Green Star Cancels Auction
19 Août 2010 - 5:53PM
Marketwired
Green Star Products, Inc. (PINKSHEETS: GSPI) and its Consortium
today announced that they would be canceling the auction of their
proprietary algae growth biotechnology national licensing rights
which was scheduled to go into auction on September 9, 2010. Please
see press release dated March 10, 2010 titled "Green Star
Consortium to Offer Game Changing Biotechnology on Wall Street."
Green Star's President, Mr. Joseph LaStella, stated, "The
auction was canceled because Green Star Products and its Consortium
has entered into final negotiations to build the largest closed
vertical algae bioreactor in the world here in the United States
(initial phase planned for 10,000,000 liter continuous culture).
The auction on September 9th was to offer the algae growth
biotechnology for the United States only. The plans to auction this
technology in other countries will still proceed as planned."
Mr. LaStella also stated, "The auction of the U.S. technology
rights may be postponed indefinitely pending the outcome of the
final negotiations to build the world's largest algae
bioreactor."
About Green Star Products Green Star
Products, Inc. (PINKSHEETS: GSPI) is an environmentally friendly
public company dedicated to creating innovative cost-effective
products to improve the quality of life and clean up the
environment. GSPI and its Consortium are involved in the production
of green sustainable goods including renewable resources like algae
biodiesel and clean-burning biofuels, cellulosic ethanol and other
green products, as well as lubricants, additives and devices that
reduce emissions and improve fuel economy in vehicles, machinery
and power plants. For more information visit
http://www.GreenStarUSA.com, or call 1-800-741-7648 and
1-800-340-9784, fax 619-789-4743, or email
info@GreenStarUSA.com.
Forward-looking statements in the release are made pursuant to
the "safe harbor" provisions of the Private Securities Litigation
Reform Act of 1995. Investors are cautioned that such
forward-looking statements involve risks and uncertainties,
including without limitation, continued acceptance of the company's
products, increased levels of competition, new products and
technological changes, dependence on third-party suppliers, and
other risks detailed from time to time in the company's periodic
filings.
CONTACT: Joseph LaStella President Green Star Products, Inc.
800-741-7648 800-340-9784 619-864-4010 619-789-4743 (fax)
info@GreenStarUSA.com
Green Star Products (PK) (USOTC:GSPI)
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