SOURCE: GS Enviroservices, Inc.

GS Enviroservices, Inc.

December 11, 2012 07:00 ET

GreenSource Corporation Acquires Controlling Interest of GS Enviroservices, Inc.; Names New CEO

Sustainable Development Company to Form GreenSolutions Group, a Division to Manage a Portfolio of Green Technology Projects

SAN DIEGO, CA--(Marketwire - Dec 11, 2012) - GreenSource Corporation of San Diego, CA, a company dedicated to the advancement of sustainable development, announces that it has acquired a controlling interest in GS Enviroservices, Inc. (OTCQB: GSEN). GreenSource intends to utilize GS Enviroservices to support and manage the growth of green technology solutions. GS Enviroservices' new website, www.gsenvirotech.com, will soon launch the GreenSolutions Group, which will develop green technology projects, including a new multi-city local online green business magazine to enhance its support of sustainable growth.

Tad Simmons, the President and CEO of GreenSource Corporation, has been appointed to serve as the new CEO of GS Enviroservices, Inc. "This is an exciting next step for the future of environmental sustainability and for our investors," says Mr. Simmons. "Over the next several years, we plan to transform GS Enviroservices into a significant and growing provider of sustainability technologies. But our first priority is to turn technology into revenue and begin to report progress."

On August 17, 2012, GS Enviroservices, Inc., entered into a securities purchase agreement with GreenSource pursuant to which GS Enviroservices agreed to sell 81 percent of the company to GreenSource for $250,000.

Tad Simmons has been President and CEO of GreenSource Corporation since 2008 and was owner of GreenSource for the seven years prior. During that time, Mr. Simmons also worked as a consultant and sales manager for companies involved in the solar energy industry, including Clean Power Systems, Kerr Enterprises, and Rockwell Electric, a subsidiary of Integrated Electrical Services, Inc. From 1999 to 2003, Mr. Simmons also served as President and CEO of Gober Gear, Inc., a developer of off-road trailers.

From 1993 to 2000, Mr. Simmons was the Senior Staff Engineer and Technical Lead at Science Applications International Corporation (SAIC). His eight years of experience as an engineer and technical lead for various government and private sector clients includes design and leadership roles in fuel cell instrumentation, flat-panel X-ray imaging and integrated circuit design, as well as renewable energy technology design reviews; development of strategic partnerships; proposal development; wind turbine and electric vehicle motor design review; and support of entrepreneurial ventures.

Mr. Simmons holds a certificate in Global Business Management and has been chairman or president of both the Institute for Electrical and Electronics Engineers (IEEE) and the Society of Automotive Engineers (SAE) in San Diego. He is a two-time winner of the Saturn Award for Leadership. Mr. Simmons earned a master's degree in Business Administration from the University of Phoenix in 2002 and a bachelor's degree in Electrical Engineering from San Diego State University in 1993.

About GreenSource Corporation
GreenSource Corporation provides technical and management consulting services to clients in the greentech, cleantech, and sustainability industries. Its goal is to make a tangible difference in sustainable development by empowering innovative companies to succeed in bringing the technologies, products, and services to market that will collectively start to undo the damaging patterns that have developed over centuries.

About GS Enviroservices, Inc.
GS Enviroservices, Inc. (OTCQB: GSEN) is dedicated to providing investors with a way to invest in environmental technologies that offers near-term liquidity, professional oversight, and expert management of growth.

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