Replies to post #489325 on BB's Stock Haven

[IRISHBULL]

GMCI R/S'ing tomorrow.. lil riskie no?

Green Mountain Capital to Acquire Telecommunications PLC, A Leading Provider of Telecommunications Services Based in the UK

Monday , January 09, 2006 12:27 ET

MIAMI, Jan 09, 2006 (BUSINESS WIRE) -- Green Mountain Capital Inc. (OTC Bulletin Board: GMCI), has authorized its common shares to be reverse split, effective January 11, 2006, on the basis of 1000 old shares for 1 new share. This authorization was approved by the stockholders in March 2005. The common shares outstanding after the effective date of the reverse split will be 899,089.

In addition, the Company has agreed to acquire London based Internet Telecommunications PLC, a private company, for 23,500,000 common shares. As part of the acquisition, the Company will have raised $3,000,000. The total shares outstanding after completion of the acquisition will be 45,899,089 common shares. The outstanding preferred shares will be retired as part of the acquisition and recapitalization. The final closing is estimated to be on January 11, 2005.

Internet Telecommunications, PLC (ITPLC) is a provider of low cost line rental and airtime services including voice and data as well as offering value-added services such as SMS, voice-over-internet Protocol (VolP) and mobile telephony. ITPLC estimates in excess of $19,000,000 in revenues in 2005 (its first full year in operation) and has over 10,000 customers, including residential as well as corporate clients some with 30 channel ISDN lines. ITPLC estimates that 2006 revenues will be approximately $80,000,000 with continuing profits, exclusive of US operations to be established in 2006.

Green Mountain Capital, Inc. trades on the OTC Bulletin Board under the symbol GMCI (which will change prior to the effective date of the reverse split). For further information refer to the 8-k and attached power point which was filed with the Securities and Exchange Commission this week.

Information included in this news release contains forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995 (Reform Act). Such statements are based on current expectations and involve a number of known and unknown risks and uncertainties that could cause the actual results and performance of the Company to differ materially from any expected future results or performance, expressed or implied, by the forward-looking statements. In connection with the safe harbor provisions of the Reform Act, the Company has identified important factors that could cause actual results to differ materially from such expectations, including operating uncertainties, uncertainties relating to economic issues and competition. Reference is made to all the Company's SEC filings, including the Company's Reports on Forms 10KSB, 10QSB and other periodic reports.

SOURCE: Green Mountain Capital Inc.

Green Mountain Capital Inc &
Internet Telecommunications Plc
Dr. Fredrik Verkroost, [phone]
Fax: [phone]
[e-mail]
www.itwlr.com
www.itplc.com
or
Investor Relations:
Strategic Growth International Inc.
Richard E. Cooper, [phone]
Fax: [phone]
[e-mail]

Copyright Business Wire 2006