Global Technologies Group, Inc. signed a letter of intent to acquire MSE Technology Applications, Inc. from Montana Economic Revitalization And Development Institute, Inc.

Global Technologies Group, Inc. (OTCPK:GTGP) signed a letter of intent to acquire MSE Technology Applications, Inc. from Montana Economic Revitalization And Development Institute, Inc. on May 7, 2012. A purchase contract was delivered on August 3, 2012. MSE and all the business of MSE will remain in Butte, Mt. MSE Technology Applications, Inc. will retain its name. The transaction is expected to close in early September 2012. As on July 30, 2012, the expected closing of the transaction was extended for two weeks from the original date of August 15, 2012 to September 1, 2012. As on September 5, 2012, the closing of the transaction has been delayed and September 14, 2012 has been penciled down for the terms to be finalized. As of October 8, 2012, the transaction has been approved by board of directors of Montana Economic Revitalization and MSE Technology Applications. The transaction is expected to be closed on October 25, 2012.