SOURCE: Green Energy Resources

September 21, 2006 06:37 ET

GRGR Retires 405,573 Shares in Stock Buy Back

Green Energy Resources Thanks Investors

NEW YORK, NY -- (MARKET WIRE) -- September 21, 2006 -- Green Energy Resources (PINKSHEETS: GRGR) announced it is retiring 405,573 shares of company stock from the float. The move reduces the total volume of trading shares from 15.5 million to 15.1 million shares. The company initiated a stock buy back in March targeting upto 1.2 million shares in 2006. The vast majority of the shares have been recouped between July and September. The company plans to maintain the buy back policy throughout the end of the year and remains on target.

In other company news, Green Energy Resources has requested its SEC attorney to look into possible illegal shorting of GRGR stock. Yesterday's unusual trading activity had a negative effect on Green Energy Resources' stock price. There were irregular activities throughout the day, including dropping the bid and ask prices on buy orders, and buy trades not executed before the closing bell.

Green Energy Resources thanks each of its investors for their support, interest and for expressing concerns about the trading activities. As always, the company recommends investors obtain stock certificates from their broker. The company continues to work hard to bring together the investor, financial, energy, government and residential communities in a combined effort to fight global warming through the use of renewable energy. The company is dedicated to greenhouse gas reduction and making the planet a better, safer place to live.

Contact Information