Green Environmental Technologies Inc.
TSX VENTURE : GEI

Green Environmental Technologies Inc.

September 30, 2005 13:43 ET

Green Environmental Technologies Inc. Announces Settlement With CIBC

TORONTO, ONTARIO--(CCNMatthews - Sept. 30, 2005) - Green Environmental Technologies Inc. (TSX VENTURE:GEI)("GEI"-Tier 2-TSXV; "Green Environmental" or the "Company") announced that on September 29, 2005 a subsidiary of Green Environmental, Arbor-Tech Inc., entered into a settlement agreement related to a loan by the Canadian Imperial Bank of Commerce (the "CIBC") that was in default. The Company has agreed to make payments to CIBC in installments until March 29, 2007 to remedy the default and settle the matter.

On September 29, 2005, Green Environmental served and filed a Statement of Defence to a lawsuit by Fareport Capital Corporation disclosed in the company's press release of August 22, 2005.

The TSX Venture Exchange has neither approved nor disapproved of the contents of this press release.

Contact Information

  • Green Environmental Technologies Inc.
    Mr. Mark Appleby
    President
    (416) 804-0280