General European Strategic Investments Inc. Files Additional Criminal Charges Against Austrian Building Materials Tycoon Robert Schmid and Provides update on ICSID Proceedings

Las Vegas, Nevada--(Newsfile Corp. - August 11, 2022) - GENERAL EUROPEAN STRATEGIC INVESTMENTS INC. (OTC Pink: GESI) (the "Company or GESI") is pleased to announce that EuroGas GmbH Austria, has filed additional criminal accusations against Austrian building material tycoon, Robert Schmid, with the Anti-Corruption General Attorney's Office of Austria ("WKStA").

  • EuroGas GmbH Austria, a company within the EuroGas Group, has been mandated by EuroGas Inc., whose legal corporate assets are 80% owned by GESI.
  • EuroGas GmbH Austria has asked WKStA for a review of these additional criminal allegations brought forward by EuroGas GmbH against Robert Schmid, his companies, directors and company solicitors.
  • This latest filing of further criminal accusations against Robert Schmid and his Austrian building material empire, Schmid Industrieholdings GmbH, by EuroGas GmbH is in addition to the filing of previous criminal accusations filed by Rozmin s.r.o, the former Slovakian mining arm of the US based EuroGas Inc., with the Attorney General's Office of the Slovak Republic on June 14, 2022.
  • Preparations for new International Centre for Settlement of Investment Disputes (ICSID) Arbitration proceedings against the Slovak Republic are underway.
  • EuroGas Inc. also reports that its solicitors have recently informed the World Bank's ICSID Department in Washington D.C. of its intent to commence a new Arbitration case against the Slovak Republic.
  • EuroGas Inc. has also purchased and received from the ICSID various electronic transcript files from EuroGas Inc.'s previous ICSID Arbitration proceedings against the Slovak Republic.

Wolfgang Rauball, Director and CEO of GESI states: "We are delighted to report to our shareholders that we are moving ahead on all legal fronts, including preparations for new ICSID Arbitration proceedings against the Slovak Republic."

Forward-Looking Statements:

This release includes "forward-looking statements," such statements include any that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words "estimate", "project", "intend", "forecast", "anticipate", "plan", "planning", "expect", "believe", "likely", "should", "could", "would", "may" or similar words or expressions. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the Company's actual results and financial position to differ materially from those in such statements, which involve risks and uncertainties, including those relating to the Company's ability to grow. Actual results may differ materially from those predicted and any reported should not be considered an indication of future performance. Potential risks and uncertainties include the Company's operating history and resources, together with all usual and common economic, competitive, and equity market conditions/risks.

Robert Seguin, V.P., Investor Relations
General European Strategic Investments Inc.

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