HOUSTON, TX--(Marketwired - Aug 29, 2014) - Global Clean Energy, Inc. (OTC PINK: GCEI) is updating its shareholders as to recent corporate events. The Company has signed an extension of its Letter of Intent to acquire a ferrous metal company in the Southeastern US and expects to close on the acquisition during the fourth quarter of this year. When the transaction is completed, GCE will be able to consolidate the revenue and profits of the acquisition company on its balance sheet.
Further, GCE filed a notification with the Securities and Exchange Commission to withdraw its Form 10 Registration. The Company has completed all its audits and will continue to audit its financial statements. GCE felt it was in the best interests of shareholders and the Company to refile after closing its pending acquisition.
In Canada, the company is in the midst of updating its profile on SEDAR. It is in constant communication with the Authorite des Marche Financiers, and anticipates that the cease trade order will be lifted shortly.
Lastly, Global Clean increased its authorized common shares to 750,000,000 to allow for future expansion, if necessary. The increase in authorized shares does not dilute the existing shareholders.
Global Clean Energy, Inc. is a waste-to-energy conversion solutions company, focusing on using available and developing technologies to convert waste into commercially viable energy, a process the company refers to as Reforming Environmental Salvage into Clean Usable Energy (R.E.S.C.U.E.). GCE is the industry's most diversified aggregator and system integrator bringing recovery and alternative energy solutions to the plastics, rubber, and platinum group metals industries.
Statements in this release may be regarded, in certain instances, as "forward-looking statements" pursuant to certain sections of the Securities Act 1933 and the Securities Exchange Act 1934, respectively. "Forward-looking statements" are based on expectations, estimates and projections at the time the statements are made, and involve risks and uncertainties, which could cause actual results or events to differ materially from those currently anticipated, including, but not limited to delays, difficulties, changed strategies, or unanticipated factors or circumstances affecting Global Clean Energy, Inc. and its business. There can be no assurance that such forward-looking statements will ever prove to be accurate and readers should not place undue reliance on any such forward-looking statements contained herein. Global Clean Energy Inc. will not republish revised forward-looking statements to reflect events or circumstances after the date hereof to reflect the occurrence of unanticipated events.