Global Entertainment Holdings Announces New Developments In Growth Strategy
LOS ANGELES, CA, January 18, 2023 -- Global Entertainment Holdings, Inc. (OTC: GBHL) (the
"Company" or "Global"), an independent global entertainment content production and OTT streaming
distribution company has announced that the Company together with certain of its shareholders have
completed a Securities Purchase Agreement (the “Transaction”) relating to the sale of a majority of the
Company’s Series C Preferred Shares, which results in a change in the voting control of Global.
This Transaction will enable the Company to begin the process of acquiring, in a cashless exchange of
stock, a successful California-based company engaged in the manufacture, sale and installation of home
improvement products. As previously disclosed in its OTC Market filings, the Company has been pursuing
acquisitions for a Consumer Brands division that exhibit excellent potential for organic growth.
Additionally, the Company has authorized an increase in the Company’s authorized common stock to
approximately 15.95 billion to be used as a “currency” to fuel its acquisition strategy, a portion of which
such restricted shares will be used to facilitate the acquisition of the aforementioned California-based
company. Both the targeted operating company and Global have retained PCOAB registered audit firms to
conduct audits of both respective companies in anticipation of Global returning to SEC reporting status.
Gary Rasmussen, CEO of the Company commented, "The acquisition of this consumer products company
through the issuance of our common stock fulfills our previously announced plan to purchase a well
established and profitable business as a means of both diversifying our operations, as well as providing a
strategic advancement of our overall groth strategy to develop long-term value for our shareholders. Further
details regarding this transaction will be announced on a timely basis as they occur
