SOURCE: Greenlite Ventures Inc.

March 12, 2012 09:00 ET

Greenlite Commences Carbon Offset Marketing to Online Community

BLAINE, WA--(Marketwire - Mar 12, 2012) - Greenlite Ventures Inc. ("Greenlite") (OTCBB: GLTV) announced today that it has commenced sales of voluntary carbon offsets through its Website at www.greenlitecarboncredits.com. The carbon offsets being sold are from carbon sequestration by teak trees planted by United Nature in Panama. Greenlite has an agreement with United Nature to market carbon offsets produced by their reforestation projects in Panama's Darien region, the most southern region of Panama. United Nature has 1700 hectares (4199 acres) under ownership and management in Panama. Each hectare sequesters approximately 10 tons of atmospheric carbon per year. United Nature plants in jungle areas that have been damaged as a result of illegal or unethical tree harvesting practices such as clear cutting. Teak is the preferred wood for the plantations because it is resistant to disease and forest fires. Due to its high value for boat decks and other manufactured wood products it is not burned as firewood which would return carbon sequestered to the atmosphere. Details on United Nature's plantations can be found at their website www.UnitedNature.com.

About Greenlite
Greenlite is a carbon offsets marketing company. We market carbon offsets through our website to voluntary markets where no verification is required. Greenlite has the exclusive agreement to sell offsets generated by United Nature. United Nature owns and manages sustainable teak plantations and invests in buying rainforest for reforestation. Their projects are located in Darien Province, Panama.

Greenlite's longer term plan is to market and sell verified Deforestation and Degradation (REDD) carbon offsets from global restoration projects. Our focus is on reforestation, ideally with producers, similar to United Nature who provide work opportunities and benefits to the indigenous people.

Greenlite's longer term plans also include seeking to join carbon exchanges and marketing other forms of verified carbon credits.

Greenlite's shares are traded in the United States on the OTC Bulletin Board (OTCBB: GLTV).

This press release may contain, in addition to historic information, forward-looking statements. These statements may involve known and unknown risks and uncertainties and other factors that may cause the actual results to be materially different from the results implied herein. In particular, there are no assurances that: (i) Greenlite's website will successfully market carbon offsets or (ii) that Greenlite will become a member of any carbon credit exchange.

Contact Information

  • Contact:
    Howard Thomson
    Tel: 360-220-5218
    Email: Info@greenlitecarboncredits.com

    GREENLITE VENTURES INC.
    810 Peace Portal Drive
    Suite 201
    Blaine, Washington 98230