GTGP News Global Technologies Group, Inc. Execut

GTGP News  Global Technologies Group, Inc. Executes Letter of Intent for Acquisition of 100% Equity of MSE, Inc.

2012-05-07 18:50 ET - News Release

SARASOTA, FL -- (Marketwire) -- 05/07/12

Global Technologies Group, Inc. (PINKSHEETS: GTGP) announces that execution of a Letter of Intent (L.O.I.) with the Montana Economic Revitalization and Development Institute, Inc. (MERDI) for the acquisition of 100% of the equity interest of MSE, Inc. and its subsidiaries MSE Technology Applications, Inc., MSE Infrastructure Services, Inc. and MSE Western Environmental Services & Technologies, Inc. (collectively referred to "MSE" or the "Companies"). The L.O.I. is the result of a review of the terms of the acquisition with the board of MERDI regarding this purchase and have led to the execution of the L.O.I. Our lawyers and accountants are creating a timetable for the exchange of documents in order to prepare the purchase contract. The closing date that was set in the L.O.I will be on or before August 15, 2012. Global Technology Holdings, Inc. is the purchaser.

The centerpiece of this acquisition is the 52 acre Mike Mansfield Advanced Technology Center, a former Department of Energy facility which houses all of MSE, Inc. subsidiaries and includes labs, engineering, research and development departments and corporate offices, located in Butte, Montana.