Global Earth Energy, Inc. Acquires RCI Solar Inc.
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Wilmington, NC --(www.USEquityNews.com)-- 05/12/2010 - Global Earth Energy, Inc. (OTCBB: GLER) announced today that it has closed on its acquisition of RCI Solar Inc., a North American provider of renewable energy products and services. Global Earth will operate the business of RCI Solar Inc. from its facility located in Vancouver, British Columbia, Canada.
As a result of the merger, stockholders of RCI Solar Inc. own approximately 67% of the issued and outstanding shares of the Global Earth common stock, with the remaining 33% owned by the current Global Earth stockholders. Due to the voting rights contained in the outstanding shares of the Global Earth's preferred stock, ownership in Global Earth remains unchanged.
RCI Solar provides renewable energy products and services to residential and commercial markets in North America. The Company sells complete turnkey renewable energy solutions based on three core products: Solar Domestic Hot Water, Solar Photo Voltaic (PV) Panels and AQUA III Heating & Cooling System. Along with these products, RCI Solar supplies a wide variety of fan convectors, solar storage tanks, controls, inverters, and ancillaries.
For additional detailed information on the transaction, please go to the 8-K filing at http://www.sec.gov/Archives/edgar/data/1121901/000109181810000170/gler0509108k.htm
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release may contain forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes," "expects," "anticipates" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from those expressed or implied by such forward-looking statements. Certain risks are detailed in the Company's Form 10-K and other periodic filings with the Securities Exchange Commission at www.sec.gov. This news release speaks as of the date first set forth above and the Company assumes no responsibility to update the information included herein for events occurring after the date hereof.Contact Information:
Contact:
Sid Harland
CEO
Global Earth Energy
Tel: 910-270-7749
See also: www.globalearthenergy.com
U.S. Equity News
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