Geo Point Technologies, Inc. Announces New Name, RTS Oil Holdings, Inc., and Ticker Symbol, RTSO Company completes rebranding; Focused on oil production and distribution in Kazakhstan
SALT LAKE CITY, July 3, 2013 /PRNewswire/ -- Geo Point Technologies, Inc. (OTCBB: GNNC) (the "Company" or "Geo Point"), the owner of a modern, environmentally friendly oil refinery in Karatau, Kazakhstan that refines crude oil into diesel fuel, gasoline, and mazut (a heating oil), today announced that on Tuesday, July 2, 2013, the Company changed its name to RTS Oil Holdings, Inc., and its common stock began trading under a new ticker symbol, RTSO.
As previously announced, on May 8, 2013, the Company completed the acquisition of RTS-Oil LLP ("RTS") and announced a new CEO, as well as changes to its officers and directors. RTS specializes in wholesale and retail distribution of finished oil products in the southern region of Kazakhstan, including population centers Jambyl, Shymkent and Almaty. RTS is one of the largest distributors in the wholesale markets in these regions, with 20 petrol stations and seven crude oil and fuel terminals. RTS owns or has long-term leases for fuel tank farms with total storage capacity of more than 40,000 tons (about 280,000 barrels, or 11.8 million gallons) of refined finished oil products such as diesel fuel and gasoline.
As a result of the acquisition, the Company integrated RTS into Sinur-Oil LLP, a previously acquired entity. The name of the post-acquisition company will be "RTS Oil Holdings, Inc." As a result of the acquisition and integration, the Company now has the ability to refine a variety of oil products and distribute them throughout Kazakhstan, a nation with significant oil reserves but a lack of refining capacity.
About RTS Oil Holdings, Inc.
RTS Oil Holdings, Inc. (OTC BB: RTSO), through its RTS subsidiary, operates 20 petrol stations and seven crude oil and fuel terminals with a total capacity of 40,000 tons (approximately 280,000 barrels, or 11.8 million gallons) in southern Kazakhstan. The Company's Sinur subsidiary owns and operates a modern, environmentally friendly oil refinery in Karatau, Kazakhstan. Using new, advanced technology, this strategically located facility refines crude oil into diesel fuel, gasoline, and mazut, a heating oil.
Legal Notice Regarding Forward-Looking Statements: "Forward-looking Statements" as defined in the Private Securities litigation Reform Act of 1995 may be included in this press release. These statements relate to future events or our future financial performance. These statements are only predictions and may differ materially from actual future results or events. We disclaim any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. There are important risk factors that could cause actual results to differ from those contained in forward-looking statements, including, but not limited to risks associated with changes in general economic and business conditions, actions of our competitors, the extent to which we are able to develop new services and markets for our services, the time and expense involved in such development activities, the level of demand and market acceptance of our services and products or changes in our business strategies.
Brett Maas, Managing Partner
RTS Oil Holdings, Inc.
2319 Foothill Drive, Suite 160
Salt Lake City, Utah 84109
SOURCE RTS Oil Holdings, Inc.