Also Announces that Funding has been Sourced for VT Hydrocarbon Holdings (Pte.) Ltd.
DUBAI, UAE / ACCESSWIRE / November 5, 2014 / Global Equity International, Inc. (OTCQB: GEQU) and its fully owned subsidiary, Global Equity Partners, Plc., a business consulting services firm to small and medium sized businesses worldwide, today announced it has signed an agreement with VT Hydrocarbon Holdings (Pte.) Ltd., to assist in the raising of 78,000,000 US Dollars in order to acquire an LPG (Liquid Petroleum Gas) storage tank facility in Jordan. GEQU agreed to a cash finder's fee which will be a percentage of the total amount to be raised and also an equity fee post funding. Global Equity International Inc. further announced that it has effectively sourced the $78 million and VT Hydrocarbon is in physical possession of a letter of "Proof of Funds" from the potential investors.
VT's ground operations are based in the Aqaba Special Economic Zone in Aqaba in the country of Jordan. VT will acquire, operate, manage and build hydrocarbon storage farms in Aqaba and expand to repeat the formula in other parts of the world. VT's main business focus is to provide Liquid Petroleum Gas storage as well as other wet fuel facilities. Operating in a politically neutral zone, VT expects to initially acquire an existing storage facility and repurpose it to specialize in wet fuel storage and LPG (Liquid Petroleum Gas) storage. The Company, VT Hydrocarbon Holdings, intends to directly respond to the 45% market deficit in LPG supply being suffered in the local region, which includes the neighboring countries of Jordan.
LPG (Liquid Petroleum Gas) demand is increasing yearly in the region for many reasons, mainly domestic consumption, feedstock for petrochemicals, and fuel for vessels. There is no effective storage for this demand. Storage is required to ensure steady supply, price stability and security. VT's aim will be to provide the largest and most state of the art LPG facility and logistics to support the region.
Peter Smith, CEO of Global Equity International Inc., said: "This is a fantastic opportunity due to the global shortage of storage for LPG tanks as well as VT's goal to be the primary energy storage provider in the region supplying support to other industry players such as Jordanian Petroleum Refineries, Total, and Manaseer Group. We believe VT will be a significant piece of the LPG landscape. The company is well suited to our particular market, contacts and interests, and we look forward to assisting in their growth plan during the next three years. Finally, the resulting the cash and equity fees will undoubtedly boost our Company´s financials."
About Global Equity International Inc.
Global Equity International Inc., through its wholly-owned subsidiary Global Equity Partners Plc., advises worldwide business leaders with their most critical decisions and opportunities pertaining to growth, capital needs, structure and the development of a global presence. With offices in Dubai and London, Global Equity has developed significant relationships in the US, UK, Central Europe, the Middle East and South East Asia to assist clients in realizing their full value and potential by bringing them to external capital and resources that place an emphasis on collaborative thinking. Furthermore, because Global Equity has offices in key financial centers of the world, they are able to introduce their clients to a unique opportunity of listing their shares on any one of the many stock exchanges worldwide. Global Equity Partners holds significant long-term equity positions in the companies that it represents.
Safe Harbor Statement
This press release may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements related to anticipated revenues, expenses, earnings, operating cash flows, the outlook for markets and the demand for products. Forward-looking statements are no guarantees of future performance and are inherently subject to uncertainties and other factors which could cause actual results to differ materially from the forward-looking statements. Such statements are based upon, among other things, assumptions made by, and information currently available to, management, including management's own knowledge and assessment of the Company's industry and competition. The Company refers interested persons to its most recent Annual Report on Form 10-K and its other SEC filings for a description of additional uncertainties and factors, which may affect forward-looking statements. The company assumes no duty to update its forward-looking statements.
CONTACT:
Mr. Peter J. Smith – CEO & director
Dubai Tel.: + 1 (971) 042767576
Email: [email protected]
Mr. Enzo Taddei - CFO & director
US Tel.: + 1 (321) 200 0142
Email: [email protected]
Website: www.gepartnersplc.com
Mr. James Janis – IR / Martin E. Janis & Company, Inc.
US Tel.: + 1 (312) 882-9535
Email: [email protected]
Website: www.janispr.com/
Ms. Beverly Jedynak – IR / Martin E. Janis & Company, Inc.
US Tel.: + 1 (312) 943-1123
Email: [email protected]
Website: www.janispr.com/
SOURCE: Global Equity International, Inc.