Genoil Inc.
OTC Bulletin Board : GNOLF

Genoil Inc.

November 29, 2011 06:00 ET

Genoil Announces CEO Interviewed by and Closing of Private Placement

CALGARY, ALBERTA--(Marketwire - Nov. 29, 2011) - Genoil Inc. (TSX VENTURE:GNO) (OTCBB:GNOLF) announced today that CEO David Lifschultz was interviewed by, the Global Financial Network offering news, data and research, and host to My-Fi (My Financial Network), the world's premiere social community for self-directed investors. conducts interviews with CEOs of emerging growth companies in the technology, pharmaceutical, and energy fields. The interview can be viewed at: aims to empower investors with real-time news, data, and resources for smart, successful investing.

Genoil is pleased to announce that it has closed a private placement, whereby it issued a total of 5,143,207 Units, at a price of U.S. $0.10 per Unit, each Unit consisting of one common share and one common share purchase warrant (the "Warrants") for gross proceeds of approximately U.S. $514,320. The Warrants are exercisable until 60 months following their issue date at a price of U.S. $0.10. The common shares and Warrants issued in connection with this offering are subject to a four-month hold period.

The securities to be issued by the Corporation have not and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act"), or the securities laws of any state of the United States, and may not be offered or sold in the United States absent registration or an applicable exemption therefrom under the 1933 Act and the securities laws of all applicable states.

The private placement is subject to the approval of the Toronto Stock Exchange (Venture).

Genoil is an international engineering technology development company based in Alberta, Canada that develops innovative hydrocarbon, oil and water separation, and marine technologies.

For more information on Genoil Inc. visit

ADVISORY: Certain information regarding the company, including management's assessment of future plans, strategic partnerships, operations, financing outcomes and the ability to negotiate a definitive agreement on terms acceptable to both parties may constitute forward-looking statements under applicable securities law and necessarily involve risks associated with an oil and gas technology development corporation, including competition from other technologies and the ability to access sufficient capital from internal and external sources. As a consequence, actual results may differ materially from those anticipated. The Corporation assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those contemplated by the forward-looking statements. Additionally, statements included in this release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve a number of risks and uncertainties such as competitive factors, technological development, market demand, and the company's ability to obtain new contracts and accurately estimate net revenues due to variability in size, scope and duration of projects, and internal issues. Further information on potential risk factors that could affect the company's financial results can be found in the company's disclosure materials filed on SEDAR at and with the Securities and Exchange Commission.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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