General European Strategic Investments Inc. Announces 5 Million Pound Acquisition of a 49%-Interest in ColdPro LTD.

Las Vegas, Nevada--(Newsfile Corp. - March 14, 2022) - General European Strategic Investments Inc. (OTC Pink: GESI) is pleased to announce a binding commitment to acquire a 49%-interest in ColdPro LTD. (ColdPro), a private UK company specialising in waste management in the UK for total consideration of £5 million.

  • ColdPro is a licensed UK-based integrated waste management business, and one of only six regulated approved authorised treatment facilities in the UK.
  • The 49%-interest is being acquired from United General LTD, which will retain a 51%-interest in ColdPro.
  • The consideration will be comprised of a US$500,000 payable in cash with the balance satisfied through the issuance of 7,500,000 restricted common shares of GESI or through cash, at GESI's election. The initial cash payment is due within six-months of the signing of this agreement.

Wolfgang Rauball, Director & CEO of GESI said, "We are excited for the opportunity to invest in ColdPro at such a critical time for the Company's expansion and are pleased to support its outstanding team as they continue to building the company organically."

Adeel Ahmed, operations Director at ColdPro said, "We are delighted to join the GESI family and to receive GESI's anticipated support in expanding our facilities to better service our growing customer base."

About ColdPro LTD.

ColdPro holds an Approved Authorised Treatment Facility (AATF) license, which puts the company in direct competition with Biffa PLC (BIFF.L) a £1.6 billion company and Sims Metal a £4 billion company (SGM.AX), as the only other public licensed waste treatment companies in the UK waste sector.

Following the closing of the acquisition, United General Ltd. and GESI will coordinate a strategic investment in ColdPro, which will be used to support the hiring of additional staff to keep up with growing demand and for the expansion its equipment and overall operations.

The Company operates across the breadth of the waste management value chain, including the collection, treatment, processing and re-sale of waste and recyclable materials, and the sale of recovered commodities, such as whole refrigerators and metals in the UK. ColdPro provides recycling services to sub-licensed recycling firms servicing the entire refrigeration industry.

By law in the UK all refrigerators must be recycled by a AATF Licensed company and cannot be disposed of through scrapping or landfilling refrigeration equipment. ColdPro is one of only three firms licensed for this activity in the entire UK and is one of only a small number of such companies globally licensed to process, refurbish and resell refrigerators legally.

ColdPro's customer base for these services includes local recycling and resale firms throughout the UK and entire EU regions, who's services are used by large corporates, small and medium sized enterprises, and purchasers of end product commodities.

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Wolfgang Rauball

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Wolfgang Rauball,
Director & CEO General European Strategic Investments Inc.
+44 785 197 9281

General European Strategic Investments Inc. ("GESI") is a US OTC listed company holding significant interests in Tier-1 and district-scale projects in Eastern Europe.

https://generaleuropeanstrategicinvestments.com/

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