GESI Completes Escrow Milestone for Plant Funding by Private Escrow Capital Raise
2012年8月10日 - 10:00PM
ビジネスワイヤ（英語）
Green Energy Solution Industries, Inc. (PINKSHEETS: GESI)
announced today that it has reached a milestone for its funding
source for the capital investment of money for the state of the art
renewable energy plant in Alberta Canada, by recently achieving the
raise of escrow money required for the funding through a private
raise from parties through investment from private parties.
Per the agreement with InREFCo for the funding, GESI made the
raise of necessary capital for placement into escrow to further
make the delivery of funds from the source for the $45 million
plant in accord with the funding plan. GESI was able to raise the
necessary escrow clearance funds through private placement of
restricted shares to long term investors. The funds will be held in
escrow under the capital investment agreement until delivery terms
and delivery of the first funds occurs. Under the agreement with
InREFCo, the full funding terms have been met for the guarantee
terms and provision of funding as previously announced by GESI.
GESI expects that there will be announcement in the short term
of funding and timeline for the plant build out utilizing waste
rail ties
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About GESI Green Energy Solution Industries, Inc. is a project
developer for renewable energy projects in Canada. Utilizing
in-depth due diligence, GESI has developed business plans,
contracts and agreements with resource providers, land owners,
waste sources, technology providers, and government entities for
the placement of renewable energy projects. GESI is now a public
company with administrative offices in Houston, Texas and
operations in Alberta, Canada. For More Information on GESI see the
web site at www.gesienergy.com
The foregoing press announcement contains forward-looking
statements that can be identified by such terminology such as
"believes," "expects," "potential," "plans,"" projected,"
"suggests," "may," "should," "could," "intends," or similar
expressions. Such forward-looking statements involve known and
unknown risks, uncertainties and other factors that may cause the
actual results to be materially different from any future results,
performance or achievements expressed or implied by such
statements. In particular, management's expectations could be
affected by, among other things, uncertainties relating to our
success in completing acquisitions, financing our operations,
entering into strategic partnerships, engaging management and other
matters disclosed by us in our public filings from time to time.
Forward-looking statements speak only as to the date they are made.
The Company does not undertake to update forward-looking statements
to reflect circumstances or events that occur after the date the
forward-looking statements are made.
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