Global Earth Energy Inc. (OTC: GLER) shares are seeing a huge rally in today�s trading. The penny stock reached a high of $0.02 in early trading, and at last check, it was up 100% to $0.0100, with volume up from daily average of 2.47 million to 35.88 million.
The penny stock of Global Earth Energy is soaring after the company today announced that it signed a joint venture partnership with GFC 2005 LLC, a coal mining concern. The company said that deal includes the mining and sale of 1,000,000 tons of coal per year for the next five years at per tonnage price of around $100 per ton.
Global Earth Energy will have a 30% stake in the joint venture. The company said that the total gross revenue from the venture is expected to be around $500 million over the next five years. Additionally, the company said that it received a purchase order from Wins International Company Ltd, a South Korea-based company. The purchase order is for 5 million tons of coal.
Global Earth Energy also said that it will bring on a new board of advisors to the company, which will include experts in the field of coal, green energy, money management and life settlements to better assist the company in its future ventures.
Global Earth Energy offers renewable energy solutions. The company is also pursuing joint venture agreements with green solution providers globally. The company is based in Wilmington, North Carolina.
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