SOURCE: Global Technologies Group Inc.

Global Technologies Group Inc.

August 13, 2012 09:19 ET

Global Technologies Group Inc. Updates Status of Purchase Contract for MSE, Inc.

SARASOTA, FL--(Marketwire - Aug 13, 2012) -  Global Technologies Group, Inc. (PINKSHEETS: GTGP) and Global Technology Holdings, Inc.'s (GTHI) attorneys delivered a purchase contract to the attorneys of MERDI for the purchase of 100% of MSE Inc. ten days ago. We received a markup of the purchase contract with comments from the attorneys of MERDI on Friday and both companies' lawyers are working towards a final document for our signatures and closing.

"We are now in the final stages of this important acquisition for both Global and GTHI and look forward to an expeditious closing," stated James Fallacaro, President of Global Technologies Group, Inc. and Global Technology Holdings, Inc.

Website update: Our website has been down over the weekend due to a problem with the servers at our hosting site and they have informed us that they have been working on the problem and believe they will have that problem corrected today. The same servers also handle our emails as well and we are sorry any emails sent may have been bounced. In the interim, we can be reached at Fallacaro1@Verizon.net.

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 and for its own use. For our exclusive distribution and reseller agreements, we partner with appropriate representatives in the covered countries for resale of turn key projects. Our current licensors are MSE Technology Applications, Inc. M2Polymer Technologies Inc. and Solucorp Industries LTD.

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