's industry
and competition. The Company refers interested persons to its most
recent Annual Report on Form 10-K and its other SEC filings for a
description of additional uncertainties and factors, which may
affect forward-looking statements. The company assumes no duty to
update its forward-looking statements.