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Greenbelt Resources Shareholders Re-Elect Standing Board of Directors
MINNEAPOLIS, Nov 09, 2007 -- Greenbelt Resources (Pink Sheets:GRCO) formally ONYI, the leading innovator in the development of practical and economical alternative energy technologies announced today it held its first annual shareholders meeting in St. Paul on November 5th. During the meeting, at which a quorum was present, shareholders unanimously re-elected its standing Board of Directors including Robert Johnson, Vinton Lewis, Taylor Moffitt and Floyd Butterfield. Immediately following the meeting, a Directors Meeting was held in the corporations new Burnsville office, located at 1601 Southcross Dr. W., at which time the Board appointed Johnson as CEO/President & Chairman of the Board; Lewis as V.P./Sec.; and Butterfield as Treasurer.
"The Board has worked endlessly and made many difficult decisions, such as its recent move to Minneapolis, and this election validates our direction and our cohesiveness as a team," commented Johnson. To date, we have been quietly working to change the alternative energy marketplace behind the scenes and that is about to change, as reported by Director of Marketing, Vinton Lewis. Lewis told the shareholders, "We are in the process of finalizing several plant sales and ready to introduce several new joint ventures. With each exciting product a news release will be forthcoming."
A question and answer period followed the election, at which time shareholders had the opportunity to inquire about the current progress of the company's law suit against USSEC, John Rivera and Redwood Consultants. Director Johnson read a prepared statement from the company's legal counsel. Following the meeting being adjourned, Johnson reminded the shareholders they could review the meeting on the corporate website and then invited them to visit the new offices in Burnsville.
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This press release does not constitute an offer of any securities for sale. This press release contains certain forward-looking statements. These forward-looking statements involve certain risks & uncertainties that could cause actual results to differ, including, without limitation, the company's limited operating history & history of losses, the inability to successfully obtain further funding, the inability to raise capital on terms acceptable to the company, the inability to compete effectively in the marketplace, the inability to complete the proposed acquisition and such other risks that could cause the actual results to differ materially from those contained in the company's projections or forward-looking statements. All forward-looking statements in this press release are based on information available to the company as of the date hereof, and the company undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.