AMERICATOWNE POS AM Prospectus update (post-effective amendment)

STOCKPURCHASEANDSALEAGREEMENT

THISSTOCKPURCHASEANDSALEAGREEMENT(“Agreement”)iseffectiveasofthe2^nd dayofJune,2016 (the “Effective Date”),byandbetweenJosephArcaro(“Seller”),anindividualwithanoticeaddressof 22837PacificCoastHighway,Suite632,Malibu,CA90265,andAmericaTowne,Inc.aDelawarecorporation,or its designee or assign,with a notice address at 4700 Homewood Court, Suite 100, Raleigh, North Carolina 27609 (“Buyer”).

WHEREAS,SellerownsONEHUNDREDMILLION(100,000,000)restrictedsharesof commonstock(the"Shares")ofGlobalRecycleEnergy,Inc.,(OTCPinkGREI)aNevadacorporation(the"Company").ThisAgreementprovidesfortheacquisitionoftheSharesbyBuyer, in a private transaction whereby Buyer intends on holding the shares acquired in its account for its own benefit and not with the intent of public resale or distribution,foratotal purchasepriceofONEHUNDREDSEVENTYFIVETHOUSANDU.S.Dollars($175,000.00)(the “PurchasePrice”)on theterms andconditionsset forthbelow.

WHEREAS,SellerandBuyerhavedetermined,subjecttothetermsandconditionssetforthin thisAgreement,thatthetransactioncontemplatedherebyisdesirableandinthetheirbestinterests,respectively.

NOW, THEREFORE,onthestatedpremisesandforandinconsiderationofthemutualcovenantsandagreementshereinaftersetforthandthemutualbenefitstothepartiestobederivedhere from,itisherebyagreedasfollows:

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ARTICLEI

SALEANDPURCHASEOFTHESHARES

Section1.1SaleandPurchase.Subjecttothetermsandconditionshereof,attheClosing(asdefinedinparagraph1.2below),Selleragreestosell,assign,transfer,conveyanddelivertoBuyerorBuyer’sassignee,andBuyeragreestopurchasefromSeller,theShares. The Shares and the Purchase Price, as defined below, are to be transferred and paid, respectively, through the Escrow Agent pursuant to the terms and conditions of the Escrow Agreement, which is incorporated herein by reference.

Section1.2Closing.ThepurchaseoftheSharesshallbeconsummated at a closing ("Closing") to take place on or before June 6, 2016, unless otherwise agreed upon by the parties in a writing signed by the parties (the"ClosingDate").The PurchasePricefortheSharesshallbepaidonorbeforetheClosingDate,byBuyertoSeller, through the Escrow Agent,bywire transferorotherformofimmediatelyavailablegoodfundsagainstdeliveryoftheShares, through the Escrow Agent,intransferable formfromSellertoBuyerorBuyer’sassignee,providedtofacilitatetheClosing.

ARTICLEII

REPRESENTATIONS,COVENANTSANDWARRANTIES

AsaninducementtoandtoobtaintherelianceofBuyer,SellerindividuallyrepresentsandwarrantstoBuyerasfollows:

    Section2.1NoConflict,Authority,IssuedShares.TheexecutionofthisAgreementandtheconsummationofthetransactionscontemplatedbythisAgreementwillnotresultinthematerial breachofanytermorprovisionof,orconstituteaneventofdefaultunder,anymaterialdebtinstrument,whichmayincludeanindenture,mortgage,deedoftrustorothercontract,agreementorinstrumentto whichSellerisapartyortowhichtheSharesaresubject.Sellerhasfullpower,authorityandlegalrightandhastakenallactionrequiredbylaworotherwisetoauthorizetheexecutionanddeliveryofthis Agreement.TheCompanyisauthorizedtoissueuptotwohundredfiftymillion(250,000,000)sharesof commonstock.

Section2.2TitletotheShares;NoPendingLitigation.Sellerownsof recordandbeneficiallytheSharesoftheCompany,freeandclearofallliens,encumbrances,pledges,claims,options, charges andassessments of anynaturewhatsoever, withfull right andlawful authority totransfertheSharestoBuyer.NopersonhasanypreemptiverightsorrightsoffirstrefusalwithrespecttoanyoftheShares.Thereexistsnovotingagreement,votingtrust,oroutstandingproxywithrespecttoanyofthe Shares. OtherthandisclosedbytheSellertothe Buyer,therearenooutstandingrights,options,warrants, calls, commitments, or any other agreements of anycharacter, whether oral or written, with respect to theShares. ToSeller’s actual knowledge, there is no pending or threatened complaint, suit, demand or other dispute relating to the Shares or theCompany. The Company is validlyexisting and in good standingunderthelawsoftheStateofNevada,andholdsaNevadaStateBusinesslicense.The Company is in full compliance with the March 27, 2015 order issued by the District Court in Clark County, Nevada (Case No. A-15-712031-B). The Company has no assets and no liabilities beyond those liabilities set forth in Schedule A, which the Seller shall direct the Escrow Agent to pay off at Closing.

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Section2.3BrokersandFinders.TheSellerrepresentsandwarrantsthathe/she/ithasmadenoagreementsinvolvinganyfeesofanytypethatrelatetothisAgreementthatwouldinvolvetheBuyer,includingbutnotlimitedtobroker’sfee,finder’sfeesoranysimilarcompensationarrangement.

Section 2.4Continued Operation of Business in Usual Course.The Seller agrees to exercise his controlling shares in the Company to operate the business of the Company in the usual course; however, the Seller agrees not to incur any additional liabilities between the Effective Date and Closing, and agrees not to issue any securities of the Company without the written consent of the Buyer.

AsaninducementtoandtoobtaintherelianceofSeller,BuyerindividuallyrepresentsandwarrantstoSellerasfollows:

Section2.5NoConflict,Authority.TheexecutionofthisAgreementandtheconsummationofthetransactionscontemplatedbythisAgreementwillnotresultinthematerialbreachofanytermor provisionof,orconstituteaneventofdefaultunder,anymaterialdebtinstrument,whichmayincludeanindenture,mortgage,deedoftrustorothercontract,agreementorinstrumenttowhichBuyerisaparty.Buyer has fullpower, authority and legal right and has taken all action required by law or otherwise toauthorize the execution and delivery of this Agreement.

Section2.6RestrictedShares.BuyeracknowledgesthattheSharespurchasedhavenotbeenregisteredundertheSecuritiesActoranystatesecuritieslaws,willbeissuedinrelianceuponan exemptionfromtheregistrationandprospectusdeliveryrequirementsoftheActwhichrelatetoprivateofferings,willbeissuedinrelianceuponexemptionsfromtheregistrationandprospectusdeliveryrequirements of state securities laws which relate to privateofferings and the Buyer must therefore bear the economicriskofsuch investmentindefinitelyunlessa subsequentdispositionthereofis registered under the Act and applicable state securities laws or is exempt therefrom.Buyer acknowledges that the shares shall bear restrictive legends. Buyer further represents that the Shares are being purchased for its own account, pursuant to consents and resolutions of its Board of Directors, without the intent to resell to the public absent an exemption to registration or registration of the Shares.

Section2.7Buyer’sSophistication.Buyer(i)acknowledgesthatthepurchaseofSharesinvolvesahighdegreeofriskinthattheCompanyhaslimitedbusinessoperationsandmayrequire substantialfunds;(ii)aninvestmentintheCompanyishighlyspeculativeandonlyinvestorswhocanaffordthelossoftheirentireinvestmentshouldconsiderinvestingintheCompanyandtheShares;(iii)hassuchknowledgeandexperienceinfinance,securities, investments,includinginvestmentinnon-listed andnonregisteredsecurities,andother businessmatterssoastobe abletoprotectitsinterestsin connectionwiththistransaction;(iv)thatthesaleoftheShares toBuyerisnotregisteredwiththeU.S. Securities and Exchange Commission or with the securities administrator of any state; (v) that the Shares arebeingsoldpursuanttoanexemptionfromsuchregistrationrequirements;and(vi)theSharesare “restricted securities” that will bear a restrictive legend prohibiting their further transfer without registration or any exemption therefrom.

Section2.7DueDiligenceMaterialsProvided.Buyeracknowledges that Seller hasprovidedBuyerprovidedBuyerwithtrueandaccuratecopiesofallcorporatebooksandrecordsrelating totheCompanyinSeller’spossessionorcontrol.BuyeracknowledgesthatSellerhasonlyrecentlybecomethecontrollingshareholderoftheCompanyandhasobtainedcontroloftheCompanythrough courtprocesswhich,byitsnature,providesSellerwithonlyvery limitedinformationregardingtheCompany, itshistory, its financial condition and any potential debts, obligations, liabilities or other claims. Buyer understands that there may be significant obligations, claims or other obligations against the Company of which the Seller is unaware that would make the Company unsuitable for the business operations therein contemplated byBuyer, and Buyer expressly assumes such risk.

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ARTICLEIII

 EXCHANGE PROCEDUREANDOTHERCONSIDERATION

Section3.1Seller’sDelivery.OntheClosingDate,theSellershalldeliverthefollowingtoBuyer,conditionedupon(i)allofBuyer’srepresentationsandwarrantiessetforthinSection2,above,shallbetrueandcorrectasoftheClosing,and(ii)Buyer’sperformanceofitsdeliveryobligationsinsection3.2,below:

(a) TheSharestogetherwithastockpowerorotherinstructionrequiredforthetransferof theSharestoBuyer.Anindemnificationwillbeusedandisapprovedby Pacific StockTransferinlieuofmedallion.Ifnecessary,aftertheClosing,theSellershallalsoexecutesuchothercertificatesorotherdocumentsreasonablynecessarytotransferthe SharestoBuyer.

(b) An updated list of shareholders as of Closing.

(c)WrittenconsentfromtheCompany’sboardofdirectors or shareholders, consistent with the Company’s Bylaws and Articles of Incorporation approving this Agreement and the transaction contemplated hereunder, andappointingBuyer’sdesignee(s)totheboardofdirectors,effectiveuponClosing.

(d) WrittenresignationfromallmembersoftheCompany’sboardofdirectorsexceptingonlyBuyer’sdesignee,effectiveuponClosing.

(e) AwrittenresignationfromallofficersoftheCompany,effectiveuponClosing.

(f) Final payoff letters from those vendors identified on Schedule A.

(g) Any required notifications provided to FINRA, SEC or OTC Markets Group.

(h) Executed Indemnification and Hold Harmless Agreement related to the Oil Lease.

(i) Assignment between the Company and Arcaro regarding the transfer of the Oil Lease.

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Section3.2Buyer’sDelivery.OntheClosingDate,BuyershalldeliverthefollowingtoSeller,conditionedupon(i)allofSeller’srepresentationsandwarrantiessetforthinSection2,above,shallbetrueandcorrectasoftheClosing,and(ii)Seller’sperformanceofitsdeliveryobligationsinsection3.1,above:

(a) PurchasePriceingoodfundstotaling$175,000 through the Escrow Agent.

(b) Aconsent/resolution from the Buyer’s Board of Directors appointing nominees to serve on the Board of Directors of the Company effective immediately upon Closing, and appointment of officers pursuant to the Company’s Bylaws. The consent/resolution will also include (i) approval and ratification of the Buyer’s obligations under this Agreement, (ii) mailing address for each director and officer appointed by Buyer, (iii) identification of the Company’s new registered agent, and (iv) any other corporate matters associated with the Company’s ongoing business.

ARTICLEIV

MISCELLANEOUS

Section4.1NotificationofPinkOTCMarkets,Inc.andNevadaSecretaryofState.Buyershall,notlaterthanforty-eight(48)hoursfollowingtheClosing,takethefollowingactions:

(a) NotifyOTC Markets Group,bothviacertifiedletterandbyaccesstothewebsite sectionofwww.otcmarkets.comestablishedforthispurpose,ofthenewaddressandregisteredagentfortheCompany,thenewdirector(s)and officers oftheCompany,includingitsPresident. Buyer shall be responsible for any and all costs associated with this notification.

(b) NotifytheNevadaSecretaryofState,byfilinganamended annuallistofofficersanddirectorsandbyamending its articles of incorporation in changingits residentagentnotification,ofthenewaddressandresidentagentfortheCompany,thenewdirector(s)oftheCompanyandthenewofficersoftheCompany,includingitsPresident.Buyershallpromptlypayanyfeesassociatedwiththesefilings.

(c) ConfirmtoSellerinwritingviacertifiedlettertoSeller,andbyprovidingcopiesofthenoticesandfilingsprovidedtoOTCMarkets Group andtheNevadaSecretaryof StatethatBuyerhasperformeditsobligationspursuanttosections4.1(a)and(b),above. ShouldBuyerfailtoperformaccordingtothisSection4.1,Buyerexpresslyauthorizes SellertoprovidethenoticesandfilingscontemplatedbythisSection4.1,andBuyer agreestopromptlyreimburseSellerforallexpensesrelatedthereto,includingfilingfees andattorney’sfeesactuallyincurred.

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Section4.2Notices.Anynoticesorothercommunicationsrequiredorpermittedhereunder shallbesufficientlygivenifpersonallydeliveredtoitorsentbyregisteredmailorcertifiedmail,postageprepaid,orbyprepaidtelegramaddressedtotheaddressessetforthinthisAgreementorsuchother addressesasshallbefurnishedinwritingbyanypartyinthemannerforgivingnoticeshereunder,andanysuchnoticeorcommunicationshallbedeemedtohavebeengivenasofthedatesodelivered,mailed ortelegraphed.

Section4.3Attorneys'Fees.Exceptasexpresslyprovidedherein,eachpartywillbe responsiblefortheirownattorney’sfees.

Section4.4Confidentiality.Eachpartyheretoagreeswiththeotherpartythat,unlessand untilthetransactionscontemplatedbythisAgreementhavebeenconsummated,theyandtheir representativeswillholdinstrictconfidencealldataandinformationobtainedwithrespecttoanother partyoranysubsidiarythereoffromanyrepresentative,officer,directororemployee,orfromanybooksorrecordsorfrompersonalinspection,ofsuchotherparty,andshallnotusesuchdataorinformationor disclose the same to others, except:(i) to the extent such data is a matter of public knowledge or is requiredbylawtobepublished;and(ii) totheextentthatsuchdataorinformationmustbeusedor disclosed in order to consummate the transactions contemplated by this Agreement. Notwithstanding, Seller authorizes Buyer to disclose any confidential information related to the Company and this Agreement to the extent necessary in Buyer’s disclosure requirements as a reporting company under the rules promulgated by the United States Securities and Exchange Commission, and in the event Buyer elects to exercise its controlling interest in the Company after the Closing to become subject to the reporting requirements for public companies.

Section4.5ThirdPartyBeneficiaries.This contract is betweenSeller andBuyer.Nootherpersonorentityshall bedeemedtobeathirdpartybeneficiaryofthisAgreement.

Section4.6EntireAgreement.ThisAgreement, and the Escrow Agreement,representstheentireagreementbetweenthepartiesrelatingtothesubjectmatterhereof.ThisAgreementalonefullyandcompletely expressesthe agreementofthepartiesrelatingtothesubjectmatterhereof.Therearenoothercoursesofdealing, understanding,agreements,representationsorwarranties,writtenororal,exceptassetforthherein.This Agreementmay notbeamendedormodified,exceptbyawrittenagreementsignedbyallpartieshereto.

Section4.7Survival;Termination.Therepresentations,warrantiesandcovenantsoftherespectivepartiesshallsurvivetheClosingDateandtheconsummationofthetransactionsherein contemplatedwithintheapplicablestatuteoflimitations.

Section4.8Counterparts.ThisAgreementmaybeexecutedinmultiplecounterparts,each ofwhichshallbedeemedanoriginalandallofwhichtakentogethershallbebutasingleinstrument.

Section4.9AmendmentorWaiver.Everyrightandremedyprovidedhereinshallbecumulativewitheveryotherrightandremedy,whetherconferredherein,atlaw,orinequity,andmaybeenforcedconcurrently herewith, and nowaiver by any partyof the performance ofany obligation by the other shall be construed as a waiver of the same or any other default then, theretofore, or thereafter occurring or existing. At any time prior to the Closing Date, thisAgreement may be amended by a writing signed by all parties hereto, with respect to any of the terms contained herein, and any term or conditionof this Agreement maybe waived orthe time forperformance hereof maybe extended bya writingsignedbythepartyorpartiesforwhosebenefittheprovisionisintended.

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Section4.10Expenses. Eachpartyhereinshallbearalloftheirrespectivecostsandexpenses incurredinconnectionwiththenegotiationofthisAgreementandintheconsummationofthe transactionsprovidedforhereinandthepreparationthereof.

Section4.11Headings;Context.TheheadingsofthesectionsandparagraphscontainedinthisAgreementareforconvenienceofreferenceonlyanddonotformaparthereofandinnoway modify,interpretorconstruethemeaningofthisAgreement.

Section4.12Benefit.ThisAgreementshallbebindinguponandshallinureonlytothe benefitofthepartieshereto,andtheirpermittedassignshereunder.ThisAgreementshallnotbeassignedbyanypartywithoutthepriorwrittenconsentoftheother party.

Section4.13Severability.Intheeventthatanyparticularprovisionorprovisionsofthis Agreementortheotheragreementscontainedhereinshallforanyreasonhereafterbedeterminedtobe unenforceable,orinviolationofanylaw,governmentalorderorregulation,suchunenforceabilityorviolationshallnotaffecttheremainingprovisionsofsuchagreements,whichshallcontinueinfullforceandeffectandbebindingupontherespectivepartieshereto.

Section4.14No Strict Construction.Thelanguage of thisAgreement shall be construed asa whole,accordingtoitsfairmeaningandintendment,andnotstrictlyfororagainsteitherpartyhereto, regardlessofwhodraftedorwasprincipallyresponsiblefordraftingtheAgreementortermsorconditions hereof.

Section4.15ExecutionKnowingandVoluntary.InexecutingthisAgreement,thepartiesseverallyacknowledgeandrepresentthateach:(a)hasfullyandcarefullyreadandconsideredthis Agreement; (b) has been or has had the opportunity to be fully apprised by its attorneys of thelegaleffectandmeaningofthisdocumentandalltermsandconditionshereof; (c)isexecutingthisAgreementvoluntarily, free from anyinfluence, coercion or duressof any kind.

Section4.16FurtherAssurances,Cooperation.Eachpartyshall,uponreasonablerequest bytheotherparty,executeanddeliveranyadditionaldocumentsnecessaryordesirabletocompletesalecontemplatedbythisAgreement.Thepartiesheretoagreetocooperateandusetheirrespective reasonablebesteffortstoconsummatethetransactionscontemplatedbythis Agreement.

Section4.17GoverningLaw.ThisAgreementshallbeconstrued(bothastovalidityandperformance)andenforcedinaccordancewithandgovernedbythelawsofthestateofNevadaapplicable toagreementsmadeandtobeperformedwhollywithinsuchjurisdictionandwithoutregardtoconflicts oflaws.AnydisputearisingoutofthisAgreementshallberesolvedinthestateorfederalcourtssitedin ClarkCounty,Nevada,totheexclusionofallothervenues.Theprevailingpartyinanysuchactionshallbeentitledtoanawardofcostsanditsreasonableattorneys’ fees.

Section 4.18Conflict Disclosure and Waiver.The Seller acknowledges that the law firm of Paesano Akkashian Apkarian, P.C. (the “Firm”) represents the interests of the Buyer in this transaction. The Seller has not sought, or been given, legal advice from the Firm. The Seller has been advised of the conflict of interest in the Firm serving as counsel for the Buyer and as Escrow Agent under the Escrow Agreement, as more thoroughly set forth in the Escrow Agreement, and has knowingly and willingly waived any conflict of interest after having sufficient opportunity to evaluate the conflict.

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INWITNESSWHEREOF,thepartiesheretohavecausedthisAgreementtobeexecutedasofthedatefirstabovewritten.

Seller /s/Joseph Arcaro	Buyer /s/Alton Perkins AltonPerkins CEO,ChairmanoftheBoard AmericaTowne,Inc.
JosephArcaro President GlobalRecycleEnergy,Inc.
AddressofSellerforNotices: JosephArcaro 22837PacificCoastHighway Suite632 Malibu,CA90265	AddressofBuyerforNotices: AltonPerkins 4700HomewoodCourt Suite100 Raleigh,NorthCarolina27609 Copy to: Paesano Akkashian Apkarian, P.C. c/o Anthony R. Paesano 7457 Franklin Road Suite 200 Bloomfield Hills, MI 48301

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Schedule A

Liabilities to be Paid at Closing

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