NEW GLOBAL ENERGY, INC. (OTCMKTS:NGEY) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement.

New Global Energy, Inc. (the “Company”) through its subsidiary Aqua Farming Tech, Inc. (“AFT”) entered into a Promissory Note Secured by a Deed of Trust (“Loan Facility”) by and among the Company, AFT and other persons party thereto from time to time as guarantors with California Real Estate Opportunity Fund LP, as lender (“Lender”). The Loan Facility, first dated August 28, 2017 provides for the loan of US$2,400,000.00 to be used to pay off the existing Deed of Trust with First General Bank, certain other obligations recorded against the property , for capital improvements and for working and expansion capital for the Company’s aquaculture and agriculture operations.

The Loan is payable with interest on the unpaid principal balance at the annual rate of 13.000%. Interest is payable monthly with the remaining balance of principal and interest due March 1, 2019. The Loan Facility is in the name of AFT with the Company and two individuals as guarantors.

The Loan Facility contains representations and warranties and affirmative and negative covenants that are usual and customary. Obligations under the Loan Facility may be accelerated upon certain customary events of default subject to grace periods, including non payment of principal, interest or fees; breach of affirmative or negative covenants.

The foregoing description of the Loan Facility does not purport to be complete and is qualified in its entirety by reference to the complete text of such agreements, copies of which are filed as exhibits hereto.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of the Registrant.

The disclosure required by this item is included in Item 1.01 above and is incorporated herein by reference

Item 9.01 Financial Statement and Exhibits

New Global Energy, Inc. Exhibit
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To view the full exhibit click here

About NEW GLOBAL ENERGY, INC. (OTCMKTS:NGEY)

New Global Energy, Inc. is a sustainable agriculture and aquaculture company. The Company focuses on the use of technology and farming techniques. The Company focuses on the development of its Global Energy Plantation (GEP) using its Global Cell concept, which combines alternative energy production, sustainable agriculture and aquaculture. It intends to utilize non centralized solar panels to produce power for its own use and to feed into the power grid serving local power needs. The Global Cell is being designed to be a standalone operational cell where nothing enters the cell wall except sunlight, water and feedstock. It is designed for waste material to be used onsite for various applications, such as Fish tank effluent, including plant irrigation and fertilization; Aquaculture Products, such as Food Fish for Market and Fish Feed from processing wastes, and Value Chain Services, such as Grower Purchase Contracts, Management Planning and Operations, and Harvesting and Processing.