THE GREEN ENERGY BLOG

Green Energy Resources Announces 10% Stock Dividend, Updates Merger News

NEW YORK, Dec. 14 /PRNewswire-FirstCall/ — Green Energy Resources (OTC Pinksheets: GRGR) announced a 10% stock dividend to shareholders; the execution date will be set in January with cut off date likely to be end of December. Green Energy Resources paid dividends in 2006 and 2007 but suspended dividends in 2008 in the wake of the global economic disaster. Green Energy Resources executives will return dividends to the treasury as they have done in the past.

Merger News

– Green Energy Resources remains in merger negotiations and plans to make a decision regarding the latest offer by the end of December. Discussions are ongoing with the coal and energy company looking to expand to large scale co-firing. The deal includes the coal company’s $75 million dollars in bookable hard coal reserve assets and approximately $20 million per year in current operating revenues. Green Energy Resources would be the surviving entity but cede senior executive positions as well as Board positions. Final negotiations center on a cash investment of several million dollars into the company that would include a massive stock buy back rather than a planned reverse split. The two companies have been in discussions since September and have already completed due diligence. Green Energy Resources and the coal energy company are planning to partner on developing pellet plants, coal and biomass blending, (eco-green coal), carbon trading, and large scale supply of wood biomass feedstock to US coal power generators.

Green Energy Resources has been an active merger target with the emergence of renewables in the United States under the new presidential administration. Green Energy offers potentially huge financial benefits to traditional fossil fuel power generators under a (cap n trade) System, including carbon credits, carbon offsets and federal funding through Bcap to name a few. Green Energy Resources turned down a bid earlier this year from an oil and gas company due to an insufficient cash infusion. Green Energy Resources CEO, Joseph Murray has indicated he will listen to any deal that makes sense, further develops green technologies and benefits stockholders.

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, ship availability, fuel costs and other risks.

SOURCE Green Energy Resources