SOURCE: GreenGoldRay Energies, Inc.
November 04, 2008 09:18 ET
GreenGold (Symbol: GRYE) Built Jatropha Oil Technology R & D Center, Expansion to Africa and USA Imminent
GRYE Complied With Stringent OTC PINKS Requirements
CAGAYAN DE ORO, PHILIPPINES--(Marketwire - November 4, 2008) - GreenGold Ray Energies, Inc.
(PINKSHEETS: GRYE) today announced the completion of its NASD 15c211 and
the Oil & Gas Supplementary Disclosure Statements that are required by OTC
PINKS to have the Symbol: GRYE quotes published under "Limited
Information." GreenGold is pleased to be accepted into the OTC PINKS market
and will continue on its reporting policies on a consistent basis. The
Company is now focused on complying to complete its full financial
reporting requirements and filing of the SEC Form 10K for the 2008 Audited
Annual Financial Statements, hoping to move onto a higher tier in the OTC
PINKS Market.
Manolo Tecson, CEO/President of the Company, believes that, "The OTC PINKS
market will provide the Company the same opportunities and hopes that the
transformation of the GreenGold Ray Energies to be one of the major
biofuels, biodiesel oil and alternative energy producing companies will
build our shareholders value now and in the future."
GreenGold had built and begun developing its Jatropha Oil Technology
Research & Development Center in Cagayan De Oro. This center is a
combination of cultivating jatropha seeds, propagating seedlings for the
company's Jatropha Nursery and transplanting the sprouted seeds to its
expanding Jatropha Plantations. The GreenGold Technology R & D Center will
also serve as the diagnostics center for all other research studies in
developing new technologies on how to enhance fast growing and high quality
biodiesel oil producing jatropha plants.
In some alternative energy development, GreenGold announced last month that
it was negotiating with a group for a joint venture of the company's
expansion in Africa. The plan for this joint venture of GreenGold Ray
Energies is progressing well and now it's in the secondary stage of
negotiation.
In Texas, GreenGold is currently negotiating for the acquisition of 55
acres of farm lands. The company will continue to pursue this USA expansion
and the African joint venture under the same terms and conditions it had
developed in Mindanao Island, Philippines.
A joint venture and working alliance with the African group and expansion
to the USA will mean that GreenGold Ray Energies can increase its
production of the biodiesel oils about two fold or more, thus the company
can respond to the increasing demands for these kinds of products.
ABOUT THE COMPANY:
GreenGold Ray Energies, Inc. (PINKSHEETS: GRYE) is a rapidly growing
biodiesel, green technology and environmental energy company. The Company
had already solidified its position through a highly successful land
acquisition program, acquiring large parcels of land ideal for the
cultivation of the jatropha 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 (for more information about the jatropha plant:
http://en.wikipedia.org/wiki/Jatropha_biodiesel).
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.