06 May 2003 13:02
Globus Announces $4 Million Private Placement Financing
NEW YORK--(BUSINESS WIRE)--May 6, 2003--Globus International Resources Corp. (OTCBB:GBIR) announces a Private
Financing Agreement with an investment company in Western Europe. The package will result in a total of $4 Million
invested in the Company and involves the issuance of two million (2,000,000) shares of the Company's Common Stock
and the granting of a minority interest in a 100,000 square foot cold storage facility to be built in Moscow, Russia.
Globus Cold Storage Corp, a majority owned subsidiary of the Company, plans to begin construction of the cold storage
facility this summer.
The Company has received an initial investment of $700,000 and expects the total $4 Million financing to be completed
by mid-June 2003 According to the Agreement, the two million shares of Common Stock are "restricted
securities" and do not carry registration rights.
--30--BL/mi* CONTACT: Globus International Resources Corp., New York Herman Roth, 212/558-6100 Fax: 212/558-6060
Yury Greene, CEO, says: "We are very pleased to have a strong financial partner who has committed to invest $4
Million in equity in our Company. We expect that this financing will allow us to increase substantially our revenues and
earnings by enabling the Company to function as a principal in its international trading operations. For example, $4
Million in capital can be turned over each month to generate $4 Million in revenues with a projected 10 to 15% pre-tax
profit margin. In addition, the funding allows us to begin construction on the cold storage facility in Moscow this
summer. We have already identified the site, selected a construction company, and initiated an application for a loan
from Overseas Private Investment Corporation."
Globus International Resources Corp., based in New York City with representative offices in Russia and the Ukraine,
is a full service, Internet-based international trading company. It exports primarily food, food products, auto parts,
and construction materials from the U.S. and Western Europe to distributors in Russia and the Ukraine.
This release contains forward-looking statements based largely on the Company's expectations and is subject to a
number of risks and uncertainties, certain of which are beyond the Company's control. The Company undertakes no
obligation to release publicly the results of any revision to these forward-looking statements that may be made to
reflect events or circumstances after the date hereof or to reflect the occurrence of anticipated events.
[CAIW [Corporate Announcements Intelligence Wire]] |
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