Mina Mar Marketing – Blog & Announcements

BEIJING, China, Dec 24, 2009 /PRNewswire-FirstCall via COMTEX/ — Global General Technologies (GLGT: PK) (www.glgt-corporate.com) further to the company news release of Dec 9, 2009; where, amongst other things, the company announced the intension to merge with the China based “Environmentally Friendly Recyclable ‘Plastic Wood’ Manufacturer and Distributor” (Sanhe). GLGT announces that the talks failed and that the Chinese company had rejected the merger with GLGT.

The management of Jiangxi Sanhe Science and Technology Co., Ltd., (Sanhe; http://www.sanhetech.com) had rejected this merger due to GLGT’s low stock price that would cause issuance of virtually a billion shares to absorb the company value, as well as different executive views between GLGT and Sanhe.

GLGT wants to further announce and inform its shareholders, that despite the collapse of the merger talks with Sanhe, the company will continue to seek a suitable merger prospects that will raise the company value and raise the stock value for its shareholders.

Michael Arnkvarn, CEO of GLGT, said, “We are a little disappointed because we’ve invested a lots of time and effort into this merger opportunity, but we just couldn’t make it work. But we are not giving up and we are still looking for a suitable candidate. We promise our shareholders that we will find a company that will bring additional value to the company and to the shareholders.”

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