Vancouver, British Columbia (FSCwire) - Global Remote Technologies Ltd. (the “Company”) (CSE:RGT, Frankfurt Stock Exchange:GR9) is pleased to announce that the Company has today closed the purchase transaction pursuant to the Membership Interest Purchase Agreement (the “Purchase Agreement”) previously announced on September 28, 2015 among the Company, Kane Smith, President and a director of the Company, and Global Remote Technologies, LLC (“Global Remote US”), formerly known as North American Holdings, LLC.
Pursuant to the Purchase Agreement, Mr. Smith agreed to sell all of his membership interests in Global Remote US to the Company in consideration for CAD$1.00. As a result of the purchase transaction, Global Remote US is now a wholly-owned subsidiary of the Company.
About Global Remote US
Global Remote US is in the business of providing services and technologies for the energy sector, including assisting customers with the construction and implementation of pipeline, refinery, power plant, and mechanical integrity projects, and offers its products and services to Mexican oil companies. Global Remote US’ scope of services range from project planning and estimating to surveying, development, construction management, safety and quality inspection, start-up, and commissioning and its team is dedicated to successfully converting conceptual plans to safe operating facilities based on the field engineering, construction management, and inspection skills of the field staff.
About the Company
The Company focuses on the deployment of emerging technologies for the energy sector. The Company has licensed multiple patent pending tools for the oil and gas industry, which are currently being assembled for release in 2015. Using its advanced engineering and leadership experience, the Company brings cutting edge processes and technology to the oil patch. Its remote sensor packages transmit telemetry from drilling and production sites in real time to a central server where it is viewed in the cloud. The systems are designed to provide key personnel an early warning system to avoid equipment failures or costly compliance fines. The Company collects and communicates vital information on the status of equipment, tanks, and pipelines for exploration, production, and transmission of oil, gas and water. It is headquartered in Vancouver, BC, with offices in Denver, Colorado and Houston, Texas.
Further information about the Company is available under its profile on the SEDAR website, www.sedar.com, on the CSE website, www.thecse.com, and on its website, www.grtcse.com.
For further information on the Company, please contact:
Chris Dorris
Director and CEO
Telephone: +1 888.381.3222
Email: info@grtcse.com
Website: www.grtcse.com
Forward-Looking Information:
This press release may include forward-looking information within the meaning of Canadian securities legislation. The forward-looking information is based on certain key expectations and assumptions made by the management of the Company. Although the Company’s management believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward- looking information because the Company cannot provide any assurance that it will prove to be correct. These forward-looking statements are made as of the date of this press release and the Company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/global09302015.pdfSource: Global Remote Technologies Ltd. (CSE:RGT) https://www.grtcse.com/index.html
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