SOURCE: Globaltech Holdings, Inc.

July 08, 2013 07:29 ET

Globaltech Holdings, Inc. Extends Marketing and Acquisition Plan to Take Advantage of "Affordable Care Act" Legislation

THOMASVILLE, GA--(Marketwired - Jul 8, 2013) -  Globaltech Holdings, Inc. (PINKSHEETS: GLBH) reported today that it is focusing its marketing efforts to take advantage of the new "Affordable Care Act" Legislation commonly known as Obamacare. Board members recently attended a training seminar on the upcoming national healthcare laws to be enacted as of October 1st of this year. The training was informative and shed light on some additional revenue opportunities for Globaltech Holdings.

Chairman and CEO Ormand Hunter stated, "While there are still questions that need clarification surrounding the Affordable Care Act, the information we learned was very positive. Law makers have made a good faith effort to insure that millions of Americans that do not currently have health care coverage will in fact be covered under the new act. With an estimated 65 million Americans being un-insured related to health care¸ GLBH sees this opportunity as a huge potential revenue generation stream for the company." Hunter further stated, "We have extended our marketing and acquisition plan to insure GLBH is positioned to take full advantage of the potential revenue created by this legislation thereby increasing shareholder value."

With the new market created by the Affordable Care Act, GLBH will focus its acquisition strategy and creation of new agency offices in the highly profitable Life and Health care insurance markets.

According to experts, the effects of this legislation upon the stock market are likely to be positive. Insurance companies are likely to continue the positive appreciation of their stock. There will be tens of millions more insurance customers paying into the system and the insurance providers will be allowed to raise premiums across the board to cover enrollees that were previously un-insurable.

About Global Agency Holdings, Inc.:

Global Agency Holdings, Inc. (PINKSHEETS: GLBH) is a progressive insurance brokerage firm that provides turnkey solutions to protect their client's financial interests. The Company's comprehensive approach includes personal and business insurance programs from personal auto, home, health, life, as well as commercial auto, general liability, workers compensation and group/life to meet all of their client's insurance needs.

Global Agency Holdings, Inc. remains focused on continued expansion through acquisitions of insurance agencies in the Southeast section of the United States.

For more information on Global Agency Holdings, Inc. please visit or contact Investor Relations at (973) 351-3868.

Safe Harbor Statement:

Statements about the Company's future expectations and all other statements in this press release other than historical facts, are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such forward-looking statements be subject to the safe harbors created thereby.

The above information contains information relating to the Company that is based on the beliefs of the Company and/or its management, as well as assumptions made by any information currently available to the Company or its management. When used in this document, the words "anticipate," "estimate," "expect," "intend," "plans," "projects," and similar expressions, as they relate to the Company or its management, are intended to identify forward-looking statements. Such statements reflect the current view of the Company regarding future events and are subject to certain risks, uncertainties and assumptions, including the risks and uncertainties noted. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove to be incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected, intended or projected. In each instance, forward-looking information should be considered in light of the accompanying meaningful cautionary statements herein. Factors that could cause results to differ include, but are not limited to, successful performance of internal plans, the impact of competitive services and pricing and general economic risks and uncertainties.

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