GLOBAL EARTH ENERGY AND MODERN COAL ANNOUNCE CONTRACTING AGREEMENT FOR THE MINING OF THE SAMUEL COAL SITE WITH ABUNDANCE COAL
WILMINGTON, NC, June 8, 2011 (MARKETWIRE via COMTEX) -- Global Earth Energy, Inc. (OTCQB: GLER) and Modern Coal are proud to announce that they have executed a contract mining agreement with Abundance Coal. Abundance Coal has agreed to be the contract miner for the Samuel Coal Company sites after the Global Earth and Modern Coal close the acquisition of those sites. The mines are located on approximately 5,000 acres near Hindman in the eastern part of Kentucky. This area is considered one of the largest coal producing regions in the USA today.
First coal production from the area was in the late 1800s. The nearby counties account for approximately 75% of the coal produced in Kentucky and approximately 12% of the coal produced in the USA. The partners’ acquisition consists of three existing mines that produce a very clean, high-quality steam and metallurgical coal. The coal is produced using surface and subsurface mining operations.
Abundance Coal is a highly experienced and active, major contract mining company in Eastern Kentucky. Abundance Coal’s management team has operated multiple coal mines for over 40 years, employs a local labor force, and has day-to-day experience operating mines for some of the world’s largest coal production companies.
http://www.faqs.org/sec-filings/110620/...TH-ENERGY-INC_8-K/ex993.htm
Global Earth Energy and Modern Coal Sign Purchasing Agreement to Acquire Samuel Coal
--Closing Date Set for August 11, 2011--
WILMINGTON, NC, June 15, 2011: Global Earth Energy, Inc. (OTCBB: GLER) announced, along with its joint venture partner Modern Coal, LLC, a Texas major contract mining company, that they have executed a purchasing agreement to acquire Samuel Coal, Inc. based in Kentucky. The purchase includes all of Samuel Coal's existing properties, multiple permits, operations and mineral resources. The purchase price of $7.5 million will be initially funded by a cash down payment paid by Modern Coal to Samuel Coal by June 20, 2011. Under the terms of the agreement, the balance owed will be paid on the closing date of the transaction on August 11, 2011.
This acquisition will enable Abundance Coal, a 40-year coal mining company based in Kentucky, to fulfill its previously announced mining contract agreement with Samuel Coal. Further, due to the abundance of resources on the Samuel Coal properties, the joint venture will be able to ramp up production and move forward with multiple letters of intent already in place. The mines are located on approximately 5,000 acres near Hindman in the eastern part of Kentucky.
http://www.faqs.org/sec-filings/110620/...TH-ENERGY-INC_8-K/ex992.htm
Global Earth Energy Receives 25% Ownership in $92MM Firm, Global Earth Natural Resources, Inc.
WILMINGTON, NC, June 16, 2011: Global Earth Energy, Inc. (OTCBB: GLER) announced today it has 25% equity ownership in Global Earth Natural Resources, Inc (GENR) effective June 16, 2011. The valuation completed on June 12, 2011 by the independent accounting firm Geneve Rothweil Partners, Ltd., valued Global Earth Natural Resources, Inc. at a fair market stock value of $91,906,300.00 based on discounted cash flow analysis.
GENR, Inc’s. business lines include natural resources for multiple end use purposes, including coal and other minerals. GENR, Inc. a Canadian corporation, is in the process of being listed on a major global stock exchange. Detailed information on the deal will be available on GLER website.
Sydney Harland CEO of GLER stated, “We are very pleased to have completed this deal with Global Earth Natural resources. This will add great value and profitability to the company and our shareholders going forward.“
Geneve Rothweil Partners, Ltd. (GRP) have vast experience in accounting, finance, and valuation work. GRP and its principals have worked as a valuation and financial partner in transactions on a global basis involving engagements for transactions ranging from succession planning, to leveraged buyouts, management buy-ins, spinouts, financings, public offerings and many others.
The principals of the firm have been involved with valuating organizations in Europe and North America. The principals have also been invited to speak to some of the world’s largest institutions.
http://www.faqs.org/sec-filings/110620/...TH-ENERGY-INC_8-K/ex991.htm
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