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Green Energy Solution Industries, Inc. Completes Acquisition of SATM for Profit Maximizing Energy Project in Canada
HOUSTON, TX, Oct 10, 2011 (LevelStock.com News) -- (PINKSHEETS: SATM) Green Energy Solution Industries, Inc. (Currently Trading as OTCPK: SATM) has completed the takeover of control of SATM; the Company completed the name change with the State of Nevada, appointed new directors and management into the Company, and placed the assets of its Alberta based renewable energy project from waste wood rail ties into the Company. Significantly, GESI has chosen not to change the corporate share structure of its shareholders, and thus far chosen not to enter into a reverse division of the shares, or major change of the structure of the Company.
GESI took control by the purchase of a preferred share block, and through the election of the new board of directors. As part of the Corporation's response and responsibility to its shareholders, it has announced that it intends to hold its annual meeting in the fourth quarter of 2011. GESI will be releasing further details of its accomplishments and goals in the near term, and expects to be finishing all essential matters to complete its goal of having a revenue producing renewable energy project in the next three months.
David Chalela, Chief Executive Officer of GESI, stated, "We have chosen to keep certain accounting personnel and back office personnel while we can keep our direction on completing our first project in Alberta which will be our sole direction for the near future."
About GESI
Green Energy Solution Industries, Inc. is a project developer for renewable energy projects in Canada. Utilizing in-depth due diligence, GESI has developed business plans, contracts and agreements with resource providers, land owners, waste sources, technology providers, and government entities for the placement of renewable energy projects. GESI is now a public company with offices in Houston, Texas and Alberta, Canada. For More Information on GESI see the web site at www.gestechnologies.com
The foregoing press announcement contains forward-looking statements that can be identified by such terminology such as "believes," "expects," "potential," "plans,"" projected," "suggests," "may," "should," "could," "intends," or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. In particular, management's expectations could be affected by, among other things, uncertainties relating to our success in completing acquisitions, financing our operations, entering into strategic partnerships, engaging management and other matters disclosed by us in our public filings from time to time. Forward-looking statements speak only as to the date they are made. The Company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.
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