SOURCE: Global Earth Energy, Inc.

May 11, 2011 08:30 ET

Global Earth Energy and LB Tim Sign Extension for Sale of $100MM Preferred Share Offering

WILMINGTON, NC--(Marketwire - May 11, 2011) - Global Earth Energy, Inc. (OTCQB: GLER) announced today it has signed a contract extension with LB Tim Co., Ltd of South Korea for the sale of $100,000,000.00 of preferred class A GLER shares, at the request of LB Tim. The investment will generate the acquisition of $240,000,000.00 in life insurance portfolios that will be coordinated through the GLER/LifeCycle joint venture, with the remainder of the funds being used for the Reflora joint venture and other suitable future investments.

The fact that the shares are backed by revenue producing Life Settlement contracts, and are all issued by A and better rated insurance companies, all US based, and the fact that no single A rated insurance company has ever failed, led LB Tim to sign an extension. GLER expects the deal to close very shortly. The extension is until June 25, 2011.

Life settlement backed securities are in demand among large private investors, institutional buyers, globally. "The fact that $1.25 Billion in Life settlement securities were sold to sovereign funds last year, gives our investors great confidence in the model," stated Andrew Madenberg, president and CEO of LifeCycle Investments.

About LB TIM

A global financial consulting firm that combines skillsets and experience unparalleled in the primary markets we serve with rigorous research and analysis, LB Tim provides merger and acquisition, and strategic capital consulting services. LB Tim assists companies in obtaining financing through institutional placements of debt, mezzanine capital and equity. LB Tim assists businesses in financial difficulty or operating under the protection of a bankruptcy court.

LB Tim has strategic relationships with investment banking, corporate restructuring and crisis management firms enabling us, where needed, to deliver comprehensive solutions to our clients. LB Tim has potential to arrange more than a billion dollars in various types of finance for the prospective projects. The firm's clients have included the major corporations in Korea including major real estate companies, major hotels, major IT companies, major department stores and etc.

LB Tim's personnel and associates have been involved in the major M&As for major real estate companies, major hotels, major IT companies, major department stores and etc. LB Tim has acted as third-party consultants for shipping banks and law firms engaged in corporate restructuring and M&A activity. Due Diligence has included expert witness work, maritime project risk assessment, corporate appraisals, technical surveys of assets and valuations.

LB Tim has significant experience in financing for M&A and the prospective projects and brings an unparalleled range of skill sets to various areas.

About Global Earth Energy, Inc.

Global Earth Energy, Inc. provides renewable energy solutions. In addition, the Company is pursuing joint venture agreements with green solution providers worldwide.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release may contain forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes," "expects," "anticipates" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from those expressed or implied by such forward-looking statements. Certain risks are detailed in the Company's Form 10-K and other periodic filings with the Securities Exchange Commission at www.sec.gov. This news release speaks as of the date first set forth above and the Company assumes no responsibility to update the information included herein for events occurring after the date hereof.

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