DUBAI, UNITED ARAB EMIRATES--(NewMediaWire - Sep 8, 2016)
- Global Equity International,
Inc. (OTCQB: GEQU) and its fully-owned
subsidiary Global Equity Partners
Plc. ("GEP" - www.gepartnersplc.com), a specialist
consultancy firm with offices located in Dubai and London, are
pleased to announce that GEP have diligently negotiated a term
sheet amounting to US$301,500,000 for its
client Majestic Wealth Limited.
Majestic Wealth has secured a luxury resort development project
in Cyprus. The project benefits from approved planning permits and
licensing; construction is already underway, and consists of three
hundred luxury villas, a five star luxury hotel and amenities.
Additionally, Majestic Wealth has secured an additional beach
resort, again with planning and construction underway, for a five
star four hundred suite luxury hotel in Paphos, a coastal resort
and town on the Island of Cyprus in the Eastern Mediterranean.
Recently, the board of directors of GEP travelled to Budapest
(Hungary) to meet with the Company's Eastern European partners, the
Billbarter Group (http://billbartergroup.com/), and also the
parties representing the investment group that have ultimately
issued our client, Majestic Wealth, with the signed US$301,500,000
term sheet.
Prior to travelling, the CEO of Majestic Wealth granted GEP with
a full Power of Attorney to negotiate the terms of the funding.
During this business trip, management of GE Partners formally
agreed the process and terms of the funding that resulted in the
execution of a formal term sheet to fund all of Majestic Wealth's
property development projects in Cyprus.
Peter Smith, CEO of Global Equity International Inc.,
said, "We travelled to meet our partners in
Budapest this week and also to meet the investment group interested
in financing this particular project, which is a tremendous
development that will become iconic, without doubt, in the
Cypriot property market. Majestic Wealth is one of our funding
deals that has gone through the process relatively quickly with a
suitable investment group sourced and driven to a term sheet, with
more than fair terms, in an extremely short space of time. This is
another milestone for our Company with a 3% cash commission
contractually agreed and the possibility to do further similar
funding deals under the same terms with our client in Cyprus and
others that are looking to engage our services."
Enzo Taddei, CFO of Global Equity International Inc.,
said, "This is now our third transaction to enter into
final closing stages this summer, we always knew that the day would
come when our funding and other mandates would start to move
rapidly in this direction. It has taken us a little longer than
expected but it is a very good feeling now we are working these
companies through to the final stages of the process of our
contractual mandates. Also, the significant agreed cash commission
on the Majestic Wealth funding deal will be an excellent
springboard for our Company and its future growth plans."
About Global Equity International Inc.
Global Equity International Inc., through its wholly-owned
subsidiaries Global Equity Partners Plc. and GEP Equity Holdings
limited, 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 and Eastern
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 centres 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 International Inc., through its wholly-owned subsidiary
Global Equity Partners Plc. and GEP Equity Holdings Limited, holds
significant long-term equity positions in many of the companies
that it represents.
Safe Harbour 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.