VANCOUVER, B.C., Aug. 19, 2002 (PRIMEZONE) -- Globetech Ventures Corporation (OTCBB:GTVCF) has entered into a Lease Agreement with Western Hemisphere Resource Exploration Ltd. of London, England, the parent company of Broken Hill Minerals Ltd. of Zambia whereby Globetech Ventures Corporation will be receiving a fixed monthly revenue for the lease of its Kabwe facility located in Kabwe, Zambia. Western Hemisphere Resource Exploration Ltd. and BHM have the right to purchase the plant within two years of the effective date of this lease agreement.
Broken Hill Minerals Ltd. commenced a successful pre-trial run at the plant on Tuesday, August 13, 2002.
On behalf of the Board of Directors GLOBETECH VENTURES CORPORATION
Dil Gujral President
Except for the historical information presented herein, the matters set forth in this press release are forward looking statements within the meaning of the "safe-harbor" provision of the Private Securities Litigation reform Act of 1995 and section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements speak only as of the date hereof. The Company disclaims any intent or obligation to update these forward-looking statements. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially. Although such statements are based on reliable information and past experience, operating results are affected by variety of factors, many of which are beyond the control of the Company. Risk factors and uncertainties effecting actual performance of the Company include quarterly results, sales, customer order patterns, labor, supplies, equipment, technological changes, competition and competitive pressures on pricing; economic conditions in the United States and worldwide, as well as other risks that are detailed from time to time in the Company's filings with the Securities and Exchange Commission.
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