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Greenbelt Resources Announces Change on the Board of Directors
MINNEAPOLIS, Dec 24, 2007 -- Greenbelt Resources (Pink Sheets:GRCO), and its wholly owned subsidiary, Diversified Ethanol Corporation announced today that Taylor Moffitt, the two companies' founder and long time Board Member, has submitted his resignation from both corporations effective immediately.
Mr. Moffitt stated in his resignation, "I've been honored to serve as a Board Member. The company now has a superb and growing management team established; projects slated, ordered, and awaiting permits; and demand for company products with multiple pending sales. I am solidly confident that management will continue heading in its course of growth and success--in 2008 and in the years to come." He further reflected that while he wishes to avoid any possible conflicts, he plans to be active with another publicly traded company and will not have the time to do justice to both companies in the future. He encouraged the two boards to look for additional board members having experience in the dairy and waste management systems and in the biodiesel & ethanol fields and would recommend names to the board should they request as any current or future stockholder would want success for the company. Moffitt wished to state publicly that he will continue to have and keep GRCO stock, and will continue to be an actively supportive shareholder long term.
Robert Johnson, CEO of GRC, thanked Mr. Moffitt for his dedicated service and reflected the companies would be interviewing for a replacement after the first of the year as the resignation was unexpected.
Johnson also extends Holiday Greetings to all shareholders and is excited about the future of the company in 2008 & the years ahead. He reflected many news items on the companies growth will be released in the very near future.
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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.