WINDISCHLEUBE, Germany, March 1, 2011 /PRNewswire/ -- The Board of Directors of Global Immune Technologies, Inc. (OTB QB: GIMU) today announces that the deal originally announced on December 22, 2010 has been finalized with Mid Atlantic Capital Associates SL of Mallorca, Spain and Institute of Applied Technology of Germany previously announced. The Joint Venture agreed to has also been closed and the entity RenOnuG has been formed as a German company. The details of the JV were disclosed in our 8K filing of February 22nd.
On 15 February 2011 the Institute of Applied Technology was issued shares of common stock in the amount of 92,000,000 shares being approximately 80.08% of the then issued shares of common stock outstanding. Additionally 1,000,000 shares were paid as the fee for the deal to the seller, Mid Atlantic Capital Associates SL and a finder's fee of 5,694,508 shares were paid equalling less than 5% of the then issued and outstanding common stock. The Registrant now has 114,890,153 shares of common stock issued and outstanding with no change in the float estimated at approximately 11,000,000 shares.
An 8K will be filed shortly.
Further information can be obtained by phoning Jeffrey R. Bruhjell +1 406 558 4947
Safe Harbour Statement
This communication contains statements that may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Global Immune Technologies, Inc. and members of its management as well as the assumptions on which such statements are based.
Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-looking statements include fluctuation of operating results, the ability to compete successfully, and the ability to complete before-mentioned transactions.
The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
SOURCE Global Immune Technologies, Inc.