GreenAngel Chairman’s Update April 2, 2013

Dear Investor,

We recently filed our 2012 year-end financial statements (click here to view financial statement archive). We reported an unrealized loss for the year because of the write-down in the value of some of our portfolio companies. The audited Net Asset Value per Share is $0.14 – as compared to recent trading around $.09/share.

Two of our companies, Rapid Electric Vehicles Inc and Habitat Enterprises Inc were written down because thes companies, like many startups, needed to reinvent themselves, as the original concepts sometimes don’t roll out as planned. However, they each gave birth to a new venture in which we received founders’ shares (for nominal cost).

The first, Moj.io Inc is a technology that plugs into your vehicle allowing you to locate, monitor, control and even diagnose your car from anywhere using your smart phone. The second is Powerlend, a spin-off from Habitat that provides capital to solar EPC’s and Project Developers and their customers, who need financing for renewable energy projects.

During the 2012 year, we acquired an 8.9% founders’ interest in Mazza Innovation Ltd. by providing management and corporate finance services. Mazza has commercialized a plant extraction technology that uses pressurized low polarity water (PLPW) as opposed to traditional methods of extraction which use harsh solvents. What’s noteworthy about this is that we acquired this position without diluting our shareholders.

It`s our intention to use the Mazza experience as a model for acquiring interests in emerging cleantech companies by playing an active role in their development.

Please note June 4th (10:00 am) as the date for our Annual General Meeting to be held at the SFU Harbour Centre campus. This will be a good opportunity for you to meet some of the companies and learn more about our plans.

Regards,

Mike Volker, Chairman