DUBAI, UNITED ARAB EMIRATES--(Marketwired - Sep 8, 2016) - Global Equity International, Inc. (OTCQB: GEQU) and its fully-owned subsidiary Global Equity Partners Plc. ("GEP" - www.gepartnersplc.com), a specialist consultancy firm with offices located in Dubai and London, are pleased to announce that GEP have diligently negotiated a term sheet amounting to US$301,500,000 for its client Majestic Wealth Limited.
Majestic Wealth has secured a luxury resort development project in Cyprus. The project benefits from approved planning permits and licensing; construction is already underway, and consists of three hundred luxury villas, a five star luxury hotel and amenities. Additionally, Majestic Wealth has secured an additional beach resort, again with planning and construction underway, for a five star four hundred suite luxury hotel in Paphos, a coastal resort and town on the Island of Cyprus in the Eastern Mediterranean.
Recently, the board of directors of GEP travelled to Budapest (Hungary) to meet with the Company's Eastern European partners, the Billbarter Group (http://billbartergroup.com/), and also the parties representing the investment group that have ultimately issued our client, Majestic Wealth, with the signed US$301,500,000 term sheet.
Prior to travelling, the CEO of Majestic Wealth granted GEP with a full Power of Attorney to negotiate the terms of the funding. During this business trip, management of GE Partners formally agreed the process and terms of the funding that resulted in the execution of a formal term sheet to fund all of Majestic Wealth's property development projects in Cyprus.
Peter Smith, CEO of Global Equity International Inc., said, "We travelled to meet our partners in Budapest this week and also to meet the investment group interested in financing this particular project, which is a tremendous development that will become iconic, without doubt, in the Cypriot property market. Majestic Wealth is one of our funding deals that has gone through the process relatively quickly with a suitable investment group sourced and driven to a term sheet, with more than fair terms, in an extremely short space of time. This is another milestone for our Company with a 3% cash commission contractually agreed and the possibility to do further similar funding deals under the same terms with our client in Cyprus and others that are looking to engage our services."
Enzo Taddei, CFO of Global Equity International Inc., said, "This is now our third transaction to enter into final closing stages this summer, we always knew that the day would come when our funding and other mandates would start to move rapidly in this direction. It has taken us a little longer than expected but it is a very good feeling now we are working these companies through to the final stages of the process of our contractual mandates. Also, the significant agreed cash commission on the Majestic Wealth funding deal will be an excellent springboard for our Company and its future growth plans."
About Global Equity International Inc.
Global Equity International Inc., through its wholly-owned subsidiaries Global Equity Partners Plc. and GEP Equity Holdings limited, 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 and Eastern 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 centres 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 International Inc., through its wholly-owned subsidiary Global Equity Partners Plc. and GEP Equity Holdings Limited, holds significant long-term equity positions in many of the companies that it represents.
Safe Harbour 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.