GL Energy and Explorations Inc.
GL Energ. and Explo. Inc.: GEEX/SEM Amended Joint Venture Agreements (Financing)

Corporate-news announcement sent by DGAP. The sender is solely responsible for the contents of this announcement. ——————————————————————————– GEEX/SEM Amended Joint Venture Agreements (Financing) Friday March 19, 3:57 pm ET VANCOUVER, March 19 /PRNewswire-FirstCall/ – On March 3, 2004 GEEX and SEM amended the J/V Agreements, having expired on January 22, 2004, whereby GEEX will continue to earn a 60% equity interest in the 2 previous identified heavy mineral deposits located in Chile, South America. The new terms and conditions specify that GEEX will provide $20,000,000 US in financing to SEM who in turn will build the Pilot and Production Plants and a Town-site. Webster Financial Resources Inc., (WFR) Florida, have approved a $20,000,000 Bank Guarantee for the property development, town-site construction and marketing costs. GEEX is awaiting confirmation for WFR than an affiliated Funding Bank has agreed to release the $20,000,000 for the project. ADVERTISEMENT The above information was included in the 10-K annual filing. Those interested can access this on the Edgar System. Contact Information: Ray Johnson 1-866-639-3900 Certain of these statements contained in the press release may be deemed forward-looking statements, and factors that could actual results to differ materially from these statements and matter are risks that other factor detailed from time to time, in the Company’s reports with Securities and Exchange Commissions, including, but not limited to, the Company’s Annual Report on Form 10-K and its Quarterly Form 10-K. end of message, (c)DGAP 22.03.2004 ——————————————————————————– WKN: A0BKV5; ISIN: USU3785P1067; Index: Listed: Freiverkehr in Berlin 222002 Mär 04