Item 1.01 Entry into a Material Definitive Agreement
On
September
10, 2013
,
Global Biotech Corp.
(the “
Company" or "Global") signed a finalized agreement with Purthanol International Ltd. to acquire
their know-how and all technical aspects of the purthanol extraction process. Further, they have also acquired all purchase orders
on hand (for forward delivery of purthanol within the next 12 months, or later if agreed to by both parties) and licensing agreements,
currently signed or in the process of being signed, for the purthanol extraction process. The consideration for all the above was
70 million newly issued common shares of Global. A part of said
agreement is a
non-compete clause with Global.
Item 2.01
As per the addended agreement between Global Biotech (now known
as Purthanol Resources) and Purthanol International, the Company has acquired certain assets. These assets are listed as Annex
A to the aforesited agreement.
Item 5.01
Due to the above listed transaction
,
Purthanol International
Ltd. owned 42.5% of the common stock of Global Biotech Corp. As of today’s date, March 10, 2014, they own 37.8% of the common
shares of Global. Louis Pharand, President of Purthanol International Ltd., has already joined Global as its President and as a
Director. No other significant arrangements or understandings have taken place as regards to this transaction.
Item 1.01 Entry into a Material Definitive Agreement
On
December
16, 2013, Global Biotech Corp.
(the “
Company" or "Global")
signed a finalized agreement with the owner of Biocardel Quebec, a privately held company, to acquire 100% of all outstanding shares
of that corporation for $5 million, payable $100,000 at signing of the Agreement, $2,400,000 in 9 months, as a balance of sale
and $2,500,000 in preferred convertible shares of Global. These shares are convertible at a 25% discount to the
90 trading -day average sales price of the common shares, whenever
Global chooses to exercise the conversion rights. These shares must be designated and issued to Biocardel no later than 120 days
after the signing date of the agreement. No Officer or Director of the acquired company will become an Officer or Director of Global,
at present. Biocardel owns a production facility in Richmond, Quebec, that turns biologic oil waste products and byproducts into
biodiesel fuel, a commodity in demand in both North America and Europe.
Item 2.01
As per the addended agreement between Purthanol Resources and Biocardel
Quebec, the Company has acquired all of the assets of Biocardel Quebec. These assets are part of the Biocardel financial statements,
attached to this 8-K report.
