VIASPACE Insiders Extend Lock-up of Shares
WALNUT, Calif., March 26, 2013 /PRNewswire/ -- VIASPACE Inc. (OTCQB: VSPC) today announced that the VIASPACE Board of Directors, including Chairman, Dr. Kevin Schewe; CEO, Dr. Carl Kukkonen and Angelina Galiteva have all agreed to extend the lock-up of their VIASPACE common stock shares for an additional 90 days, through June 30, 2013. Moreover, VIASPACE CFO, Mr. Stephen Muzi; Director of Communications, Dr. Jan Vandersande and Director of Social Media Outreach, Ms. Jaclyn Kenner, have also agreed to lock-up their VSPC common shares through June 30, 2013. In total, this extension of the lock-up of insider selling represents approximately 240,000,000 common shares that will not be sold during this extended lock-up period.
Dr. Schewe commented, "The VIASPACE Board and Management have been extremely pleased with the performance of VIASPACE since becoming a free-standing company on October 1, 2012. At that time, we announced a 6-month lock-up of insider share sales. Given the pace of our corporate progress and the momentum that we have achieved, we felt it important to continue the lock-up for another 90 days as we work hard to continue to increase the scope of our general shareholder base of investors. In addition, Dr. Kukkonen has two significant foreign trips to meet with clients in April and we are looking forward to sharing the news of those trips and providing exciting updates on existing projects in the near future."
About VIASPACE Inc.
VIASPACE grows renewable Giant King™ Grass as a low-carbon fuel for clean electricity generation; for environmentally friendly energy pellets; and as a feedstock for bio-methane production and for green cellulosic biofuels, biochemicals and biomaterials. Giant King Grass is a proprietary, high yield, dedicated biomass clean energy crop that does not compete with or displace food production. For more information, please go to www.VIASPACE.com or contact Dr. Jan Vandersande, Director of Communications, at 800-517-8050 or IR@VIASPACE.com.
Safe Harbor Statement
Information in this news release includes forward-looking statements. These forward-looking statements relate to future events or future performance and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from those expressed or implied by these forward-looking statements. Such factors include, without limitation, risks outlined in our periodic filings with the U.S. Securities and Exchange Commission, including Annual Report on Form 10-K for the year ended December 31, 2011, and other factors over which VIASPACE has little or no control.
SOURCE VIASPACE Inc.