Message #13 From:
NewsBot Date: March 1, 2008 01:31:10 PM
Green Energy Resources Signs $15 Million Sale of Woodchips to China
'GRGR' Grows 12 Times in 2007 With No Debt; Plans 2008 Cash Dividend
Green Energy Resources (PINKSHEETS: GRGR)
signed a $15 million sale of woodchips to China. The sale is the 2nd in 3
months contracted by Green Energy Resources destined for China. The exports
are expected to begin in the 2nd quarter of this year. The deal puts GRGR
on a pace to meet or exceed 2007 growth levels.
Green Energy Resources is expanding sourcing of woodchips to California,
Oregon, and Washington from its current supply bases in Massachusetts and
North Carolina. "GRGR" company executives are actively seeking strategic
partners in the region for the near one million tons of woodchips required
annually for exports. The order comes at a time when lumber production in
the northwest has slowed due to the housing and construction declines and
many mills are contemplating closing.
In other company news, Green Energy Resources plans to offer shareholders a
cash dividend in 2008. Green Energy Resources issued a 5% stock dividend in
2006 and a 10% stock dividend in 2007. No set date or action has yet been
finalized.
Except for historical information contained herein, the statements in this
release are forward-looking statements that are made pursuant to the safe
harbor provision of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements involve known and unknown risks and
uncertainties that may cause the companies' actual results in future
periods to differ materially from forecasted results. Such risks and
uncertainties include, but are not limited to, market conditions,
competitive factors, the ability to successfully complete additional
financings and other risks.
