SOURCE: Global Senior Enterprises, Inc.
FORT WAYNE, IN--(Marketwired - Dec 20, 2013) - Global Senior Enterprises, Inc (OTC: GSET) announces today that it has entered into an definitive agreement with The World Financial Holdings Group Co., LTD and China Sunset Holdings Group Co., LTD (both located in Mainland China).
Global Senior Enterprises, Inc is a company based in the United States, however the focus and main goal of the company is to develop Senior Residential and Care Facilities for the elder population and tourism project of Mainland China. The majority Shareholder, SHANGHAI SHIHONG FINANCE MANAGEMENT COMPANY, located in Shanghai, China has recognized the enormous opportunity for a definitive and organized effort to address the growing demand in China.
The Parties of the agreement will share resources to combine the advantages of each to accomplish the common goal. China Sunset Holdings Group Co., LTD. is in control or has access to the control of several multifamily residential apartment complexes, hotels and convenience stores. Under the terms of the agreement, the properties will be appraised by professional and qualified agencies. Once the real value has been established the properties will be acquired by Global Senior Enterprises, Inc in exchange for its Common stock at $5.00 (USD) per share. Currently there have been properties in excess of $300,000,000 (RMB) identified by the company for acquisition.
Under further terms of the agreement Global Senior Enterprises, Inc will be afforded to house its China operations in the Corporate Headquarters of China Sunset Holdings Group Co., LTD for convenience and the optimal cooperation to benefit all Parties.
A full version of the agreement can be accessed on OTC Markets.
FORWARD LOOKING STATEMENT
This press release contains certain "forward‐looking" statements, as defined in the United States Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. Statements, which are not historical facts, are forward‐looking statements. The Company, through its management, makes forward‐looking public statements concerning it expected future operations, performance and other developments. Such forward‐looking statements are necessarily estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no factors that could cause actual results to differ materially from those estimated by the Company. They include, but are not limited to, the Company's ability to develop operations, the Company's ability to consummate and complete the acquisition, the Company's access to future capital, the successful integration of acquired companies, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition, sales and other factors that may be identified from time to time in the Company's public announcements.