Future Funds Secured for Long Term Success
Phoenix, AZ — (June 16, 2021) – Green Planet Group, Inc. (OTC PINK: GNPG), an emerging leader in green technology, announced today that it has secured and received funding in its most recent capital raise. Green Planet Group was able to raise funds in record time due to overwhelming interest in vertical organic farming and specifically the company’s patented growing technology providing for faster plant growth with its organic nutrients. The funding will provide Green Planet Group with enough operating capital for the next couple years. The investors have already committed additional funds, as needed, for specific projects. The current funding round will provide the capital to:
- Complete the building improvements for its new “World Headquarters.”
- Complete the installation of the first- and second-generation growing system in the new world headquarters.
- Initiate the urban farm, including the hiring and training of staff. Once completely operational, the urban farm will begin to generate monthly revenues in excess of $37,000.
- Upgrade computer systems to allow the ability to continuously monitor customers’ growing systems worldwide, ensuring that each system is producing at its maximum potential.
- Update accounting systems, allowing the company to take full advantage of its $21.6 million Non-Operating Loss (NOL) carryforward, which will reduce future corporate taxes and improve profitability.
- Update marketing and sales programs to include the second-generation growing system and attend agricultural trade shows later this year.
President/CEO Edmond L. Lonergan stated “securing this funding allows the company’s management to concentrate on its growth, while continuing to develop its technologies”. Lonergan continued “having funding partners that are passionate about high quality organic food production creates a team focused on advancing the health and natural wealth of our planet.”
For more corporate information, see the company’s newly designed website, www.greenplanetgroup.com.
About Green Planet Group, Inc.
The Company is comprised of four wholly owned subsidiaries: two operating companies and two development stage companies. The Company’s Healing the Earth subsidiary has developed a new Fast Track™ growing system capable of growing vast amounts of fresh, organic food with extremely low water use. XenTx Lubricants produces lubricants and additives for gasoline and diesel engines which reduce emissions and improve fuel economy. AAQIS is developing a hydrogen generator which greatly reduces hydrocarbon emissions while improving fuel efficiency in internal combustion engines. Green Mining Technologies is developing restorative technology for placer mine tailings.
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 may differ materially from projections in forward-looking statements. Forward-looking statements are based on estimates and opinions of management at the time the statements are made.
Edmond L. Lonergan, CEO