SOURCE: Global Ink Supply

June 15, 2010 09:41 ET

Global Ink Supply Announces Name Change to TurkPower Corporation

NEW YORK, NY--(Marketwire - June 15, 2010) -  Global Ink Supply Company (the "Company") is pleased to announce that it has changed its name to TurkPower Corporation. This corporate action takes effect today and signals the change of focus of operations of the Company towards energy consulting and development, as well as mining exploration and operation in Turkey. In connection with the name change, the Company's trading symbol has been changed to GBIKD (OTCBB: GBIKD). The "D" will be removed after a 20-day period.

In addition, the Company announces it has entered an agreement to purchase 50.1% of an Iron Ore mine in Turkey and put down a deposit which is fully refundable if TurkPower decides to opt out of the purchase agreement. The mine has proven reserves in excess of 20,000,000 metric tons and is expected to be fully operational as of July 2010 without any further investments necessary to commence operations. The Company expects the mine to be profitable and generate returns for the Company immediately after start of operations.

"We are very excited about TurkPower's growth prospects in 2010. Both on the mining and the energy side of our business, we are confident to generate substantial revenue and profits in the coming months," commented Ryan E. Hart, Executive Chairman of TurkPower Corporation.

About TurkPower Corporation
TurkPower Corporation (OTCBB: GBIKD) is a Turkish-American consulting and service operations firm with a strong focus on the booming Turkish energy market. TurkPower offers its domestic and international clients consulting services and acts as a full service operator for wind, hydro, solar, coal and geothermal energy parks in Turkey. In addition to its energy business, TurkPower aims at becoming a large player in the Turkish mining industry by acquiring and consolidating operational mines with proven reserves, utilizing economies of scale to increase returns.

Safe Harbor Statement

The statements by our officers, and other statements regarding optimism related to the business, consulting, service operations, expanding exploration and development activities and other statements in this press release are forward-looking statements within the meaning of the Securities Litigation Reform Act of 1995. Such statements are based on current expectations, estimates and projections about the Company's business and subject to successful financing. Words such as expects, anticipates, intends, plans, believes, sees, estimates and variations of such words and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and involve certain risks and uncertainties that are difficult to predict. Actual results could vary materially from the description contained herein due to many risk factors that affect the industry the Company operates in and other risk factors listed from time to time in the Company's Securities and Exchange Commission (SEC) filings under "risk factors" and elsewhere.

Contact Information

  • TurkPower Corporation
    100 Park Avenue
    New York, New York 10017
    T 212-984-0628
    F 212-880-6499