HOUSTON, TX, August 31, 2014; Global Clean Energy, Inc. (OTC PINK: GCEI) is updating its shareholders as to recent events regarding its CFO and Founder
Global Clean Energy, Inc. Management Update
OTC Disclosure & News Service
Humble, TX -
HOUSTON, TX, August 31, 2014; Global Clean Energy, Inc. (OTC PINK: GCEI) is updating its shareholders as to recent events regarding its CFO and Founder.
On August 11, 2014, Kenneth Adessky, a director and Chief Financial Officer of Global Clean Energy, was notified that he received a temporary suspension as a member of the Quebec bar and will for a period of time be unable to practice law in Quebec. The circumstances surrounding the suspension of Mr. Adessky, a founder of the company and director since the company's inception, related to the disputed release of escrow funds. The claim was brought in spite of the claimant having received all property he was entitled to receive and, in fact, realized a significant return on the property. Mr. Adessky believes that his release of the escrow property was proper and intends to appeal the suspension. The GCE Board has unanimously supported Mr. Adessky in his claim that the release of the escrow funds was proper.
Mr. Adessky does not act as legal counsel to the company. Presently, the company uses two United States law firms and one Canadian firm as it relates to legal and regulatory matters.
Earl Azimov, President, and CEO stated, "We fully support Ken and are convinced in the end he will be exonerated, he has worked tirelessly for our shareholders and will continue to do so. Further, we are looking into the efforts by certain parties to harm the company and will keep our shareholders informed about what actions we will be taking."
The company is committed to enacting its' plans to develop clean energy projects, and Mr. Adessky is committed to the same endeavor for its shareholders.
Global Clean Energy, Inc. is a waste-to-energy conversion solutions company, focusing on using available and developing technologies to convert waste into commercially viable energy, a process the company refers to as Reforming Environmental Salvage into Clean Usable Energy (R.E.S.C.U.E.). GCE is the industry's most diversified aggregator and system integrator bringing solutions to the plastics, rubber, and platinum group metals recovery industries.
Statements in this release may be regarded, in certain instances, as "forward-looking statements" pursuant to certain sections of the Securities Act 1933 and the Securities Exchange Act 1934, respectively. "Forward-looking statements" are based on expectations, estimates and projections at the time the statements are made, and involve risks and uncertainties, which could cause actual results or events to differ materially from those currently anticipated, including, but not limited to delays, difficulties, changed strategies, or unanticipated factors or circumstances affecting Global Clean Energy, Inc. and its business. There can be no assurance that such forward-looking statements will ever prove to be accurate and readers should not place undue reliance on any such forward-looking statements contained herein. Global Clean Energy Inc. will not republish revised forward-looking statements to reflect events or circumstances after the date hereof to reflect the occurrence of unanticipated events.
GLOBAL CLEAN ENERGY, INC.