Global Clean Energy, Inc. Management Update

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

Aug 31, 2014
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.
Investor Relations
713-852-7474
www.globalcleanenergy.net


http://www.otcmarkets.com/stock/GCEI/news/Global-Clean-Energy--Inc--Management-Update?id=86997&b=y

Featured Product

Flex-Core - Flexible Split-Core Current Transformer

Flex-Core - Flexible Split-Core Current Transformer

The FCL model split-core current transformers have multiple benefits, including a flexible twisting motion for ease of application. Installing a split-core CT means there is no need to disconnect your primary conductor(s) which reduces downtime. Many customizations are available including extended secondary lead wire lengths, various outputs including 5A, 1A, 1VAC, and 0.333VAC, and custom rubber inserts to help center the CT and maintain accuracy. The FCL models can be used in applications up to 720VAC and have an operating frequency from 50Hz to 400Hz.