New Global Energy, Inc. (OTCBB:NGEY) signed a memorandum of understanding to acquire Global Energy Technology Group, Inc. on November 2, 2013. Under the terms of transaction, 100% of Global Energy Technology Group's shares shall be exchanged for common shares of New Global Energy. The surviving Entity will be domiciled in the state of Wyoming.

The transaction is subject to approval of shareholders of both New Global Energy and Global Energy Technology.