Global Ecology Corporation Adopts Stock Repurchase Plan
November 28, 2011, Montclair, New Jersey -- Global Ecology Corporation, (OTC QB: 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: email@example.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.