Global Environmental Energy Corp. -- OTCBB:GEEC -- Forms Sahara Petroleum Exportation Corp. and Agrees to Pay Dividend to Global Shareholders
December 17, 2004 10:52:00 AM ET
Global Environmental Energy Corp. GEEC (FWB:LFT) has caused as of December 16, 2004, the formation of a wholly-owned subsidiary, Sahara Petroleum Exploration Corp., located in New Providence in the Commonwealth of Bahamas.
Global Environmental Energy Corp. intends to issue the stock dividend as of the record date "ONLY" to shareholders that own not less than 100 shares of Global Environmental Energy Corp.; 3 new shares of Sahara Petroleum Exploration Corp. will be issued for each 100 shares of Global Environmental Energy Corp. owned on the record date. By way of example, the owner of 100 shares of Global Environmental Energy Corp. will receive 3 shares of Sahara Petroleum Exploration Corp. as a dividend; the owner of 199 shares of Global Environmental Energy Corp. will receive 3 shares of Biosphere Development Corp. as a dividend.
The record date will be January 15, 2004, with delivery on or about January 30, 2005. In order to receive the stock dividend, a stockholder of record on the record date must continue to hold GEEC stock through the dividend payment date of January 30, 2005.
As GLOBAL continues to expand, the value of the Company's assets will be developed more efficiently through operating subsidiary companies. Sahara was formed to maximize the Company's potential as a fully integrated energy company, but especially to develop the Company's potential in Libya and Algeria.
As part of this overall strategy, GLOBAL intends to cause Sahara to become a fully reporting trading company in its own right, and will be filing all required paper work with the SEC and NASD.
About Global Environmental Energy Corp.
Global Environmental Energy Corp. intends to become a fully integrated energy company whose interests will include traditional oil and gas and alternative energy sources, environmental infrastructure and electrical micro-power generation. Global Environmental Energy Corp.'s unique proprietary technology, EcoTechnology(TM), supplies energy through an efficient and environmentally safe process. The Biosphere Process(TM) System, a central part of the EcoTechnology(TM) system, can safely and efficiently processes traditional and non-traditional waste materials into electricity and other beneficial by-products. The Biosphere Process(TM) can assist in solving the global waste problem by converting into clean, green electricity such waste materials as: municipal solid waste (MSW), agricultural surpluses, agricultural effluents, forestry wastes, sewage sludge, medical waste, industrial wastes, flared natural gas, shale oil, sour natural gas, high sulfur oils, waste bilge oil, waste drilling muds and fluids, and many other traditional and non-traditional waste materials.
Note to Investors
This press release contains forward-looking information within the meaning of Section 27A of the Securities Act of the 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the safe harbor created by those sections. The forward-looking information is based upon current information and expectations regarding Global Environmental Energy Corp. These estimates and statements speak only as of the date on which they are made, are not guarantees of future performance, and involve certain risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results could materially differ from what is expressed, implied, or forecasted in such forward-looking statements.
Global Environmental Energy Corp. assumes no obligation to update the information contained in this press release. Global Environmental Energy Corp.'s future results may be impacted by risks associated with rapid technological change, new technological developments and implementations, execution issues associated with new technology, manufacturing production to meet demand, litigation, media publicity and the negative impact this could have on sales, competition, financial and budgetary constraints of prospects and customers, international order delays, dependence upon limited source suppliers, fluctuations in component pricing, government regulations, dependence upon key employees, and its ability to retain employees. GEEC's future results may also be impacted by other risk factors listed from time to time in its SEC filings, including, but not limited to, the Company's Form 10-QSBs and its Annual Report on Form 10-KSB.
Contact Information: Global Environmental Energy Corp. Dr. C. A. McCormack, 877-723-6315 www.globalenvironmnetnalenergy.com
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