GreenAngel Investee Mazza Receives 175K Federal Investment

Vancouver, BC, Oct. 16, 2012 — GreenAngel Energy Corp (“GreenAngel”) (TSX-V: GAE) proudly announces that the Canadian Federal Government has contributed $175,000 to GreenAngel investee Mazza Innovation Ltd. Member of Parliament Dan Albas (Okanagan-Coquihalla), on behalf of Agriculture Minister Gerry Ritz, travelled to Summerland to announce the news. The funds were provided with the specific intent to help scale up Mazza’s novel, environmentally-friendly phytochemical extraction process.

“This is a great example of what we are trying to achieve with our investments in innovation and commercialization,” said MP Albas. “Our Government is proud to support novel projects like this one, which find environmentally-conscious ways to help farmers add value to their crops. Bringing new ideas to the market will keep Canada’s agricultural sector strong and sustainable.”

Bruce Schmidt, CEO of GreenAngel Energy comments, “This funding and its arduous peer review approval process indicates the high level of scientific merit driving Mazza Innovation’s technology. This directly translates into world-class processes for the extraction of high-value plant derived chemicals. With that comes higher quality products and greater profit margins for users of Mazza’s technologies.”

This technology could likely fill a gap in the rapidly growing nutraceuticals market. Consumers are more frequently looking for food products with health and medical benefits that can help protect against disease. This technology can open new markets for farmers by creating value-added opportunities for their crops.

ON BEHALF OF THE BOARD

Bruce Schmidt
CEO and Director

About GreenAngel Energy

GreenAngel Energy Corp. is the first publicly traded company that invests solely in emerging private green technology companies. We provide an avenue for public investors to gain access to a portfolio of the most promising angel-stage investments across a spectrum of green technology sectors. 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 mentors and advises investees to help ensure these companies achieve commercial success. The firms include Delaware Power Systems, Mazza Innovation, Light-Based Technologies, Habitat Carbon Assets, Rapid Electric Vehicles, DPoint Technologies, and Paradigm Environmental Technologies.

For further information, contact:

Investor:

Bruce Schmidt, CEO
GreenAngel Energy Corp.

Email: bruce@greenangelenergy.ca

Media:

Ryan Schmidt
GAE Corporate Development

Phone: 778.829.3280
Email: ryan@greenangelenergy.ca

Disclaimer for Forward-Looking Information

Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the Company’s listing of its common shares on the TSX Venture Exchange. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them.