SOURCE: Gold River Productions

October 05, 2010 00:01 ET

Gold River Productions Inc. (GRPS) Announces It Has Secured Capitalization

SALT LAKE CITY, UT--(Marketwire - October 5, 2010) -  John Ohlin, President and Chief Executive Officer of Gold River Productions (PINKSHEETS: GRPS) Inc., disclosed today that GRPS has secured its capitalization in three tiers. "Tier one, our first round of capitalization has closed," Mr. Ohlin reported. "This first tier helped us complete the share exchange with AeroQuest Technologies as well as our initial filings," he stated.

"The second tier of capitalization which is in place will allow us to complete the legal and accounting work necessary to move up to the OTC-BB. Moving to the BB is part of our long term strategy as it is a stepping stone to a move to one of the major markets," he stated. "Also, moving to the OTC-BB is a contingency of our third tier funding which will allow the Company to complete the purchase of its manufacturing equipment and begin revenue generating operations. Our goal is to complete the necessary filings and receive permission to move to the BB by February so we can begin production by May or June," Mr. Ohlin stated. "Gold River Productions is currently researching the available incentives offered by many States to companies who locate manufacturing facilities in their state and create jobs," Mr. Ohlin concluded. 

Gold River Productions wholly owned subsidiary, AeroQuest Technologies, was the winner of the prestigious 2007 Utah Innovations Award in the Materials/Chemicals category, and is poised to enter the market with its technology driven, innovative products. AeroQuest has developed "green," structural, cost effective, replacements for many products currently produced with fiberglass, a material infamous for polluting the atmosphere with volatile organic compounds (VOCs) during production.

For complete information on the Company please go to our web site

Except for historical information contained herein, the statements in this release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties that may cause the company's actual results in future periods to differ materially from forecasted results. Such risks and uncertainties include, but are not limited to, market conditions, competitive factors, the ability to successfully complete additional financing and other risks.

Contact Information

  • Contact:
    Mr. John Ohlin