Global NuTech Acquires International Plant Services in All Equity $15 Million USD Transaction

HOUSTON, Jan. 10, 2012 /PRNewswire/ -- Global NuTech, Inc. (OTCQX: BOCL) announced today that the company has acquired International Plant Services, LLC. (IPS) in an all equity transaction. The $15 million USD transaction was originally agreed to be in the form of $5 million USD in stock, and $10 million USD in debt.  However, the IPS sellers agreed that a debt free company would be healthier and a more attractive investment opportunity, and agreed to take all equity for their company. 

David Mathews, newly appointed CEO of Global NuTech, stated, "The owners of IPS have clearly demonstrated their confidence in our international and USA growth plans by their willingness to take all equity in consideration of the purchase of their company. IPS, as a growing company not burdened by debt, can more easily take advantage of expansion opportunities and acquisitions in 2012. We believe that our vertical integration plan of rapid expansion throughout the energy services and production areas will result in a healthier, more profitable company."  

About Global NuTech, Inc.

Global NuTech, Inc. (OTCBB: BOCL) With the acquisition of IPS, the Company is expanding its previously announced plans in the energy sector, driven by International Plant Services existing business in management and construction services to the world's largest and best known energy companies in the refinery, chemical, mining and power industries.

About International Plant Services

International Plant Services, LLC (IPS) was founded in 2003 to provide construction services and skilled industrial trades personnel to the energy sector in the United States and other countries.  Located in the Houston area, the heart of the Oil & Gas Industry, International Plant Services provides construction services, engineering/technical assistance and skilled craft support to its industrial clients in North America and is currently expanding throughout the world.

Precautionary and Forward-Looking Statements

This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," 'expected," "anticipates," "draft," "eventually" or "projected."  You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in BOCL's disclosures or filings with the SEC.  You are further cautioned that penny stocks, like BOCL, are inherently volatile and risky and that no investor should buy this stock unless they can afford the loss of their entire investment.

SOURCE Global NuTech, Inc.