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Green Energy Resources Appoints New Chief Financial Officer to Expand Management Team; Company Plans to List on the London AIM Market in 2006
NEW YORK --(Business Wire)-- June 14, 2006 -- Green Energy Resources, Inc. (Pink Sheets:GRGR) has selected Mr. Joseph McGowan as Chief Financial Officer. Mr. McGowan is a Certified Public Accountant with over 25 years experience at the institutional level. Mr. McGowan's duties will include daily accounting, preparation of financial reports, preparation of regulatory reports, and SEC filings.
Mr. McGowan said, "Green Energy Resources has an outstanding business model, and is second to none in industry leadership and vision. It is my objective to bring them into conformity with the financial markets."
The hiring of Joseph McGowan coincides with Green Energy's plans to list on the AIM Market in London and the Nasdaq Bulletin Board. Green Energy Resources has completed requirements for the Nasdaq OTC to trade (bid and ask) on its new tiered system. Mr. McGowan has worked closely with Green Energy's securities counsel, Jack Halperin, in assisting the company in meeting the requirements for the Nasdaq OTCBB and the London AIM Market.
The Company also announced that its UTCS software is ready for market application and distribution. The user friendly software is designed to create for the first time a national database of wood biomass supplies. The program contains an EBAY-like marketplace for buyers and sellers. Under this system, Green Energy Resources will earn a fee from both the buyers and the sellers on every transaction. The software will create a first ever community tree inventory system as well as a funding mechanism to reduce greenhouse gases through forest sequestration. Green Energy is engaged in discussions with the New York, Maryland and California as initial customers for the UTCS software.
About Green Energy
Green Energy Resources is a wood biomass supplier and exporter to the power utility industry worldwide. Wood biomass has multiple applications, including co-firing with coal, gasification, ethanol for fuel, biodiesel, and direct burn. Biomass is the only renewable energy that can be stored with reserves. The company has recently received two (2) trial orders for the European market, which is scheduled for shipment in September, 2006. Each shipment is valued at approximately $2.5 million.
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 and other risks.
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