SOURCE: Green Energy Resources

January 25, 2010 09:45 ET

Green Energy Resources (GRGR) Signs a 1 Year $21 Million Pellet Order for Italy; Seeks European Retail Market Share

NEW YORK, NY--(Marketwire - January 25, 2010) - Green Energy Resources (PINKSHEETS: GRGR) announced it signed a $21 million pellet order with an Italian company.

The order entails 12 monthly shipments of 10,000 tons each to commence in February. Green Energy Resources will supply pellets packaged in 40 pound bags to be distributed to retailers in Europe. Green Energy Resources works with US pellet manufacturers to move unused or built up inventories. The order is GRGR's first retail supply order to the European market, where it hopes to gain a market share of a very large pellet market.

In Other News, Green Energy Resources planned 10% stock dividend has been delayed awaiting Finra's approval of a reverse stock split. Documents were filed in with the agency but to date no approval has been received. Green Energy will receive a new trading symbol once approved. Green Energy's announcement in December indicated the stock dividend would be post stock split.

Except for historical information contained herein, the statements in this release are forward-looking statements that are made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties that may cause the companies' 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 financings, ship availability, fuel costs and other risks.

Contact Information

  • Contact
    Green Energy Resources
    631 375 7921