Green States Energy, Inc. Comments on BSX Listing and Effectiveness of Stock Split
NEW JERSEY, November 27, 2012 -- Green States Energy, Inc., a clean energy independent power producer, announced that, effective as of November 26, 2012, its common stock was listed on the Bermuda Stock Exchange (BSX) under the symbol "GSE.BH". The listing comes under Section IIIA of the BSX regulations and as such trading is restricted to Qualified Investors. Immediately prior to the listing, Green States Energy has affected a 2-for-1 stock split of its common stock.
Stephen H Clevett, the Company’s CEO, said “Green States Energy is in a capital intensive global business, which means we require stock markets where equity finance is readily available, and which attract international as well as domestic, institutional and private investor interest. The BSX is a perfect fit for us given its international recognitions and its membership in the World Federation of Exchanges (WFE). The BSX, through the BSX Mezzanine Market, a board designed for small and medium development stage enterprises, offers us the opportunity to list on an internationally recognized stock exchange at an earlier stage than is currently possible in many other jurisdictions. Our listing on the Bermuda Stock Exchange is an important step in the process of positioning Green States Energy to attract the necessary capital to grow our business in both Europe as well as in the Americas”.
This press release does not constitute an offer to sell, or the solicitation of an offer to buy, these securities, nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale is not permitted.
About Green States Energy
Headquartered in Short Hills, New Jersey, Green States Energy, Inc. is an Independent Power Producer (IPP) that acquires, develops, and operates clean electric generating plants the Americas and Europe. The Company currently owns six operating solar PV power plants in the U.S. with a total output of more than 5MW and is scheduled to close on the acquisition of a second 5MW solar PV portfolio by year end 2012. Near term plans also include the acquisition of another three solar PV projects with an aggregate capacity of over 10MW. The Company’s project pipeline comprises over 200MW that includes solar PV, biomass, and cogeneration/CHP projects. GSE plans to complete the acquisition and development of over 200MW of clean energy projects by 2017.
Certain statements in this press release are “forward-looking statements" within the meaning of the “safe-harbor” provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve known and unknown risks, uncertainties and other factors that could cause the actual results of the Company to differ materially from the results expressed or implied by such statements, including changes from anticipated levels of sales, future national or regional economic and competitive conditions, changes in relationships with customers, access to capital, difficulties in developing and marketing new products, marketing existing products, customer acceptance of existing and new products, the Company’s ability to complete additional acquisitions and other factors. Accordingly, although the Company believes that the expectations reflected in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. The Company has no obligation to update the forward-looking information contained in this presentation.
Green States Energy, Inc.
Chief Financial Officer