Green Energy Resources Update
Jun 9, 2010 17:22:46 (ET)
NEW YORK, Jun 9, 2010 (GlobeNewswire via COMTEX) -- Green Energy Resources (Pink Sheets:GRGR), thirty days after its offer to distribute woodchips in the gulf, has not received deployment nor a contract to distribute woodchips. Efforts are ongoing according to Patriot Energy Services as the lead contact with various government agencies. Green Energy Resources, while it has received several recent LOI's from various clients, has not to date received a final contract to export the woodchips. Letters of Intent are never a guarantee of business nor intended as such; they are only a snap shot of the company's ongoing efforts. Escalating freight rates, as evidenced by the Baltic Dry index and the steep decline in the Euro against the dollar, may be inhibiting factors. Negotiations remain ongoing.
In an effort to ensure accuracy of information, the company is currently reviewing all press releases and financial statements . Any necessary updates will be released as soon as a review is completed. The company does not at any time solicit investors nor has it ever. In the past the company conducted a 504 capital raise but will discontinue the practice in compliance with SEC wishes.
Except for historical information contained herein, the statements in this release are forward-looking statements that are made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties that may cause the companies' actual results in future periods to differ materially from forecasted results. Such risks and uncertainties include, but are not limited to, market conditions, competitive factors, the ability to successfully complete additional financings,ship availability, fuel costs and other risks. The above news is not a solicitation. Green Energy Resources does not solicit any investor to buy or sell shares of the company in any state in the country. News releases are for company informational purposes only.
This news release was distributed by GlobeNewswire, www.globenewswire.com
SOURCE: Green Energy Resources
