Global Ecology Corporation Adopts Stock Repurchase Plan
November 28 2011 - 9:30AM
Marketwired
Global Ecology Corporation, (OTCQB: GLEC) (PINKSHEETS: GLEC)
http://www.geco.us, an environmental remediation company, announced
today that it has adopted a plan to repurchase up to 10,000,000
shares of its issued and outstanding common stock in accordance
with the guidelines specified in Rule 10b-18 and Rule 10b5-1 of the
Securities Exchange Act of 1934, as amended.
The plan, which is immediately effective, allows Global Ecology
to purchase its issued and outstanding common shares in the open
market or in negotiated transactions, from time to time, depending
on market conditions and other factors as well as being subject to
relevant rules under Untied States securities regulations. The plan
does not obligate the company to make any purchases, at any
specific time or in any particular situation. The plan may be
suspended or discontinued at any time at the sole discretion of the
company. Share repurchases will be funded with the company's
available cash, after determining the working capital requirements
of the company. Accordingly, there is no guarantee as to the exact
number of shares that will be repurchased under the plan.
The company's Board of Directors authorized the repurchase plan
because it believes recent market conditions may have caused the
company's common stock to be undervalued. The timing and number of
any shares repurchased will depend on the terms and conditions of
the plan and no assurance can be given that any specific amount of
common stock will be repurchased.
Global Ecology CEO Peter Ubaldi said, "The decision to establish
the plan reflects our confidence in the fundamentals of our
business and is consistent with our long term strategy to create
shareholder value."
Please visit the company's website for more information:
www.geco.us.
Investors may contact President & CEO Peter Ubaldi at
973-655-9001 or Frank Hawkins, Hawk Associates, at 305-451-1888,
e-mail: global.ecology@hawkassociates.com. To receive future
releases in e-mail alerts, sign up at
http://www.hawkassociates.com/about/alert.
This news release includes forward-looking statements regarding,
among other things, the company's business and financial plans,
strategies and prospects. Although the company believes that its
plans, intentions and expectations reflected in or suggested by
these forward-looking statements are reasonable, it cannot provide
assurance that it will achieve or realize these plans, intentions
or expectations. Many of the forward-looking statements contained
in this news release may be identified by the use of
forward-looking words such as: believe, expect, anticipate, should,
planned, will, may, intend, estimated, and potential, among others.
Important factors that could cause actual results to differ
materially from the forward-looking statements made in this news
release include market conditions and those set forth in any
reports or documents that the company may publicly file from time
to time.
Contacts: Peter Ubaldi President & CEO 973-655-9001 Frank
Hawkins Hawk Associates 305-451-1888 e-mail:
global.ecology@hawkassociates.com
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