SOURCE: Global Ink Supply

December 16, 2009 12:22 ET

Global Ink Supply Co. Announces New Business Plan and Formation of Its Subsidiaries

NEW YORK, NY--(Marketwire - December 16, 2009) - Global Ink Supply Co. (OTCBB: GBIK) (the "Company") announced today that the Company has formed two wholly owned subsidiaries, TurkPower Corporation, a Delaware corporation, overseeing the Company's operations in the United States from its New York offices, and Turkpower Enerji San. Ve Tic A.S., a Turkish corporation, which will perform most of the Company's alternative energy operations from Istanbul.

The subsidiaries were formed to further the Company's new direction and business plan to offer a wide range of alternative energy consulting services in Turkey. The Company plans on entering into in the Turkish renewable energy market and will offer consulting services, seek to act as project manager and service operator as well as attempt to develop and run its own renewable energy parks.

Aykut Ferah, the Company's newly appointed CEO, stated, "We are delighted to implement TurkPower's business plan with our newly-formed subsidiaries. We believe that this will be an exciting period of operational and financial growth for the Company and its shareholders."

In addition, the Company announced that it intends to change the name of the Company to TurkPower Corporation to reflect its new direction.

Safe Harbor Statement: This press release contains forward-looking statements that reflect the Company's current expectation regarding future events. Actual events could differ materially and substantially from those projected herein and depend on a number of factors. Certain statements in this release, and other written or oral statements made by Global Ink Supply Co. are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond the Company's control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. Important factors that could cause actual results to differ materially from the company's expectations include, but are not limited to, those factors that are disclosed under the heading "Risk Factors" and elsewhere in documents filed by the Company from time to time with the United States Securities and Exchange Commission.

Contact Information

  • For more information contact:

    TurkPower Corp.
    Attn: Ryan Hart
    (212) 984-6499