Global Resource Energy Announces Intent to Sell Partial Interest in Its Exclusive North American Master Distributor Agreement for Clean Energy High Efficiency LED Street Lighting
Aug 14, 2012
LAS VEGAS, NV -- Global Resource Energy, Inc. (OTCQB: GBEN) ("Global," "Global Resource" or the "Company"), a development stage company engaged in the clean technology fuel cell sector, is pleased to announce further expansion into clean energy by signing a Letter of Intent to sell 49% of its exclusive North American Distribution of CLED Street Lights Rights to Balon Bleu Holdings LLC.
Global Resource Energy Inc.'s President, Robert Baker, states, "This Letter of Intent for a 49% purchase of the Company's Exclusive North American Rights of the CLED Street Lights provides capital and additional resources for the Company's entry into the North American Market with CLED Street lights."
Under the terms of the agreement Balon Bleu Holdings, a Nevada LLC, will pay an immediate deposit of $50,000 to the Company and $50,000 every month over the next five months for a total of $300,000 USD to earn a 49% assignment of interest for the North American Rights to the highly efficient CLED Street Lighting system.
Kardings America has assigned to Global Resource Energy Inc. on January 26, 2012 its distribution agreement with the Chinese manufacturer The Dongguan City CLED Optoelectronic Co. Ltd. for the distribution of LED Street Lights, Solar LED Street Lights, LED Tunnel Lights, LED Flood Lights, LED High Bay Lights, LED High Mask Lights, LED Garden Lights, Light Sourcing and all Indoor Lighting sold and exported by Dongguan with their trademark CLED.
This distribution agreement will allow Global Resource Energy Inc. to undertake the business operations of supplying highly efficient LED street lighting to municipalities throughout North America through the Company's exclusive North American distribution agreement. The Company has the exclusive rights to market, sell and distribute the most efficient and long lasting street lights to municipalities, cities and counties throughout the United States and Canada.
Additionally the Company will provide the service to help guide municipalities through complex negotiations with utilities and with installation contractors to help maximize the cost savings of upgrading.
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As part of the Company's public disclosure as a reporting issuer, additional details of the Company's business, finances, appointments and agreements are filed with the Securities and Exchange Commission's ("SEC") EDGAR database. For more information, visit: www.global-resource-energy.com.
About Global Resource Energy, Inc. (OTCQB: GBEN)
Global Resource Energy is a development stage clean technology company interested in the development and commercialization prospects of new and innovative fuel cell and other efficient green technologies aimed at creating a safer and cleaner environment while improving the health of the domestic economy. Sustainable growth is the cornerstone of the Company's mandate and vision and Management embraces the convergence of environmental solutions and economic viability as a yardstick for stakeholder success. Find out more at www.global-resource-energy.com.
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