HENDERSON, NEVADA--(Marketwire - 05/10/11) - Global General Technologies Inc. (PINK SHEETS:GLGT - News)(www.glgt-corporate.com) and its main subsidiary, AB (Wuhan) Biotech Co. Ltd., have invested in a joint venture with three other parties in Wuhan, China.
AB (Wuhan) Biotech signed a Letter of Intent in March 2011 with these parties to invest in and set up a joint venture focusing on the research and development of biotech products for diagnosing, preventing and treating rabies, which is the biggest life-threatening infectious disease in China and a major problem in India and other countries.
AB (Wuhan) Biotech will be the biggest shareholder in this new company. Another major shareholder will be a top scientist in the area of rabies research who is currently serving as a full-time professor at a respected American university.
GLGT recently acquired AB (Wuhan) Biotech, a Wuhan, China-based biotech company that's committed to developing, commercializing and popularizing advanced in vitro diagnostic (IVD) kits and devices.
GLGT will keep its followers and investors updated on this new joint venture and other company developments on a timely basis.
Safe Harbor Statement
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.
Global General Technologies Inc.
No comments:
Post a Comment