Dubai, UAE -- November 21, 2017 -- InvestorsHub NewsWire --
Global Equity International, Inc. (OTCQB: GEQU) and its fully-owned foreign subsidiaries,
a specialist consultancy firm with offices located in Dubai and
London (the "Company"), are proud to announce that today, November
21, 2017, management filed a Form 8-K with the SEC that formally
disclosed the execution of a capital funding agreement with William
Marshal Plc., an underlying asset of the AION Adventurous Fund and
the AION Cautious Fund, which, in turn, are both compartments of a
Luxembourg-based SICAV-SIF called AOIN SICAV-SIF Fund.
The agreed capital funding will be initially for a minimum of
Two Million Great Britain Pounds (approximately US$2.64 million)
and will be received in one or more tranches commencing the first
week of December 2017.
This capital funding agreement is a major milestone in the
development of the Company that will enable the Company to finally
create an all-encompassing 'financial services
solution' that management has been patiently and
diligently working towards for the last 12 months.
The capital funding received will mainly be deployed over four
separate targeted acquisitions of financial advisory firms with
multiple millions of dollars of funds under management.
The first two companies to be acquired are United Kingdom based
as announced in our June 2, 2017 press release; one of which is a
financial advisory firm fully licenced by the UK Financial Conduct
Authority ("FCA") with approximately $51,000,000 of funds under
management, and the second of which is a "Discretionary Fund
Management Group" based in The Isle of Man with approximately
$39,000,000 of funds under management. The combination of these
first two acquisitions will give the Company a $90,000,000 million
book of business within the UK, several hundred retail clients, and
relationships with a wide array of new supportive companies and a
firm stronghold position within the financial services sector.
The third and fourth acquisitions are Asian-based financial
advisory firms with a similar amount of funds under management to
the UK entities, which when acquired, will give our Company an
initial combined $180,000,000 of funds under management, a client
base into the thousands, a small but highly effective distribution
force, 20 more staff and a true regulatory diversification with a
second footing in the ever expanding Asian markets.
All four targeted acquisitions have been in business for many
years, are cash flow positive and profitable.
Not all this capital funding will be deployed for inorganic
growth as management intends to use the surplus capital funding to
pay off convertible debt and also management intends to endeavour
to renegotiate and pay off all non-convertible debt too.
Peter Smith, CEO of Global Equity International Inc.,
said: "We have
waited a long time to be able to announce this closing. It is a
monumental development in our Company not only allowing us to
complete the circle from client to contract to funding to closing,
it will also provide us with solid long term income, a distribution
network, further development potential and a strong foothold in
more than one highly regulated market. It may have been a long time
coming, but this agreement moves the company into a different
sphere. We will now become more attractive to potential clients for
our capital markets division and allow us to be more selective with
the clients we work with, while significantly shortening the time
frame from contract to completion. In addition, we will have long
term income from the books of business we will own and a
distribution force not only for their traditional financial
services opportunities that are profitable in their own right, but
also for our capital markets division. We anticipate growing the
advisory business very much in the way I did in my previous company
whereby my prior company ended up with US$2.2 Billion of funds
under management."
Enzo Taddei, CFO of Global Equity International Inc.,
said: "The business
to date has suffered from the time lapse in generating a client and
completing on that transaction. It has long been our desire to try
to circumvent that time lapse by turning the Company into an 'all
service' financial institution. The terms that we agreed for this
round of capital funding are extremely favourable for the Company
and its shareholders. William Marshal Plc. will be obliged to
convert to equity no earlier than one year and one-day post
funding. The amount funded will be converted at the 'higher' of
$0.02 per share or the average "closing price" of our common stock
on the Over-the-Counter Bulletin Board for the 60 trading days
prior to 366th day conversion date, meaning that if our stock is
trading at an average price higher than $0.02, the conversion price
will be established at that higher price; hence keeping dilution of
our Common Stock to a minimum."
About Global Equity International Inc. and
Subsidiaries.
Global Equity International Inc., through its wholly-owned
foreign subsidiaries, advises worldwide business leaders with their
most critical decisions and opportunities pertaining to growth,
capital needs, structure and the development of a global presence.
With offices in Dubai and London, Global Equity has developed
significant relationships in the US, UK, Central Europe, the Middle
East and South East Asia to assist clients in realizing their full
value and potential by bringing them to external capital and
resources that place an emphasis on collaborative thinking.
Furthermore, because Global Equity has offices in key financial
centers of the world, they are able to introduce their clients to a
unique opportunity of listing their shares on any one of the many
stock exchanges worldwide.
Safe Harbor Statement
This press release may include
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995, including statements
related to anticipated revenues, expenses, earnings, operating cash
flows, the outlook for markets and the demand for products.
Forward-looking statements are no guarantees of future performance
and are inherently subject to uncertainties and other factors which
could cause actual results to differ materially from the
forward-looking statements. Such statements are based upon, among
other things, assumptions made by, and information currently
available to, management, including management's own knowledge and
assessment of the Company's industry and competition. The Company
refers interested persons to its most recent Annual Report on Form
10-K and its other SEC filings for a description of additional
uncertainties and factors, which may affect forward-looking
statements. The company assumes no duty to update its
forward-looking statements.