PASO ROBLES, Calif., June 28, 2016 /PRNewswire/ -- Greenbelt Resources Corporation (OTC: GRCO), an innovator of sustainable energy production systems, announced today that it has successfully secured a $170,000 investment.
The investment form is an unsecured 10% convertible debenture due within one year and convertible into common shares of company stock at a predetermined price. The holder has the option to extend the maturity date at the end of the term and have interest paid in cash or common shares. The note is not registered in the jurisdiction which it was sold in reliance on a registration exemption under the Securities Act of 1933.
"The net proceeds will primarily be used to complete an offering statement for company common stock with the Securities and Exchange Commission via the Regulation A platform and for a targeted sales and marketing campaign focused on our business model. It complements our recent agreement with a banking firm specializing in clean energy technology," noted Joe Pivinski, Greenbelt Resources CFO.
"We have reached a new milestone in our evolution," said Greenbelt Resources CEO Darren Eng. "Investors clearly recognize the validity of both our technology and our plan to raise growth capital to deploy company owned systems and execute our sales and marketing strategies. Our local-scale model has moved another step closer to having a global impact."
About Greenbelt Resources Corporation
Greenbelt Resources Corporation™ is an award-winning provider of sustainable energy production systems focused on delivering modular solutions that enable the localized processing of locally generated waste into locally consumed products. The Company designs, develops and implements technology that makes the production of advanced biofuel reliable, practical and efficient. Controlled by proprietary automated controls, the Company's small-scale, end-to-end modular systems convert food, beverage and other cellulosic wastes into commercially viable advanced biofuels (bio-ethanol), animal feed, fertilizer and filtered water. For more information visit: www.greenbeltresources.com.
This press release does not constitute an offer of any securities for sale and contains certain forward-looking statements. For additional information visit the Greenbelt Resources investors page.
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SOURCE Greenbelt Resources Corporation