SOURCE: GreenGold Ray Energies, Inc.

GreenGold Ray Energies, Inc.

October 13, 2009 09:08 ET

GreenGold Ray Energies Raised Capital: Biodiesel Oil Refinery Plant Acquisition & USA Expansion Imminent

CAGAYAN DE ORO, PHILIPPINES--(Marketwire - October 13, 2009) - GreenGold Ray Energies, Inc. (PINKSHEETS: GRYE) announces today that the Company starts to receive funds needed to capitalize the final acquisition of its biodiesel oil refinery plant and USA expansion. An increase of ongoing public and investor awareness programs consisting of Research Reports and a forthcoming CEO visit to the US are also included.

GreenGold expected to receive over One Million US Dollars in tranches starting this week. The majority of these funds are being re-invested back into the Company to support the ongoing working operations, the capital equipment acquisition of a biodiesel oil refinery plant and the company's growth with the completion of its expansion to Texas, USA.

Furthermore, on October 10, 2009, during a Special Board of Directors Meeting, the Board with the approval of the majority shareholder(s), passed a resolution to increase the total number of Authorized Shares to One Hundred Million (100,000,000) Common Shares. GreenGold is almost complete with its Audited 2007, 2008 and the 1st and 2nd Quarters of 2009 Financial Statements, certified according to USA GAAP. The audited financial statements will enable GreenGold to become a fully reporting company again, to be re-registered to a higher stock exchange.

About GreenGold Ray Energies, Inc.

GreenGold Ray Energies, Inc. (PINKSHEETS: GRYE) is a rapidly growing biodiesel, green technology, environmentally-friendly and alternative-renewable energy company. The Company has already solidified its position through a highly successful land acquisition program, acquiring large parcels of land through working alliances and joint venture partnership with landowners and growers, ideal for the cultivation of the jatropha curcas plant. Jatropha curcas grows almost anywhere, even on gravelly, sandy and saline soils. Jatropha oil can be processed to produce a high-quality biodiesel that can be used in a standard diesel car, while the residue can also be processed into biomass to power electricity plants.

Forward-Looking Statements

Forward-looking statements in this release include statements regarding the Company's projections regarding biodiesel, biofuels other alternative energy explorations and extractions in future periods. Penny Stocks are highly speculative and may be unsuitable for all but very aggressive investors. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact Information