SCOTTSDALE, AZ – via eTeligis - Green Planet Group, Inc. (OTC Pink: GNPG) announced today that its wholly owned subsidiary, Healing the Earth Inc. (HTE), has successfully negotiated the funding to build its "proof of concept" revolutionary growing system that will change the process by which the World produces food for both human and farm animal consumption. HTE has inked this funding deal with Montrose Equity LLC and Yavapai Resources LLC, owners of the site upon which the growing system will operate. This prototype growing system will verify the productivity of the Company's groundbreaking organic growing technology and will validate HTE's three primary concepts: Food on Demand, Food at the Point of Consumption and Fast Track Food.
The terms of the $300,000 investment include an investors' share of twenty percent (20%) of ongoing annual net profits, when generated by the HTE subsidiary (as determined by the Company's auditors) and eight (8) million shares of GNPG stock that are restricted from trading for one year.
Development of the growing system is being immediately initiated and is expected to be producing food within seven (7) months.
- This revolutionary growing system produces 100% organic food naturally, with no GMOs (genetically modified organisms) or chemical fertilizers.
- The system uses up to 90% less water than conventional growing methods and plants grow up to 300% faster.
- GNPG projects that revenues from the HTE subsidiary could exceed $200 million with a net profit of $40 million within the next five years.
GNPG management will immediately begin the patent process and believes that three (3) application patents will be filed within the seven-month development cycle. With proof of the Company technology, it is believed that numerous additional patents will be granted. Green Planet Group CEO Edmond Lonergan stated, "It's exciting that the investment our Company has received will prove our food growing technology is both very efficient and environmentally friendly, while at the same time producing huge volumes of organic, high quality food. Once proven, this technology increases the value of Green Planet Group and therefore has a positive impact on shareholder value."
Lonergan continued, "Further, this technology is capable of feeding a family, a city, or an entire country. HTE revenues will be generated from growing system sales as well as from licensing, royalties and distributor agreements. It is impossible to deny the impact of droughts, such as those currently being experienced here in the Western U.S., and the reality of global climate change. Our Healing the Earth Food Growing Systems provide life-sustaining answers to these issues. Imagine using this technology in your backyard, garage or neighborhood to grow the highest quality, freshest, all-organic food for your family and friends."
About Green Planet Group, Inc.
The Company is comprised of five wholly owned subsidiaries: one operating company and four development companies. XenTx Lubricants, Inc. produces lubricants and additives for gasoline and diesel engines. Arizona Independent Power Company is a development stage company holding rights to the Verde Pumped Storage Project. AAQIS, Inc. is developing a hydrogen generator which greatly reduces hydrocarbon emissions while improving fuel efficiency in internal combustion engines. Green Mining Technologies, Inc. is developing green technologies for the mining of precious metals. The Company's Healing the Earth subsidiary is developing a new "fast track" growing system capable of growing vast amounts of fresh, organic food.
Forward-Looking Statements
Certain statements contained herein are "forward-looking" statements (as defined -- Private Securities Litigation Reform Act of 1995). Green Planet Group, Inc. cautions that the statements made in this press release constitute forward-looking statements and no guarantees of future performance and actual results or developments may differ materially from projections in forward-looking statements. Forward-looking statements are based on estimates and opinions of management at time the statements are made.
Contact:
Jim Schoenberger
602 614-0919
SOURCE: Green Planet Group
Associated Documentation:
Link to submission on http://www.eteligis.com
GNPG_2-27-14_LST_ETL.docx
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