Globaltech Holdings, Inc. Locates Acquisition Candidate Structured to Generate Increased Recurring Revenue for GLBH
01 June 2013 - 12:00AM
Marketwired
Globaltech Holdings, Inc. (OTC Pink: GLBH) is pleased to announce
its first agency acquisition target for 2013.
The acquisition candidate is in the Property and Casualty
sector. The target agency has been an ongoing business for a number
of years and has a proven track record, financials and an
established client base. Globaltech management will approach the
agency this coming week and express interest in the possible
evaluation and acquisition of the business. That process will
involve a request for financials and an evaluation of current
ownership/management. This possible acquisition agency fits with
GLBH's target market, having recurring revenue with possible year
over year increases. The target insurance agency is located in the
South West sector of Georgia and has a strong emphasis on the rural
population of this region.
Ormand Hunter, CEO of Globaltech Holdings, Inc., states, "We are
looking forward to evaluating this acquisition target. All our
potential acquisitions must have an established client base, strong
residual revenue and opportunity for continued growth going
forward."
About Globaltech Holdings, Inc.
Globaltech Holdings, Inc. (GLBH) is a progressive insurance
brokerage firm that provides turnkey solutions to protect their
client's financial interests. The Company's comprehensive approach
includes personal and business insurance programs from personal
auto, home, health, life, as well as commercial auto, general
liability, workers compensation and group/life to meet all of their
client's insurance needs.
Globaltech Holdings, Inc. remains focused on continued expansion
through acquisitions of insurance agencies in the Southeast section
of the United States.
For more information on Globaltech Holdings, Inc. please visit
http://glbholdings.com/ or contact Investor Relations at (973)
351-3868.
Safe Harbor
Statements about the Company's future expectations and all other
statements in this press release other than historical facts, are
"forward-looking statements" within the meaning of Section 27A of
the Securities Act of 1933, Section 21E of the Securities Exchange
Act of 1934, and as that term is defined in the Private Securities
Litigation Reform Act of 1995. The Company intends that such
forward-looking statements be subject to the safe harbors created
thereby.
The above information contains information relating to the
Company that is based on the beliefs of the Company and/or its
management, as well as assumptions made by any information
currently available to the Company or its management. When used in
this document, the words "anticipate," "estimate," "expect,"
"intend," "plans," "projects," and similar expressions, as they
relate to the Company or its management, are intended to identify
forward-looking statements. Such statements reflect the current
view of the Company regarding future events and are subject to
certain risks, uncertainties and assumptions, including the risks
and uncertainties noted. Should one or more of these risks or
uncertainties materialize, or should underlying assumptions prove
to be incorrect, actual results may vary materially from those
described herein as anticipated, believed, estimated, expected,
intended or projected. In each instance, forward-looking
information should be considered in light of the accompanying
meaningful cautionary statements herein. Factors that could cause
results to differ include, but are not limited to, successful
performance of internal plans, the impact of competitive services
and pricing and general economic risks and uncertainties.
Contact: Investor Relations Taylor Capitol, Inc. Stephen Taylor
(973) 351-3868 STEPHTAYL9@AOL.COM www.TheStockAlerts.com
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