NEWS: Global Earth Energy Inc. Receives Executed Coal Contract From WinsInternational Valued at $100 Million
Feb 28, 2011 08:15:34 (ET)
WILMINGTON, NC, Feb 28, 2011 (MARKETWIRE via COMTEX) -- Global Earth Energy, Inc. (otcqb:GLER) (pinksheets:GLER) announced today they have received a executed purchase order dated February 22, 2011 from Wins Intl., Ltd. for the purchase of $100,000,000.00 worth of coal. The order is for one million tons at a price of $100.00 per ton. The deal also calls for a possible extension for an additional two 3 year terms with a million tons deliverable per year. Per the contract delivery will begin via the following schedule: 20,000 tons by May 2011, 40,000 tons by June 2011, 60,000 tons by July 2011, and 95,000 tons every month following until contract expires. The delivery point will be the sellers mine as specified by the purchase contract.
The coal specifics are as follows MAF/BTU 12,000 min., with an ash content at 8% maximum, a 1% sulfur maximum and a FSI with a 7% minimum.
Sydney Harland President of Global earth said, "This contract will bring revenue to our bottom line almost immediately with first shipments to take place in May of 2011. We at GLER are very pleased to be associated with one of the largest buyers of coal in the world today. This, along with other joint ventures, is the very core of our business strategy in creating joint ventures that impact our bottom line."
Global Earth Energies welcomes any and all inquiries on our business ventures, via phone or email.
About Global Earth Energy Inc. Global Earth Energy Inc. provides renewable energy solutions. In addition, the Company is pursuing joint venture agreements with green solution providers worldwide.
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:
Sydney A. Harland
CEO
Global Earth Energy
Email Contact
910-270-7749
www.globalearthenergy.com
Spiros D. Sinnis
Chief Business Advisor
630-750-9095
skype: spiros.xs
Email Contact
www.xsholdings.com
Wins International Co., Ltd
3rd Floor, Seokbeom Building
636-1 Yeoksam-dong, Gangnam-gu
Seoul, South Korea
SOURCE: Global Earth Energy Inc.
