GEEX/SEM Amended Joint Venture Agreements (Financing)

GEEX/SEM Amended Joint Venture Agreements (Financing) 


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.

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 containedin 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. 

DATASOURCE: GL Energy and Exploration, Inc.



CONTACT: Ray Johnson, 1-866-639-3900

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