Golden Age Resources, Inc. (GDAR) announce important Shareholder Updates
Jun 16, 2015, 06:30 ET
PALM BEACH GARDENS, Fla., June 16, 2015 /PRNewswire/ -- GOLDEN AGE RESOURCES, INC., (OTC PINK: GDAR) a leading energy provider for large-scale "Green" power plants "in Latin America and the Caribbean, today announced two important Shareholder Updates.
The Company announced today that the subsidiary of Golden Age Resources, Inc, Golden Age Resources Mexico S de R.L, has begun the process of obtaining a Federal License by CRE. This new license will allow The Company to offer and sell the daily Kw/h production from the planned Yucatan power by a signed Power Purchase Agreement (PPA) to specific commercial or municipal customers.
This new Federal License has been made possible since the Mexican Senador House approved the "Ley de la Industria Electrica" in August 2014. The first implementations of these Federal Licenses are set to begin in June 2015. This implementation will allow private electricity producers to contract their generated electricity to industrial, commercial and municipal customers.
Because of direct to consumer pricing options, The Company is projecting an increase of the planned revenue by up to 25%. This also allows direct pricing to consumers that can be lower than their current charges to buy their electricity directly from the CFE.
Mr. Thomas Wolff, Vice President of Golden Age Resources Mexico S de R.L. stated: "The pursuit of the Federal License is a great opportunity to expand the possible customer options for the produced electricity. Mexico, through new legal reforms, is continuing to incentivize private companies to produce profitable electricity throughout Mexico."
The Company has also announced the incorporation of proven German and US Technologies to develop and build the Biogas Pilot Plant with the ability to generate reliable, ultra-clean, continuous power from waste of associated methane gas. The Company is in the final steps to conclude ongoing negotiations and will provide updates to the Shareholder as established. This transfer of technology is to replace the previously announced Strategic Partnership Agreement and Purchase Order with GEI Global Energy Corp that has been cancelled.
The Company continues to develop both commercial and residential "Green" energy power production options from both WTE and solar powered systems to increase operational cash flow for the Company.
About Golden Age Resources, Inc.:
GDAR, organized as a Nevada Company, has re-directed its core business to technology and Latin American and International solar energy markets providing project development, medium and long-term finance solutions and investments into solar energy related projects. This re-direction promises enhanced corporate and shareholder values.
Forward Looking Statements: This press release contains "forward looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended and such forward looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements are subject to risks and uncertainties that could cause future results to differ materially from the forward looking statements. You should consider these factors in evaluating the statements herein and not rely on such statements. The forward looking statements in this release are made as of the date hereof and Golden Age Resources, Inc. undertakes no obligation to update such statements.
SOURCE Golden Age Resources, Inc.
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