USEP believes that coal-fired-generation is presently the only viable solution to the current and worsening electricity supply situation in the Pacific Northwest.
About Globaltex: Globaltex is a coal producing company which is in the process of finalizing the acquisition of USEP, a private company which has been working toward the goal of constructing a coal-fired plant in Washington State.
Some of the Factors that could cause actual results to differ materially from those expressed in the forward-looking statements include, but are not limited to: Globaltex and USEP's shareholders may not be able to agree on terms for a definitive acquisition agreement; Globaltex, a public company, may not be able to secure the required approvals from securities regulatory authorities to complete the acquisition of USEP; USEP may not be able to secure the required regulatory approvals for its power-plant project; the due diligence of the above-described Washington State site may find that the site is not acceptable for USEP's power-plant project; national and regional economic conditions in the U.
White Energy will take the successful business model established by USEP for Russell to a new level of excellence and will maintain its support to the community and its citizens.
White Energy said it plans to build on the relationship with the City of Russell established by USEP and will continue its support of activities in the Russell schools as well as other community programs.
If that initial assessment is positive, USEP will make a further payment of $50,000 by April 8, 2001 to extend the due diligence period by a further 90 days, during which USEP will continue its site evaluation and begin the permitting process.
NASD OTC - GBTXF and CDNX - GTX) pursuant to which Globaltex will acquire all of the shares of USEP.
Although the opening of the 2014 USEP is Sunday November 2, IFES requests all set-up and testing is
four (4) interpreters per language throughout the USEP.