SOURCE: GreenChek Technology, Inc.

December 01, 2009 10:46 ET

GreenChek Announces Closing of Bridge Loan

SAN FRANCISCO, CA--(Marketwire - December 1, 2009) - GreenChek Technology, Inc. (OTCBB: GCHK), a leading manufacturer and distributor of hydrogen injection technology, today announced that it has closed a bridge loan of US$50,000 with a Hong Kong private lender.

The bridge loan is for a term of six (6) months, bears no interest, and includes the issuance to the lender of 500,000 common share purchase warrants, which warrants have an exercise price of $0.05 for the first year and $0.10 for the second year. The warrants were sold without registration under the Securities Act of 1933, as amended and may not be resold unless subsequently registered under the Act or pursuant to an exemption from registration under the Act.

"I am very grateful to our management team closing on this bridge loan, as well as our funder, against the background of our current economic conditions. This financing will provide us with the necessary working capital to support and complete our product testing in Europe and for accounts payable and general corporate purposes," states Lincoln Parke, President of GreenChek.

About GreenChek

GreenChek Technology, Inc. is traded under the symbol GCHK on the OTCBB exchange and is based in San Francisco, California. GreenChek manufactures and distributes hydrogen injection technology that is primarily focused on mobile transportation applications, as well as stationary power generation applications. GreenChek manufactures an emission reducing device simply known as the ERD™, which can be retrofitted to any vehicle regardless of fuel source. GreenChek provides innovative world-class mobile Greenhouse Gas (GHG) emissions reduction technology, while greatly enhancing fuel economy for the mobile transportation industry. GreenChek's Onboard Hydrogen Generation and Injection (OHGI) technology is positioned to occupy the pre-eminent position in the emerging market for emissions reduction technology and fuel economy enhancement.

Safe Harbor Statement

Statements in this press release regarding GreenChek's products, services, capabilities, performance, opportunities, development and business outlook that are forward-looking involve and are subject to known and unknown risks, uncertainties and other factors, some of which are beyond GreenChek's control and difficult to predict, and could cause actual results to differ materially from those anticipated, expressed or forecasted in the forward-looking statements. Such risks and uncertainties may include, but are not limited to: lack of operating history, transitioning from a development company to an operating company, difficulties in distinguishing GreenChek's products and services, ability to manufacture and deploy GreenChek's products, lack of or delay in market acceptance and fluctuations in customer demand, dependence on a limited number of significant customers, reliance on third party vendors and strategic partners, availability of raw materials, subassemblies and components, ability to meet future capital requirements on acceptable terms, continuing uncertainty in the emissions reduction industry and the global economy, compliance with federal and state regulatory requirements, timing, availability and success of new technology and product introductions and the other factors discussed in GreenChek's filings with the Securities and Exchange Commission.

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