|By Marketwired .||
|August 6, 2013 09:15 AM EDT||
SARASOTA, FL -- (Marketwired) -- 08/06/13 -- Global Technologies Group, Inc. (PINKSHEETS: GTGP) -- James Fallacaro, President announced that GLOBAL has negotiated a sale of the company contingent upon shareholder approval and will move to close upon conclusion of the vote. The terms of the sale will be fully disclosed in the voting statement and the shares held by Ms. Fallacaro will abstain from voting as this will be a non-arm's length transaction.
Global Technologies Group, Inc. (GLOBAL) is a company that is in the business of acquiring exclusive licenses and distribution and reseller contracts on proven technologies in the environmental, green and war fighter industries. The criteria for the licensing or distribution agreements of the technologies are: they must be proven, validated and in use. The business plan of Global is to sublicense the technologies it acquires to companies in Countries covered under the original license grants and for its own use. For our exclusive distribution and reseller agreements, we partner with appropriate representatives in the covered countries for resale of turn key projects. Currently, J3 Advanced Engineering Technologies, Inc. is the exclusive marketing company for Global.