Globetech Proceeds With Acquisition
22 July 2010 - 4:05AM
Marketwired
Globetech Ventures Corp. (OTCBB: GTVCF) (FRANKFURT: GTV)
("Globetech," the "Company") is proceeding with the acquisition of
the White Channel property in British Columbia, Canada. The
property is 50 kilometers east of Williams Lake on the main
highway.
The highway crosses the property in two locations with excellent
access for year round operations. The White Channel property
contains a deposit of silica rich material. This material has many
applications in solar energy, cement, landscaping, fibre optics and
paint.
The terms of the agreement are being finalized with cash
payments over five years of $475,000 and the issuance of 2 million
shares. In addition there are various royalties which can be
purchased for the sum of $1 million.
Testing is currently being carried out to determine the
resulting product mix from impact crushing. This property already
has some permits in place and is ready for production to begin
after testing results and marketing surveys are in place.
On Behalf of the Board,
"Casey Forward" Casey Forward, President, CEO
Globetech Ventures Suite 1130 -- 789 West Pender Street
Vancouver, BC, V6C 1H2 Tel: 604 669-9330 Fax: 604 669-9335