Business & Finance
Business and Finance
Business and Finance
Tue, March 29, 2011
Mon, March 28, 2011 Global Ecology Corporation Announces Equity Exchange With Canal Refining Company
MONTCLAIR, NJ--(Marketwire - March 28, 2011) - Global Ecology Corporation (GEC) (
GEC President & CEO Peter Ubaldi said, "We have been seeking a partner involved with oil production and refining to help expand the use of our licensed proprietary water processing chemical products and microbe hydrocarbon remediation technology. We intend to continue expanding our business model through the aggregation of environmentally sound technologies and processes that can complement our technology."
Canal President Robert McKee said, "Exchanging stock with an environmentally forward-thinking and publicly-traded company like Global Ecology is in many ways the perfect fit for our company at this time. We will realize an immediate benefit from utilizing their technologies and relationships in our processing sectors. In addition, we believe that GEC will have a significant positive impact on our long-term goals."
About Canal Refining Company
Canal Refining Company is a privately owned company associated with the energy business in Louisiana since 1941. The company owns and operates a refinery in Church Point, Louisiana and is in the process of upgrading and adding logistical facilities, which will allow the company to develop a significant expanded market share. Canal anticipates that the facility will go online in July 2011.
About Global Ecology Corporation
Through its extensive network, GEC has obtained licensing rights to several technologies in the water treatment and soil remediation fields. These proprietary applications help reduce algae, bottom sludge, harmful bacteria and hydrocarbon pollution. The GEC treatments are able to provide "green" and if needed, transportable methods to recover the usability of water, soil and land.
Forward-Looking Statements
This news release contains certain forward-looking statements (under Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) with respect to whether Global Ecology Corporation's ability to complete the transaction with Canal, whether the proposed business transaction will be financial and strategically beneficial to our company, whether Canal purchase of our stock at $.50 will be beneficial to our company at the time the stock sale is consummated and whether or not the proposed transaction will result in added value for our stockholders and provide working capital for our company. Because such statements include risks, uncertainties and contingencies, actual results may differ materially from those expressed or implied by such forward-looking statements. These risks, uncertainties and contingencies include, but are not limited to, the following: uncertainties relating to changes in general economic and market conditions; uncertainties regarding changes in the environmental remediation and energy industries; the uncertainties relating to the implementation of our global business strategy; and other risk factors as outlined in the company's periodic reports, as filed with the U.S. Securities and Exchange Commission. Forward-looking statements in this document speak only as of the date on which such statements were made, and we undertake no obligation to update any such statements that may become untrue because of subsequent events. We claim the safe harbor protection for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.
