SOURCE: Great Lakes Biogas Technologies Inc.

December 18, 2008 16:10 ET

Great Lakes Biogas Technologies Inc. Approves Takeover Offer From American Alternative Energy Systems Corporation

MARIETTA, GA--(Marketwire - December 18, 2008) - Great Lakes Biogas Technologies Inc. (PINKSHEETS: GLBS) (FRANKFURT: CS4) confirmed today that the Board of Directors of the company has received and approved a takeover offer from American Alternative Energy Systems Corp. of Denton, Texas. American Alternative Energy Systems Inc. has similar projects and objectives relative to the operations of GLBS. Great Lakes Biogas Technology shareholders of record would receive 1 (one) American Alternative Energy Systems share for every 3 (three) GLBS shares held. The amalgamation would bring together two strong companies that are proactive in the renewable energy industry. This takeover comes into effect March 16, 2009. All shareholders of record are asked to surrender their stock certificates to the company's transfer agent on or after the March 16, 2009 closing date. The new AATV shares will be issued and mailed to shareholders. GLBS share certificates that are not returned will be automatically cancelled and a new AATV certificate will be issued.

Please return you certificates to:

                       Knightsbridge Assurance Ltd.
                        167 Queen Street S. Unit#9
                             Streetsville, On
                              Canada. L5M-1L2

     Additional information will be provided on the company's website

About Great Lakes Biogas Technologies Inc.

Formed in 2001, Great Lakes Biogas Technologies Inc. searches for the winners of tomorrow -- entrepreneurs whose ideas and talents qualify them to pursue large market opportunities successfully. We seek opportunities across a broad spectrum, including environmental market sectors and renewable energy solutions, The companies recent reorganization and business focus is to pursue the numerous opportunities that are presenting themselves in the alternative energy exploration and technology fields today and in the foreseeable future.

About American Alternative Energy Systems Corp.

American Alternative Energy Systems Corp. (AAESC) is a company focused on reducing greenhouse gas emissions and making a more sustainable environment through renewable energy. There are three different types of renewable energy in the market: wind, solar, and biomass. Of the three, biomass is the most economical and can solve other issues, making it a superior energy source.

AAESC will produce Anaerobic Digesters that will turn manure and other bio-waste into electricity and heat. The digester will solve the farmers' manure disposal problems, and will produce electricity, heat, and income for the farm (the excess electricity will be sold to the hydro grid).

AAESC goal is to become Canada's market leader in digesters. It plans to become the leader by offering farmers the digester at no cost, simplifying the purchase process.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements in this release that are forward-looking statements are based on current expectations and assumptions that are subject to known and unknown risks, uncertainties, or other factors which may cause actual results, performance, or achievements of the company to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. Actual results could differ materially because of factors such as the effect of general economic and market conditions, entry into markets with vigorous competition, market acceptance of new products and services, continued acceptance of existing products and services, technological shifts, and delays in product development and related product release schedules, any of which may cause revenues and income to fall short of anticipated levels. All information in this release is as of the date of this release. The company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the company's expectations.

Contact Information

    Great Lakes Biogas Technologies Inc.
    Miles Reimersma