Green Star Alternative Energy Announces Removal Of Caveat Emptor Warning
Submitted by SmallCapVoice.com
Green Star Alternative Energy, Inc. (Pink Sheets:GSAE; “GSAE” or the “Company”) (http://www.greenstarae.com) is pleased to announce that Pink OTC Markets, Inc. has removed the “skull and cross bones” caveat emptor warning on the webpage showing the Company’s Common Stock.
The Company reports that on June 4, 2009, the Company received a fax from the British Columbia Securities Commission informing the Company that the Commission had issued a Cease Trade Order on the basis that the Commission determined, without prior notice or a hearing, that the Company was obligated to file and did not file a report containing certain disclosures with the Commission as required by provincial laws.
While the Company was, prior to receiving the Order, unaware that it was subject to the jurisdiction of the laws of British Columbia or that any such Cease Trade Order was being considered or issued by the British Columbia Securities Commission, the Company has commenced an investigation into the matter and the basis upon which the Canadian province is able to assert jurisdiction and whether the Order, as issued, fully satisfies procedural due process protections.
Notwithstanding the discovery of the Order, the Company previously filed Form 10 with the Securities and Exchange Commission on April 15, 2009 in an effort to register its Common Stock under Section 12(g) of the Securities Exchange Act of 1934. In light of the filing of the Form 10 with the SEC, the Company believes that the disclosures it has provided in its Form 10 and those that it will be providing in other periodic reports to be filed with the SEC in the future will fully and accurately disclose its affairs to ensure that investors and the capital markets can make informed investment decisions regarding the Company and its securities.
About Green Star Alternative Energy (OTCPK: GSAE)
Green Star Alternative Energy is an environmentally conscious, renewable energy company working to develop more than 300 MW (megawatts) of clean electricity through wind energy. The corporate revenue model is two-fold: the use of a renewable resource allows not only for the creation of environmentally friendly energy, but the granting of carbon (greenhouse gas) emission credits which may be traded and sold. Green Star is pursuing a significant opportunity to provide clean energy to the growing Republic of Serbia and neighbouring European countries. Through a joint venture with key wind farm and power trading company Notos, Green Star will become the nation’s first developer of wind power. GSAE is focused on green technology and sustainable energy programs like wind turbines, hydro electric power generation, and other renewable electricity models.
FORWARD-LOOKING STATEMENTS
This press release contains ‘forward-looking statements’. These are statements concerning plans, objectives, goals, strategies, expectations, estimates, intentions, projections, developments, future events, or performance, underlying (expressed or implied) assumptions and other statements that are other than historical facts. In some cases forward-looking statements can be identified by the use of forward-looking words such as ‘believes,’ ‘expects,’ ‘may,’ ‘will,’ ’should,’ or ‘anticipates,’ ‘estimates,’ or the negative of these words or other variations of these words or comparable words, or by discussions of plans or strategy that involve risks and uncertainties. Management wishes to caution the reader that these forward-looking statements, including, but not limited to, statements regarding the Company’s plans, goals the estimates and assumptions, and the business strategy of the Company and other matters that are not historical facts are only predictions. No assurances can be given that such predictions and the estimates regarding mineral reserves, success of mining plans, or other projections will prove correct or that the anticipated future results will be achieved. Actual events or results may differ materially. Forward-looking statements should be read in light of the cautionary statements and risks that include, but are not limited to, the risks associated with a small company, the intense competition the company faces from others, and technological changes. Any one or more of these or other risks could cause actual results to differ materially from the future results indicated, expressed, or implied in such forward-looking statements.
Green Star Alternative Energy
Jesse De Castro, CFO
1-866-955-GSAE (4723)
info@greenstarae.com
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June 25th, 2009 at 10:13 pm
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