Terra Systems, Inc. Board of Directors Provide Financial Backing of Coal Upgrading Project
13 Décembre 2007 - 3:00PM
PR Newswire (US)
SALT LAKE CITY, Dec. 13 /PRNewswire-FirstCall/ -- Terra Systems,
Inc. (OTC:TSYI) (BULLETIN BOARD: TSYI) -- With the unanimous
backing of the Board of Directors of Terra Systems, Inc. a $500,000
Line of Credit ("LOC") has been obtained from US Bank. The LOC will
be used to accelerate TSYI's carbon upgrading project. Advances
under the LOC are subject to the approval of the guarantors. In the
weeks to come, TSYI will begin to reclaim, process and upgrade
by-product coal stockpiles from the historic Hiawatha Coal District
near Price, Utah. The project intends to utilize TSYI's patented
and proprietary Pneumatic Accelerator System (PAS) Technology. The
Hiawatha coal piles will be upgraded by removing ash and rock from
the coal. Reynold Roeder, Chairman of the Board of Directors of
TSYI stated, "The united commitment of the entire Board of
Directors of Terra Systems, Inc. to financially back the Hiawatha
coal upgrading project is evidence of the confidence the Board has
in the long term potential of Terra's technology, its management
and its upside growth". George Ford, President of TSYI said, "The
energy and momentum the new members of the Board of Directors have
brought to Terra will allow us to begin implementing the strategy
the Company has developed over the past months". Terra Systems,
Inc. is a clean energy technology company focused on advanced clean
energy generation, enhancement and utilization of waste coal and
upgrading of specialty carbon products. Please refer to
http://www.tsyi.com/ for more information. Note: Certain statements
contained herein may be forward-looking statements within the
meaning of federal securities laws and Terra Systems, Inc. intends
that such forward-looking statements be subject to the safe-harbor
created thereby. Forward-looking statements include Terra Systems,
Inc. expectations as to the managing and marketing of its
businesses within the meaning of the Private Securities Litigation
Reform Act of 1995 regarding future events and our future results
that are based on current expectations, estimates, forecasts, and
projections about the industries in which we operate and the
beliefs and assumptions of our management. Actual results may vary
materially from such expectations. Words such as "expects,"
"anticipates," "targets," "goals," "projects," believes," "seeks,"
"estimates," variations of such words, and similar expressions are
intended to identify such forward-looking statements. Any
statements that refer to projections of our future financial
performance, our anticipated growth and trends in our businesses,
and other characterizations of future events or circumstances, are
forward-looking. Although Terra Systems, Inc. believes that its
expectations are based on reasonable assumptions within the bounds
of its knowledge of its business and operations, there can be no
assurance that our results of operations will not be adversely
affected by such factors. Unless legally required, we undertake no
obligation to revise or update any forward-looking statements for
any reason. Readers are cautioned not to place undue reliance on
these forward-looking statements, which speak only as of the date
of this statement. DATASOURCE: Terra Systems, Inc. CONTACT: George
Ford of Terra Systems, Inc., +1-801-208-1289, Web site:
http://www.tsyi.com/
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