GTGP Global Technologies Group Inc (CE)

Global Technologies Group, Inc. (Pink Sheets:GTGP), Global, in accordance with our press release of Nov 18, 2010, announces that at the scheduled meetings of their company’s board, which were held in late January, to discuss our proposed acquisition of their company by Global and review this proposed sale as well as the due diligence requirements for the sale have been approved. Both companies have agreed to begin exchanging all required due diligence to assess the underlying purchase price including pro forma financial statements, appraisals and pending long term contracts. The exchange of the full due diligence required begins today. Global will continue to provide updates as and when they happen.

UPDATE

We are currently awaiting final test results from MSE Technology Applications Inc. regarding the MBS/M2 Polymer combination of chemical and polymer technologies for remediation use.

Global has also formed a wholly owned subsidiary Global Technology Holdings, Inc.

To date, the company has purchased the exclusive rights to the MBS technology and process for remediating soils containing heavy metals and rendering them non leachable instantly. It was tested by EPA and Brook Haven National labs and met all requirements for use. The exclusive license granted is for North America, South and Central America, Canada and Russia. We have also concluded agreements for the exclusive distribution and reseller rights for all technologies developed by MSE Technology Associates and M2 Polymer. We are currently pursuing business opportunities throughout our covered countries in all fields, technology and remediation. The countries are the entire European Union, Russia, Canada and the Middle East.

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 business plan of Global is to sublicense the technologies it acquires to companies in countries covered under the original license grants. For our exclusive distribution and reseller agreements, we partner with appropriate representatives in the covered countries for resale of turn key projects. Global will also seek to make acquisitions when we feel it would expand and enhance our business and shareholder value.

Global Technologies (CE) (USOTC:GTGP)
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