GRNO Secures US $2 Million Line of Credit With TCA Global Credit Master Fund to Build State-of-the-Art Facility in Montana
Line of Credit to Generate Significant Revenue in Near-Term
(firmenpresse) - EDMONTON, AB -- (Marketwire) -- 06/20/12 -- (PINKSHEETS: GRNO), a Florida corporation, is pleased to announce its wholly owned subsidiary, Custom Carbon Processing Inc. (CCP), has received US $2 million line of credit from the TCA Global Credit Master Fund L.P. (TCA).
The recent funding secured from TCA has been appropriated to the brand new "state-of-the-art" Michels facility located just south of Wibaux, Montana. This includes the designing, materials, construction, administration, labor costs, and equipment required to construct this facility. Additional costs include the equipment required to process oil at this site along with a complete overhaul of the original infrastructure of the injection well. This facility has been in CCP's plans for a long time and has just now come to fruition. Construction of the facility is now 95% complete. More detailed information of this facility along with all its abilities and functions will be available shortly.
This facility will provide Green Oasis Environmental with a strong source of monthly revenue in the near-term.
"Along with our current expansion in the water injection business, our main goal is to become the single best option for reclaiming oil to pipeline specification from waste products such as slop oil and produced and pit waters," said CEO, Peter Margiotta, of Green Oasis Environmental, Inc.
TCA Fund Management Group () as the Investment Manager for TCA Global Credit Master Fund L.P. acts as an advisor to many small companies from its offices in the United States, United Kingdom, and Australia. TCA is a short duration, absolute return fund specializing in senior-secured lending to small, mainly listed companies in the US, Canada, Western Europe, and Australia. The team has a level of domestic and cross-border expertise, long-standing experience with funding innovations, as is reflected in the number of transactions completed. This is a specialist business with an investment approach that fills an important finance gap in many leading markets. TCA provides a unique conduit for investors seeking uncorrelated returns in the small cap debt universe.
Green Oasis - "Green today for a stronger tomorrow"
Green Oasis Environmental, Inc. (GRNO) is dedicated to acquiring and providing access to world class technologies available today and has chosen to focus its efforts on seeking acquisitions of technology and/or operations concerning the remediation of slop oil, injection water, and tank bottom oils. GRNO has every intention of becoming the single best option for reclaiming oil to pipeline specification from these waste products. Through the Company's state-of-the-art technology, GRNO will be able to process these waste products at one of their facilities.
Custom Carbon Processing Inc. (CCP) is a Wyoming based Company formed in 2006 that has been operating in the Gillette, Wyoming area since its inception. Through the technology that CCP has developed, CCP is able to process slop oil (unrefined, non saleable oil) into pipeline standard crude. Its first facility has proven its capabilities to process up to 1,500 barrels of slop oil with a conversion ratio of approximately 50% to finished crude. Through its ongoing contract, CCP sells the processed slop oil to Shell Trading (US) Company (). Shell Trading (US) Company is a corporation that acts as the single market interface for Royal Dutch Shell companies and affiliates in the United States with offices in Houston, TX (headquarters); Dallas, TX; Denver, CO; Midland, TX; and San Antonio, TX; and has an affiliated Shell Trading company in Calgary, Alberta. Shell Trading buys and sells more than five million barrels per day of hydrocarbons, is one of the largest physical traders of hydrocarbons in the United States and one of the world's largest energy trading companies.
In addition to its Wyoming facility, CCP has enjoyed recent expansion by opening a state-of-the-art facility in Montana, home of the Bakken () and Three Forks plays, said to be two of the largest oil plays in North America.
For more information on Green Oasis Environmental, Inc. or Custom Carbon Processing Inc., please visit or contact Investor Relations at (877) 207-3370.
Statements about the Company's future expectations and all other statements in this press release other than historical facts, are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such forward-looking statements be subject to the safe harbors created thereby.
The above information contains information relating to the Company that is based on the beliefs of the Company and/or its management, as well as assumptions made by any information currently available to the Company or its management. When used in this document, the words "anticipate," "estimate," "expect," "intend," "plans," "projects," and similar expressions, as they relate to the Company or its management, are intended to identify forward-looking statements. Such statements reflect the current view of the Company regarding future events and are subject to certain risks, uncertainties and assumptions, including the risks and uncertainties noted. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove to be incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected, intended or projected. In each instance, forward-looking information should be considered in light of the accompanying meaningful cautionary statements herein. Factors that could cause results to differ include, but are not limited to, successful performance of internal plans, the impact of competitive services and pricing and general economic risks and uncertainties.
Contact:
Investor Relations
Taylor Capitol, Inc.
Stephen Taylor
(877) 207-3370
TCA Global Credit Master Fund
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Datum: 20.06.2012 - 11:30 Uhr
Sprache: Deutsch
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