GTSO Initiates Talks to Acquire Rare Earth Exporters of Mongolia
A Successful Acquisition Could Prove to be a Very Lucrative Opportunity.
SAN JOSE, Calif.--(EON: Enhanced Online News)--Green Technology Solutions Inc. (OTCQB: GTSO) today announced that it is in talks to acquire Rare Earth Exporters of Mongolia (REE).
The two companies formed a joint venture in February to procure and develop rare earth mining claims and operations inside the developing Asian nation.
REE is headquartered in the Mongolian capital, Ulan Bator. The company’s stated mission is to develop new rare earth mining operations in Mongolia, helping to ensure stable and affordable supply lines to the U.S., Japan and South Korea as the world’s dominant producer, China, tightens its grip on its own reserves. The emerging superpower currently supplies more than 95 percent of the world’s rare elements, but recent rare earth policy decisions by the Chinese government have led many experts to speculate that exploding demand for rare earths could soon go unmet. In the last few months, China announced stricter emission limits on miners, crackdowns on illegal mining, cuts in export quota and a new resources tax. The Chinese Ministry of Land and Resources also announced that it will not grant any new licenses for rare earths prospecting and mining before June 30, 2012.
Mongolia, China’s neighbor to the north, is uniquely positioned to become the new frontier of rare earth exploration. The majority of China’s rare earth reserves are mined in the country’s Inner Mongolia region, which borders the nation of Mongolia. Rare Earth Exporters of Mongolia, through its joint venture with GTSO, has secured multiple deals on new mining sites and operations in the former Communist state. By acquiring REE, Green Technology Solutions stands to take the lead in the region and capitalize on the incredible growth of rare earth exploration in Mongolia.
“This acquisition is being pursued because we expect to break ground on several new mining projects in Mongolia very soon,” said GTSO President and CEO John Shearer. “In large part due to the actions of China, the market dynamics of the global rare earths industry are poised to produce explosive returns in the coming months and years. Making REE a wholly owned subsidiary of GTSO is a potentially lucrative opportunity that we are thrilled to be exploring.”
GTSO and REE are currently finishing up their due diligence toward the acquisition of mining rights to four mineral-rich sites in Mongolia. If GTSO’s purchase of REE is successful, Green Technology Solutions would own the sole rights to those properties. The company announced earlier this month that it expects to make its first shipment of rare earth ores from Mongolia to the international seaport of Vladivostok, Russia, in May.
“The response we’ve gotten from around the world to our efforts in Mongolia have convinced us that there is great and growing demand for these exports,” Shearer said. “GTSO’s potential acquisition of REE could make our development of new mining operations there a tremendously profitable endeavor for Green Technology Solutions.”
For more information on Rare Earth Exporters of Mongolia, please visit http://www.rareearthexporters.com.
Green Technology Solutions commercializes clean and renewable mining technology and products in a sector that includes Rare Element Resources Ltd. (AMEX: REE), MV Rare Earth/Strategic Metals (NYSEArca:REMX), Danaher Corp. (NYSE: DHR) and Ivanhoe Mines Ltd. (NYSE: IVN).
About Green Technology Solutions, Inc.
Green Technology Solutions, Inc. (GTSO) is an OTCQB publicly traded company. OTCQB is the middle tier of the OTC market. OTCQB companies report to the SEC or a U.S. banking regulator, making it easy for investors to identify companies that are current in their reporting obligations. GTSO acquires, develops and implements the newest clean mining technology to enable our partner clients to expand operations throughout the world. Environmental restrictions represent the largest restriction to mining industry growth and operations. GTSO focuses on overcoming these environmental restrictions with brilliant cutting-edge clean mining technology.
For more information, please visit http://www.GreenTech-Solutions.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words “believes,” “expects,” “anticipate” or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone’s past success, either financial or strategic, is no guarantee of future success. This news release speaks as of the date first set forth above and the company assumes no responsibility to update the information included herein for events occurring after the date hereof.
Contacts
Green Technology Solutions, Inc.
John Shearer, 408-432-7285
President and CEO
SAN JOSE, Calif.--(EON: Enhanced Online News)--Green Technology Solutions Inc. (OTCQB: GTSO) today announced that it is in talks to acquire Rare Earth Exporters of Mongolia (REE).
The two companies formed a joint venture in February to procure and develop rare earth mining claims and operations inside the developing Asian nation.
REE is headquartered in the Mongolian capital, Ulan Bator. The company’s stated mission is to develop new rare earth mining operations in Mongolia, helping to ensure stable and affordable supply lines to the U.S., Japan and South Korea as the world’s dominant producer, China, tightens its grip on its own reserves. The emerging superpower currently supplies more than 95 percent of the world’s rare elements, but recent rare earth policy decisions by the Chinese government have led many experts to speculate that exploding demand for rare earths could soon go unmet. In the last few months, China announced stricter emission limits on miners, crackdowns on illegal mining, cuts in export quota and a new resources tax. The Chinese Ministry of Land and Resources also announced that it will not grant any new licenses for rare earths prospecting and mining before June 30, 2012.
Mongolia, China’s neighbor to the north, is uniquely positioned to become the new frontier of rare earth exploration. The majority of China’s rare earth reserves are mined in the country’s Inner Mongolia region, which borders the nation of Mongolia. Rare Earth Exporters of Mongolia, through its joint venture with GTSO, has secured multiple deals on new mining sites and operations in the former Communist state. By acquiring REE, Green Technology Solutions stands to take the lead in the region and capitalize on the incredible growth of rare earth exploration in Mongolia.
“This acquisition is being pursued because we expect to break ground on several new mining projects in Mongolia very soon,” said GTSO President and CEO John Shearer. “In large part due to the actions of China, the market dynamics of the global rare earths industry are poised to produce explosive returns in the coming months and years. Making REE a wholly owned subsidiary of GTSO is a potentially lucrative opportunity that we are thrilled to be exploring.”
GTSO and REE are currently finishing up their due diligence toward the acquisition of mining rights to four mineral-rich sites in Mongolia. If GTSO’s purchase of REE is successful, Green Technology Solutions would own the sole rights to those properties. The company announced earlier this month that it expects to make its first shipment of rare earth ores from Mongolia to the international seaport of Vladivostok, Russia, in May.
“The response we’ve gotten from around the world to our efforts in Mongolia have convinced us that there is great and growing demand for these exports,” Shearer said. “GTSO’s potential acquisition of REE could make our development of new mining operations there a tremendously profitable endeavor for Green Technology Solutions.”
For more information on Rare Earth Exporters of Mongolia, please visit http://www.rareearthexporters.com.
Green Technology Solutions commercializes clean and renewable mining technology and products in a sector that includes Rare Element Resources Ltd. (AMEX: REE), MV Rare Earth/Strategic Metals (NYSEArca:REMX), Danaher Corp. (NYSE: DHR) and Ivanhoe Mines Ltd. (NYSE: IVN).
About Green Technology Solutions, Inc.
Green Technology Solutions, Inc. (GTSO) is an OTCQB publicly traded company. OTCQB is the middle tier of the OTC market. OTCQB companies report to the SEC or a U.S. banking regulator, making it easy for investors to identify companies that are current in their reporting obligations. GTSO acquires, develops and implements the newest clean mining technology to enable our partner clients to expand operations throughout the world. Environmental restrictions represent the largest restriction to mining industry growth and operations. GTSO focuses on overcoming these environmental restrictions with brilliant cutting-edge clean mining technology.
For more information, please visit http://www.GreenTech-Solutions.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words “believes,” “expects,” “anticipate” or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone’s past success, either financial or strategic, is no guarantee of future success. This news release speaks as of the date first set forth above and the company assumes no responsibility to update the information included herein for events occurring after the date hereof.
Contacts
Green Technology Solutions, Inc.
John Shearer, 408-432-7285
President and CEO
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