|By PR Newswire||
|December 17, 2013 10:00 AM EST||
OTTAWA, Dec. 17, 2013 /PRNewswire/ - Global Biotech Corp. (Aka-Purthanol Resources Ltd.) (OTCQB-GBIQ-the "Company") is pleased to announce the acquisition of Biocardel Quebec in a stock and cash transaction valued at $5 million Cad. Biocardel is a bio-fuel producer with its initial sales expected in Q1 of 2014. Mr. Rene Delarue, president of Biocardel, expressed his satisfaction with the merging of his company and Global/Purthanol, a corporation already invested in the alternative fuel sector and the symbiotic value this will bring to both companies. A similar sentiment was shared by Mr. Louis Pharand, President of Global/Purthanol, regarding the acquisition. Further news, when it occurs, will be posted on our new website www.purthanol.com
About Global Biotech Corp/Purthanol Resources
Global/Purthanol is a publicly traded company dedicated to investigating and developing natural products. It has recently changed its orientation to focus on green-technology fuel production with its acquisition of the Purthanol process for the ethanol product, Athanol, and now Biocardel. Please visit www.purthanol.com for more information.
Biocardel Quebec is a newly designed facility capable of producing upwards of 13 million gallons of (ASTM Certified) biodiesel and 2.6 million gallons of glycerol (BTU) Certified) heating fuel per year. Please visit www.biocardel.ca
Other than statements of historical fact, included herein, all statements are forward-looking and involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results may differ materially from Global's expectations and filings made with the securities regulators. The Company does not assume any obligation to update or revise its forward-looking statements. No stock exchange, securities commission or other regulatory authority has approved or disapproved this information.
SOURCE Global Biotech Corp