HENDERSON, NEVADA--(Marketwire - 04/21/11) - Global General Technologies Inc. (PINK SHEETS:GLGT - News)(www.glgt-corporate.com) is pleased to announce the completion of its merger with Wuhan, China-based biotech company AB (Wuhan) Biotech Co. Ltd.
GLGT introduced AB (Wuhan) Biotech as its merger candidate at the end of March.
AB (Wuhan) Biotech is a China-based entity with ties to the American market (Abgenom, American Centrality Croup, Inc.). The company focuses on research and development, production and marketing mainly for Chinese market. Its principal objective is to become a leading supplier in molecular diagnosis and home-applicable end-user In Vitro Diagnostic (IVD) markets. The ultimate goal is to be the leader in developing and producing high quality, cutting-edge diagnostic products for various human diseases.
AB (Wuhan) Biotech is committed to developing, commercializing and popularizing advanced IVD kits/devices to improve human health. Its primary business is to design, develop, patent and market home-applicable diagnostic test papers and portable diagnostic devices related to cardiovascular diseases.
GLGT and AB Wuhan Biotech will soon update investors and followers of additional developments, including revenues, assets and merger details (including new management), through a separate filing and/or a news release.
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Information in this news release may contain statements about future expectations, plans, prospects or performance of Global General Technologies Inc. that constitute forward-looking statements for purposes of the Safe Harbor Provisions under the Private Securities Litigation Reform Act of 1995. The words or phrases "can be", "expects", "may affect", "believed", "estimate", "project" and similar words and phrases are intended to identify such forward-looking statements. Global General Technologies Inc. cautions you that any forward-looking information provided by or on behalf of Global General Technologies Inc. is not a guarantee of future performance. None of the information in this press release constitutes or is intended as an offer to sell securities or investment advice of any kind. Global General Technologies Inc.'s actual results may differ materially from those anticipated in such forward-looking statements as a result of various important factors, some of which are beyond Global General Technologies Inc.'s control. In addition to those discussed in Global General Technologies Inc.'s press releases, public filings, and statements by Global General Technologies Inc.'s management, including, but not limited to, Global General Technologies Inc.'s estimate of the sufficiency of its existing capital resources, Global General Technologies Inc.'s ability to raise additional capital to fund future operations, Global General Technologies Inc.'s ability to repay its existing indebtedness, the uncertainties involved in estimating market opportunities, and in identifying contracts which match Global General Technologies Inc.'s capability to be awarded contracts. All such forward-looking statements are current only as of the date on which such statements were made. Global General Technologies Inc. does not undertake any obligation to publicly update any forward-looking statement to reflect events or circumstances after the date on which any such statement is made or to reflect the occurrence of unanticipated events.
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