Global Senior Enterprises, Inc Enters Into Merger and Acquisitions Agreement
December 20 2013 - 1:26PM
Marketwired
Global Senior Enterprises, Inc Enters Into Merger and Acquisitions
Agreement
FORT WAYNE, IN--(Marketwired - Dec 20, 2013) - Global Senior
Enterprises, Inc (OTC: GSET) announces today that it has entered
into an definitive agreement with The World Financial Holdings
Group Co., LTD and China Sunset Holdings Group Co., LTD (both
located in Mainland China).
Global Senior Enterprises, Inc is a company based in the United
States, however the focus and main goal of the company is to
develop Senior Residential and Care Facilities for the elder
population and tourism project of Mainland China. The majority
Shareholder, SHANGHAI SHIHONG FINANCE MANAGEMENT COMPANY, located
in Shanghai, China has recognized the enormous opportunity for a
definitive and organized effort to address the growing demand in
China.
The Parties of the agreement will share resources to combine the
advantages of each to accomplish the common goal. China Sunset
Holdings Group Co., LTD. is in control or has access to the control
of several multifamily residential apartment complexes, hotels and
convenience stores. Under the terms of the agreement, the
properties will be appraised by professional and qualified
agencies. Once the real value has been established the properties
will be acquired by Global Senior Enterprises, Inc in exchange for
its Common stock at $5.00 (USD) per share. Currently there have
been properties in excess of $300,000,000 (RMB) identified by the
company for acquisition.
Under further terms of the agreement Global Senior Enterprises,
Inc will be afforded to house its China operations in the Corporate
Headquarters of China Sunset Holdings Group Co., LTD for
convenience and the optimal cooperation to benefit all Parties.
A full version of the agreement can be accessed on OTC
Markets.
FORWARD LOOKING STATEMENT This press release contains certain
"forward‐looking" statements, as defined in the United States
Private Securities Litigation Reform Act of 1995 that involve a
number of risks and uncertainties. Statements, which are not
historical facts, are forward‐looking statements. The Company,
through its management, makes forward‐looking public statements
concerning it expected future operations, performance and other
developments. Such forward‐looking statements are necessarily
estimates reflecting the Company's best judgment based upon current
information and involve a number of risks and uncertainties, and
there can be no factors that could cause actual results to differ
materially from those estimated by the Company. They include, but
are not limited to, the Company's ability to develop operations,
the Company's ability to consummate and complete the acquisition,
the Company's access to future capital, the successful integration
of acquired companies, government regulation, managing and
maintaining growth, the effect of adverse publicity, litigation,
competition, sales and other factors that may be identified from
time to time in the Company's public announcements.
World Financial (PK) (USOTC:WFHG)
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