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Global Technologies Group, Inc. in Negotiations to Acquire a Nationally Known Company Encompassing a Premier Testing Facility S

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^{Published in Science and Technology on Thursday, November 18th 2010 at 6:06 GMT by Market Wire}  

SARASOTA, Fla.--([ BUSINESS WIRE ])--Global Technologies Group, Inc. (Pink Sheets: GTGP) has been in ongoing discussions for the acquisition of a company known for its research, development and deployment of commercial projects in waste treatment, environmental remediation, advanced materials, energy conservation, and other innovative technology areas. The companya™s processes for technology development include bench-scale apparatus, engineering-scale demonstrations and full-scale equipment development. Global has been informed that a meeting of the companya™s board will be held in January to review this pending transaction as well as the due diligence requirements for a proposed sale. Global, in preparation for this transaction, has brought in a large, well known Investment banking firm to be Globala™s financial advisors and, if it meets their criteria, fund the acquisition. Global intends to incorporate the company as a wholly owned subsidiary. The name of the company and the investment banking firm have not been disclosed as there are NDA agreements in place. The unnamed companya™s revenue is in excess of 20 million dollars annually.

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. For our exclusive distribution and reseller agreements, we partner with appropriate representatives in the covered countries for resale of turn-key projects.