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.
"We look forward to working with Global Technologies and moving forward to return MSE to a level of national prominence," said Jim Kambich, MERDI's President. Mr. Kambich continued, "I am working closely with Northey Tretheway, Chief Operating Officer of MSE. Together, with the people at MSE and MERDI, we intend to see a successful process and transition that again places MSE in a position to grow while at the same time benefiting the Butte community."
"This acquisition is the culmination of a year of discussions, reviews and good faith by both companies in reaching this point and has been part of Global's long term plans for our future. As I have stated in the L.O.I., MSE and all the business of MSE will remain in Butte, Mt. We also will keep the name MSE Technology Applications, Inc.
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