SAN DIEGO--(BUSINESS WIRE)--Green Star Alternative Energy, Inc. (Pink Sheets:
GSAE -
News) is pleased to
announce the signing of a Letter of Intent with both Notos d.o.o. and
Sirius Regulus d.o.o. The LOI outlines the bases for the acquisition of
these privately held Serbian companies.
Green Star’s management believes this merger
to be an ideal step in fulfilling the new corporate strategy. It
provides the company with a strong energy development presence in Europe
that will lead to rapid expansion in the region. There are three
divisions within the Notos framework – Notos
Wind Energy, Notos Agri, and Notos Power Trading. This precise system of
asset integration affords superior efficiency and greater profitability.
Notos is the operations arm while Sirius Regulus is the holder of the
land used for the various projects constructed by its sister company
Notos.
Notos Wind Energy specializes in the creation of electricity from wind
energy. With projects currently scheduled for development, Notos is an
important participant in the alternative energy sector. The concentrated
experience of Notos’ management team and
advisory board has allowed Notos significant penetration into a
burgeoning and profitable industry. Notos Agri is the agricultural
department for Notos. It uses the real estate assets, which house the
wind turbines, for the farming of various products from corn, wheat,
raspberries, and cattle. Notos Power Trading is the energy trading
division for Notos. It is one of only a few licensed companies permitted
to trade electrical power into and out of the Republic of Serbia, and
the only entity which will have its own electricity (through Notos Wind
Energy) available for trade.
“We look forward to making Green Star
Alternative Energy a company of prominence and environmental integrity.
It will be the first company in Serbia to make use of clean wind energy
to produce ecologically friendly electricity. We are in a position to
become an influential presence in the green energy industry and I
appreciate the opportunity to lead Green Star towards this bright and
beneficial future.”
- Miodrag Andric, President Notos
“Green Star Alternative Energy is in the right
place by taking part in this emerging clean energy market. This is a
fantastic opportunity and the acquisition of Notos and Sirius Regulus
will provide solid growth in shareholder value. The financial outlook
for this company is noteworthy.”
- J. M. De Castro, CFO Green Star
FORWARD-LOOKING STATEMENTS
This press release contains 'forward-looking statements.' These are
statements concerning plans, objectives, goals, strategies,
expectations, estimates, intentions, projections, developments, future
events, or performance, underlying (expressed or implied) assumptions
and other statements that are other than historical facts. In some cases
forward-looking statements can be identified by the use of
forward-looking words such as 'believes,' 'expects,' 'may,' 'will,'
'should,' or 'anticipates,' 'estimates,' or the negative of these words
or other variations of these words or comparable words, or by
discussions of plans or strategy that involve risks and uncertainties.
Management wishes to caution the reader that these forward-looking
statements, including, but not limited to, statements regarding the
Company's plans, goals the estimates and assumptions, and the business
strategy of the Company and other matters that are not historical facts
are only predictions. No assurances can be given that such predictions
and the estimates regarding mineral reserves, success of mining plans,
or other projections will prove correct or that the anticipated future
results will be achieved. Actual events or results may differ
materially. Forward-looking statements should be read in light of the
cautionary statements and risks that include, but are not limited to,
the risks associated with a small company, the intense competition the
company faces from others, and technological changes. Any one or more of
these or other risks could cause actual results to differ materially
from the future results indicated, expressed, or implied in such
forward-looking statements.
For further information contact: info@greenstarae.com
