Green Star Alternative Energy Signs Letter of Intent to Acquire European Wind Power Company
Last update: 9:15 a.m. EDT Aug. 27, 2008
SAN DIEGO, Aug 27, 2008 (BUSINESS WIRE) -- Green Star Alternative Energy, Inc. (Pink Sheets: GSAE) is pleased to announce the signing of a Letter of Intent with both Notos d.o.o. and Sirius Regulus d.o.o. The LOI outlines the bases for the acquisition of these privately held Serbian companies.
Green Star's management believes this merger to be an ideal step in fulfilling the new corporate strategy. It provides the company with a strong energy development presence in Europe that will lead to rapid expansion in the region. There are three divisions within the Notos framework -- Notos Wind Energy, Notos Agri, and Notos Power Trading. This precise system of asset integration affords superior efficiency and greater profitability. Notos is the operations arm while Sirius Regulus is the holder of the land used for the various projects constructed by its sister company Notos.
Notos Wind Energy specializes in the creation of electricity from wind energy. With projects currently scheduled for development, Notos is an important participant in the alternative energy sector. The concentrated experience of Notos' management team and advisory board has allowed Notos significant penetration into a burgeoning and profitable industry. Notos Agri is the agricultural department for Notos. It uses the real estate assets, which house the wind turbines, for the farming of various products from corn, wheat, raspberries, and cattle. Notos Power Trading is the energy trading division for Notos. It is one of only a few licensed companies permitted to trade electrical power into and out of the Republic of Serbia, and the only entity which will have its own electricity (through Notos Wind Energy) available for trade.
"We look forward to making Green Star Alternative Energy a company of prominence and environmental integrity. It will be the first company in Serbia to make use of clean wind energy to produce ecologically friendly electricity. We are in a position to become an influential presence in the green energy industry and I appreciate the opportunity to lead Green Star towards this bright and beneficial future."
- Miodrag Andric, President Notos
"Green Star Alternative Energy is in the right place by taking part in this emerging clean energy market. This is a fantastic opportunity and the acquisition of Notos and Sirius Regulus will provide solid growth in shareholder value. The financial outlook for this company is noteworthy."
- J. M. De Castro, CFO Green Star
I couldn't possibly think as slow as you if I TRIED.
“Bears make money, bulls make money, but pigs get slaughtered.”
