SOURCE: Green Star Energies, Inc.

Green Star Energies, Inc.

February 20, 2009 14:00 ET

Green Star Energies Acquires Majority Ownership of Aeon Holdings Inc.

Subsequent to This Transaction a Memorandum of Understanding Has Been Executed With a 6 Million Gallon a Year Bio Fuel Plant

VANCOUVER, WA--(Marketwire - February 20, 2009) - Green Star Energies, Inc. (PINKSHEETS: GSRE) announced Tuesday that it had completed the sale of Crows Run. Subject to this transaction Green Star has acquired the majority of stock in the Buyer's company.

The sale to Aeon Holdings Inc. was in exchange for over 75% of the stock of the Company (9,000,000 common shares) valued at $1.62M at the time of the transaction as well as a management contract for preferred stock (1,000,000 preferred shares) valued at $180,000 for 3 years. The preferred stock also gives Green Star 50 to 1 voting rights to guarantee Green Star's controlling position as it completes several of the upcoming acquisitions within this majority owned subsidiary.

The core benefit of acquiring the majority of the fully reporting OTCBB Company is that Green Star can use it to make further acquisitions and finance its projects without using Green Star authorized capital (shares) to make it happen while still getting the full value added to the balance sheet. Green Star is pleased to inform its stockholders that negotiations have now advanced on two alternative and renewable energy projects for acquisition into the majority held subsidiary.

As part of the transaction and management agreement, Brandon Toth has been appointed to CEO, President, Secretary and Director of Aeon; additionally Vic Devlaeminck has been appointed as CFO, Treasurer and Director of Aeon Holdings Inc. as of closing last week. Both will maintain their current positions with Green Star Energies, Inc.

Subsequent to this transaction a Memorandum of Understanding has been executed with a Pennsylvania-based bio fuel facility capable of producing 500,000 gallons per month with upgrade potential of up to 1,000,000 gallons per month. The transaction is expected to close quickly, giving Aeon, the majority owned subsidiary of Green Star, a minimum of 50% of the ownership.

"This transaction has greatly increased the value for Green Star stockholders and has positioned management to be able to make strategic acquisitions in the coming weeks that will not dilute the stockholder equity of Green Star but build a stronger balance sheet," commented President Brandon Toth.


Green Star is an energy company with interests in oil and gas development and production. Green Star follows an aggressive business model, focusing on redevelopment of oil and gas fields with a history of production, and also, exploration of green projects and businesses such as biodiesel and wind power. Please visit our brand new website:

Certain information included in this communication (as well as information included in oral statements or other written statements made or to be made by Green Star Energies, Inc.) contains statements that are forward-looking, such as statements relating to the future anticipated direction of the Oil and Gas Industry, plans for expansion, various business development activities, planned capital expenditures, future funding resources, anticipated sales growth and potential contracts. These forward-looking statements are subject to a number of known and unknown risks and uncertainties that could cause actual operations or results to differ materially from those anticipated. Please read the full disclaimer here:

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