Global 8 Environmental Technologies Inc.(fka GBLE)

[PSU90]

Green Scene: Global 8, FINCO To Build Environmental Technology Centers




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Mon Jun 09 14:14:39 2008 EDT
(financialwire.net via COMTEX News Network) --
June 9, 2008 (FinancialWire) Global 8 Environmental Technologies Inc. (OTCBB:
GBLE) (Current Market Cap. US$27.43 Mil.) signed an exclusive agreement to build
and operate environmental technology centers with Financial Investment Consultancy
SAL.
FINCO is a Lebanon based asset management company that acquired the license
to develop environmental technology centers, which create environmentally sustainable
solutions allowing communities and their industries to grow without any environmental
constraints.
Under the terms of the agreement, Global 8 Environmental Technologies, Inc.
will own an exclusive and worldwide license for building and operating environmental
technology centers and technologies used in each of these centers. The proprietary
technology assets, which have been assigned under this agreement include know how,
engineering drawings, and specifications and operating and procedures manuals for
fully-operational environmental technology centers for the processing and recycling
of solid wastes, air pollution mitigation and greenhouse gas reduction, water and
wastewater treatment, and generation of energy from renewable sources. This exclusive
license includes all processes, inventions, and improvements that FINCO now owns
and controls as well as those which FINCO may develop or acquire in the future.
In addition to intellectual property, FINCO will also provide debt financing
for the design, construction, and start-up costs related to the environmental technology
centers to be built and operated by the Global 8 family of companies. This financing
will be arranged in $50 million tranches up to $250 million. This limit will be
further extended subject to agreement by both parties.
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