Global Technologies Group Inc. (PINK: GTGP) shares have risen sharply in trading today after the company announced the execution of a Letter of Intent (LOI) with Montana Economic Revitalization and Development Institute Inc. (MERDI) for the acquisition of 100% of equity interest in MSE Inc. and its subsidiaries.
GTGP shares rose to an intra-day high of $0.18 in trading today. At last check, the stock was up 19.46% to $0.178 on above average volume of 299,323. It has now gained more than 32% in the last three trading sessions.
GTGP said that its lawyers and accountants are creating a timetable for the exchange of documents in order to prepare for the purchase contract. The acquisition includes the 52 acre Mike Mansfield Advanced Technology Center, which houses all of MSE’s subsidiaries. The center, which is a former Department of Energy facility, has labs, engineering, research and development departments and corporate offices and is located in Butte, Montana.
Jim Kambich, President of MERDI, said that he looks forward to working with GTGP and moving forward to return MSE to a level of national prominence. Kambich said that he intends to see a successful process and transition that again places MSE in a position to grow while at the same time benefiting the Butte community.
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