SOURCE: Geotec Inc.

May 14, 2008 13:33 ET

Geotec, Inc. Files With SEC Its Investment Banking Agreement With StoneGate Partners, LLC

DELRAY BEACH, FL--(Marketwire - May 14, 2008) - Geotec, Inc. (PINKSHEETS: GETC) confirmed today that it has filed with the Securities and Exchange Commission an 8K regarding its investment banking agreement with StoneGate Partners, LLC, a specialty investment firm based in Boston, Massachusetts. StoneGate has agreed to serve as the exclusive placement agent for Geotec in connection with capital raising activities to finance Geotec's operations, including projects involving Geotec's proprietary protein/enzyme product.

StoneGate also has agreed to act as the lead investment banker for up to 10 projects with Geotec involving the construction and operation of hydrocarbon bio-refinery facilities designed to generate tax credits under Section 45 of the Internal Revenue Code. The Company estimates that the startup costs for each bio-refinery facility will be approximately $10,000,000.

As part of the transaction, Geotec has issued a warrant to StoneGate for the purchase of up to $25,000,000 worth of Geotec's restricted common stock. The Warrant is for a period of 10 years and identifies various strike prices at which conversion rights may be exercised.

StoneGate seeks to help its clients achieve their goals by providing a variety of financial advisory services, including raising private capital and selling and buying businesses. StoneGate works extensively with its network of investors, including high net worth individuals, family offices, venture capital and private equity firms, banks and other institutional investors, in an effort to enable its clients to realize their objectives. StoneGate has extensive experience assisting its clients in the energy, real estate and technology industries.

Geotec, Inc. (PINKSHEETS: GETC) is a Green Energy Technology Company. Geotec has operations in the United States and Argentina and utilizes proteins and enzyme technology to chemically convert hydrocarbons to commercially higher value coal. The technologies are also used to purify hydrocarbons, such as coal or oil, of heavy metals and other contaminants such as sulfur, arsenic and mercury to prevent or correct pollution in the air, water or soils. In addition, hydrocarbon contaminated soils can be re-vegetated and re-forested.

Statements in this release, which relate to other than strictly historical facts, including statements about the Company's plans and strategies, as well as management's expectations about new and existing products and services, technologies and opportunities, market growth, demand for new and existing products and services, are forward-looking statements. The words "believe," "expect," "anticipate," "estimate," "project," "intend" and similar expression identify forward-looking statements that can speak only as of the date hereof. This press release contains certain forward-looking statements regarding Geotec, its business prospects and results of operations that are subject to certain risks and uncertainties posed by many factors and events that could cause Geotec's actual business, prospects and results of operations to differ materially from those that may be anticipated by such forward-looking statements. The Company assumes no obligation to notify of any changes, other than material events as required by the Securities and Exchange Commission. Readers are urged to carefully review and consider the various disclosures made by Geotec in this new release and other reports filed with the Securities and Exchange Commission that attempt to advise interested parties of the risks and factors that may affect Geotec's business.

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