SAN JOSE, Calif.--(BUSINESS WIRE)--Green Technology Solutions Inc. (OTCQB: GTSO) announced the closing of a $3.25 million financing agreement today. This funding is expected to allow the Company to continue the evaluation and development of rare earth minerals projects to profitability.
“Rare earth minerals are critical to critical modern technologies. They are used in computers, cell phones, iPads, magnets, batteries, wind turbines, electric car batteries and solar panels,” noted CEO John Shearer. “With $3.25 million in available financing, we can breath easier as we tackle the exciting projects we’ve sunk our hands into,” he added.
“We are currently focused on the evaluation of promising prospects for rare earth minerals in Mongolia as well as other target rich locations. This funding will allow us to move aggressively to lock in opportunities as they mature,” he concluded.
GTSO has agreements in place for the evaluation and development of mineral assets on more than 17,000 acres in Mongolia that the company believes hold the potential for significant commercial production of rare earth minerals.
China, which produces more than 90 percent of the world’s rare earths, has sparked worldwide fears of supply shortages with strict new export policies, sending prices soaring. GTSO is working to capitalize on these favorable new market dynamics by developing new sources of rare earths outside of China.
For more information on GTSO and Rare Earth Exporters of Mongolia’s rapidly expanding development plans for the region, please visit http://www.rareearthexporters.com/investors.html.
Green Technology Solutions commercializes clean and renewable technology in a sector that includes Lynas Corp. (OTCQB: LYSCF.PK), MV Rare Earth/Strategic Metals (NYSEArca: REMX), Rare Element Resources Ltd. (AMEX: REE) and Avalon Rare Metals (AMEX: AVL).
About Green Technology Solutions, Inc.
Green Technology Solutions, Inc. (OTCQB: GTSO) is a growth-oriented clean energy company that acquires, develops and implements the latest green technology solutions for the production and distribution of energy. GTSO also pursues the acquisition of rare earths, gold and other materials used in the latest green-tech innovations through its division, Rare Earth Exporters. GTSO is an OTCQB publicly traded company. For more information, please visit our website at [http://www.GreenTech-Solutions.com]. For investment information and performance data, please visit http://www.GreenTech-Solutions.com/investors.html.
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.