Canglobe International, Inc. Announces New CFO.EDMONTON, Alberta -- Canglobe International Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CGLO CGLO Coastguard Liaison Officer ), Chairman of the Board of Directors, Mr. Donald Getty announces the following: New Director and Chief Financial Officer: The Company has retained Theodor Hennig, C.A. of Calgary, Alberta as the new CFO See Chief Financial Officer. . Mr. Hennig has also agreed to join the Board of Directors of CGLO. Mr. Hennig earned an Honors Economics (Chartered Accountancy Option) degree from the University of Waterloo The University of Waterloo (also referred to as UW, UWaterloo, or Waterloo) is a medium-sized research-intensive public university in the city of Waterloo, Ontario, Canada. The school was founded in 1957. in 1981 and became a Chartered Accountant in Alberta in June 1984. He has extensive experience in the management and financing of high-growth and profit-oriented public companies. He will be a valuable addition to Canglobes' management team and Board. Beiseker Medical Waste Treatment Facility By way of an update to our May 31 and July 6, 2005 press releases, Canglobe was unable to arrange the necessary financing to complete the acquisition of the Beiseker facility as previously announced and has consequently negotiated an extension until October 31, 2005 in order to do so. The extension called for a payment of $50,000 to be applied against the principal and the accrual of interest at 7% until closing. Management is working hard to arrange the necessary financing to close this material acquisition. The autoclave autoclave Vessel, usually of steel, able to withstand high temperatures and pressures. The chemical industry uses various types of autoclaves in manufacturing dyes and in other chemical reactions requiring high pressures. equipment and accessories mentioned in the April 14, 2005 press release are on site and will be installed upon successful completion of the acquisition of the Beiseker facility. The Company continues to operate this facility through its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. Beiseker Envirotech Inc. and it has been generating positive cash flow since June 1, 2005. CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This news release contains forward-looking statements that are subject to certain risks and uncertainties that may cause actual results to differ materially from those projected on the basis of such forward-looking statements. Such forward-looking statements are made based on managements beliefs as well as assumptions made by, and information currently available to management pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. For more information on Canglobe International, Inc., please email Don Sampson /Theodor Hennig, at www.Globetech@shaw.ca . |
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