DUBAI, UNITED ARAB EMIRATES--(Marketwired - Jun 30, 2016) - Global Equity International, Inc. (OTCQB: GEQU) and its fully owned subsidiary, Global Equity Partners Plc., a global business consultancy firm with offices in Dubai and London that consults to a diverse number of companies around the world, are pleased to announce that our client, VT Hydrocarbon Holdings (Pte.) Ltd. ("VTH"), has finally agreed on terms with the seller of the land and facility in Aqaba (Jordan) allowing the financial aspect of the transaction to significantly move ahead. Negotiations over the land and facility have been ongoing for many months. This agreement is the spark that will ignite a string of subsequent actions and contracts leading ultimately to the closing of the deal.
VTH will build, operate and manage hydrocarbon storage facilities in the Aqaba Special Economic Zone (Jordan) and expand to repeat the formula in other parts of the world in due course. The Company's main business focus will be to provide Liquid Petroleum Gas (LPG) storage as well as other wet fuel facilities and intends to directly respond to the 45% market deficit in Liquid Petroleum Gas supply being suffered in the local region, which includes the neighboring countries of Jordan.
Demand for Liquid Petroleum Gas is increasing yearly in the region for many reasons, mainly domestic consumption, feedstock for petrochemicals, and fuel for vessels. There is no effective storage for this demand. Storage is required to ensure steady supply, price stability and security. VTH's aim will be to provide the largest and most state of the art LPG facility and logistics to support the region.
Peter Smith, CEO of Global Equity International Inc., said: "We have been waiting a long time to get to this point and finally matters are moving ahead at a rapid pace. Historically, key decisions within the deal have taken weeks and months to arrive at, hence the reason for the various delays that this deal has suffered. Now we are moving into new territory on a daily basis with all parties exactly on the same page heading for the same conclusion. This will be a transaction we will be delighted to put the finishing touches to in the very near term."
About Global Equity International Inc.
Global Equity International Inc., through its wholly-owned subsidiary Global Equity Partners Plc., advises worldwide business leaders with their most critical decisions and opportunities pertaining to growth, capital needs, structure and the development of a global presence. With offices in Dubai and London, Global Equity has developed significant relationships in the US, UK, Central Europe, the Middle East and South East Asia to assist clients in realizing their full value and potential by bringing them to external capital and resources that place an emphasis on collaborative thinking. Furthermore, because Global Equity has offices in key financial centers of the world, they are able to introduce their clients to a unique opportunity of listing their shares on any one of the many stock exchanges worldwide. Global Equity Partners holds long-term equity positions in many of the companies that it represents.
Safe Harbor Statement
This press release may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements related to anticipated revenues, expenses, earnings, operating cash flows, the outlook for markets and the demand for products. Forward-looking statements are no guarantees of future performance and are inherently subject to uncertainties and other factors which could cause actual results to differ materially from the forward-looking statements. Such statements are based upon, among other things, assumptions made by, and information currently available to, management, including management's own knowledge and assessment of the Company's industry and competition. The Company refers interested persons to its most recent Annual Report on Form 10-K and its other SEC filings for a description of additional uncertainties and factors, which may affect forward-looking statements. The company assumes no duty to update its forward-looking statements.