$GESI Announces Major Development for $45 Million Funding of its Alternative Energy Project on StockTradersTalk.com Radio Show
VANCOUVER, British Columbia--(BUSINESS WIRE)--Green Energy Solution Industries, Inc. (PINKSHEETS: GESI) announced today that its CEO Gordon MacKay appeared on www.StockTradersTalk.com Radio show on July 12, 2012, and that essential terms for the funding over $45 million for the full build out of its state of the art renewable energy plant utilizing waste rail ties in Alberta Canada.
Through the partnership with InREFCo, GESI announced that they have entered into an agreement for the source and source of funding of the plant which will be an equity percentage funding of the project. The funding will not in any way depend upon shares of the public company. MacKay stated that the terms of ownership would be heavily in favor of a majority ownership by GESI for the project.
Jason Watson, President/CEO of InREFCo (International Renewable Energy Facilitation Company), informed listeners that the funding was definitely under terms favorable to GESI and its shareholders. He stated that the engineering and production were excited about this project, which he said would be done with proven technologies to convert the high BTU value of waste rail ties to energy. Watson said that with InREFCO, GESI has now satisfied the technology required and gained the source of financing. The technology is being produced by a large and well known manufacturer and is being tested for on site build out at GESI’s site in Alberta.
MacKay related that GESI was pleased it could keep delivering on its business plan of not relying on dilution of its stock to make the funding. MacKay said that GESI should be able to announce within the next 2 to 3 weeks the complete names of the funding source, exact percentages and final details of the first draws.
Some interesting takeaways.
1. The PR/Radio show was nearly three weeks ago…. This is the week of the announcement regarding final details of the first draws.
2. I’ve got a feeling the draw could be anywhere between 10 to 12 million of the 45 to 50 million.
low Float:
Float 67,902,498 a/o March 31, 2012
Float 67,902,498 a/o March 31, 2012
Authorized Shares 490,000,000 a/o March 31, 2012
AI
