(Vancouver, BC, November 30, 2010) GreenAngel Energy Corp. (“GreenAngel”) (TSX-V: GAE) is pleased to announce the creation of a new tax-advantaged fund, GreenAngel Technology Ventures (VCC) Corp. This angel fund will invest in BC’s most promising clean energy technology businesses. Shares in the new VCC will be available to accredited investors and other subscribers that can rely on a prospectus exemption. In return for management of the green investment fund, GreenAngel Energy will receive a nominal management fee plus a share of proceeds when the fund matures.
GreenAngel Energy has demonstrated an impressive track record for selecting industry leaders in green energy technology (Green Tech). Returns on its initial green investments have acheived significant increases through venture investments into dPoint Technologies, Light-Based Technologies and Delaware Power Systems. The new VCC is a great way for GreenAngel Energy to build on these early successes and expand its reach while best of all, not diluting existing shareholders.
If you are interested in becoming a shareholder in GreenAngel Technology Ventures (VCC) Corp, please refer to our web site: GreenAngel Technology Ventures (VCC) for details. Subscribers who invest before the end of February will be eligible for a tax credit that can be applied back to the 2010 tax year. The tax credit is fully refundable and applies to investments of up to $200,000 per individual.
About GreenAngel Energy
GreenAngel Energy Corp. is a green energy technology company. Our focus is commercializing new technologies that produce renewable energy, improve energy efficiency, or use renewable energy resources such as water, wind and solar. We also work with companies that deploy or manage technologies and processes that reduce greenhouse gas (GHG) emissions. In addition to providing strategic capital to investee companies, GreenAngel also provides business and advisory services to help ensure these companies achieve commercial success. The firms include Delaware Power Systems, Light-Based Technologies, Habitat Enterprises, Rapid Electric Vehicles, DPoint Technologies, and Paradigm Environmental Technologies.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
ON BEHALF OF THE BOARD
Bob de Wit
CEO and Director