Green Mountain and C. Trade Group Propose JV With Bayside Corp for Texas Oil Field Development Project
January 18 2012 - 11:12AM
Marketwired
Representatives from Green Mountain Development Corp (PINKSHEETS:
GMND), and C. Trade Group met in Texas last week with Bayside Corp
(PINKSHEETS: BYSD) management as a follow up to the recently signed
project development agreement between GMND and BYSD. The parties
visited oil well sites and discussed project financing, compliance,
logistics, remediation job opportunities and a joint venture deal
structure for a multi-well development project the companies plan
to begin in this quarter.
Green Mountain and C. Trade are assisting Bayside with project
development of drilling leases from acquisition to commercial
production. C. Trade Group discussed product distribution logistics
and the use of its network resources to accelerate Bayside
development efforts and also presented Bayside with draft JV
agreement which is now in the review stages between the parties.
During the oil field tour Green Mountain identified new business
for its remediation and agricultural microbial product line at
various well sites.
It is contemplated that a JV agreement will be signed in January
and project commencement will begin this quarter. As part of its
compensation for bringing all parties together, Green Mountain has
a participation in the Joint Venture and will provide remediation
products and services to Bayside projects.
Robert Brehm, CEO of Green Mountain stated, "I want to thank
Bayside and C. Trade for giving us the opportunity to provide
project development services in the energy sector. Expanding our
baseline revenue sources enables us to rapidly build GMND on
multiple fronts."
About Green Mountain Development Corp
Green Mountain Development Corp provides project development
services for capital providers and technology operators and
distributes licensed products related to the energy, agricultural
and environmental sectors.
About Bayside Corp Bayside specializes in
the acquisition, rework and enhancement of properties in proven oil
and gas fields that offer lower risk and high potential returns in
a shorter time period than traditional exploration drilling.
Investors and media contact Robert Brehm at 619/488-3744
(bob@greenbizness.com) or visit the corporate website
www.GreenBizness.com for news and updates.
The information contained in this press release includes
forward-looking statements. Forward-looking statements usually
contain the words "estimate," "anticipate," "believe," "expect" or
similar expressions that involve risks and uncertainties. These
risks and uncertainties include the company's status as a
development stage company with uncertain profitability, need for
significant capital, uncertainty concerning market acceptance of
its products, competition, limited service and manufacturing
facilities, dependence on technological developments and protection
of its intellectual property. The company's actual results could
differ materially from those discussed herein.
Robert Brehm 619/488-3744 Email Contact
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