Global Biotech Corp. (OTCPK:GBIQ) signed an agreement in principal to acquire the assets of Purthanol Ltd. in stock on September 3, 2013. Louis Greco resigned as a Director and the President of Global Biotech Corp while Louis Pharand currently the President of Purthanol Ltd. is appointed as President and Director of Global Biotech Corp. A finalized agreement to be signed within the following 2 weeks.

Global Biotech Corp. (OTCPK:GBIQ) completed the acquisition of the assets of Purthanol Ltd. for $0.7 million on September 11, 2013. As part of consideration, Global Biotech issued its treasury shares valued at $0.7 million. Global Biotech also acquired purchase orders of $28.5 million for the purchase of ethanol or Athanol from Purthanol International, delivery within the ensuing 12 months.