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GSAE PR -August 27, 2008 - 9:18 AM EDT
Green Star Alternative Energy Signs Letter of Intent to Acquire European Wind Power Company
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
FORWARD-LOOKING STATEMENTS
This press release contains 'forward-looking statements.' These are statements concerning plans, objectives, goals, strategies, expectations, estimates, intentions, projections, developments, future events, or performance, underlying (expressed or implied) assumptions and other statements that are other than historical facts. In some cases forward-looking statements can be identified by the use of forward-looking words such as 'believes,' 'expects,' 'may,' 'will,' 'should,' or 'anticipates,' 'estimates,' or the negative of these words or other variations of these words or comparable words, or by discussions of plans or strategy that involve risks and uncertainties. Management wishes to caution the reader that these forward-looking statements, including, but not limited to, statements regarding the Company's plans, goals the estimates and assumptions, and the business strategy of the Company and other matters that are not historical facts are only predictions. No assurances can be given that such predictions and the estimates regarding mineral reserves, success of mining plans, or other projections will prove correct or that the anticipated future results will be achieved. Actual events or results may differ materially. Forward-looking statements should be read in light of the cautionary statements and risks that include, but are not limited to, the risks associated with a small company, the intense competition the company faces from others, and technological changes. Any one or more of these or other risks could cause actual results to differ materially from the future results indicated, expressed, or implied in such forward-looking statements.
For further information contact: info@greenstarae.com
Green Star Alternative Energy, Inc.
Jesse De Castro, CFO, 619-497-2555
Source: Business Wire (August 27, 2008 - 9:18 AM EDT)
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