New Issue: Global Energy negotiates $1.5 million placement of common stock

By Devika Patel

Knoxville, Tenn., Sept. 15 - Global Energy, Inc. arranged a private placement of shares for up to $1.5 million on Sept. 10, according to an 8-K filed Tuesday with the Securities and Exchange Commission.

The company will sell a total of between 100 million and 150 million common shares to Yuval Ganot at $0.01 per share. The shares will be sold in tranches on the 15th of every month for 16 months.

New York-based Global Energy develops alternative energy technologies.

Issuer:	Global Energy, Inc.
Issue:	Common stock
Amount:	$1.5 million
Shares:	100 million (minimum), 150 million (maximum)
Price:	$0.01
Warrants:	No
Investor:	Yuval Ganot
Pricing date:	Sept. 10
Stock symbol:	OTCBB: GEYI
Stock price:	$0.02 at close Sept. 10
Market capitalization:	$1.37 million

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