GESI Completes Escrow Milestone for Plant Funding by Private Escrow Capital Raise

Date : 08/10/2012 @ 2:00PM
Source : Business Wire
Stock : Green Energy Solution Industries, Inc. (PN) (GESI)
Quote : 0.0019  0.0 (0.00%) @ 9:43PM

GESI Completes Escrow Milestone for Plant Funding by Private Escrow Capital Raise

Green Energy Solution Industries, Inc. (PN) (USOTC:GESI)
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Green Energy Solution Industries, Inc. (PINKSHEETS: GESI) announced today that it has reached a milestone for its funding source for the capital investment of money for the state of the art renewable energy plant in Alberta Canada, by recently achieving the raise of escrow money required for the funding through a private raise from parties through investment from private parties.

Per the agreement with InREFCo for the funding, GESI made the raise of necessary capital for placement into escrow to further make the delivery of funds from the source for the $45 million plant in accord with the funding plan. GESI was able to raise the necessary escrow clearance funds through private placement of restricted shares to long term investors. The funds will be held in escrow under the capital investment agreement until delivery terms and delivery of the first funds occurs. Under the agreement with InREFCo, the full funding terms have been met for the guarantee terms and provision of funding as previously announced by GESI.

GESI expects that there will be announcement in the short term of funding and timeline for the plant build out utilizing waste rail ties

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About GESI Green Energy Solution Industries, Inc. is a project developer for renewable energy projects in Canada. Utilizing in-depth due diligence, GESI has developed business plans, contracts and agreements with resource providers, land owners, waste sources, technology providers, and government entities for the placement of renewable energy projects. GESI is now a public company with administrative offices in Houston, Texas and operations in Alberta, Canada. For More Information on GESI see the web site at www.gesienergy.com

The foregoing press announcement contains forward-looking statements that can be identified by such terminology such as "believes," "expects," "potential," "plans,"" projected," "suggests," "may," "should," "could," "intends," or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. In particular, management's expectations could be affected by, among other things, uncertainties relating to our success in completing acquisitions, financing our operations, entering into strategic partnerships, engaging management and other matters disclosed by us in our public filings from time to time. Forward-looking statements speak only as to the date they are made. The Company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.

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