|By Marketwire .||
|October 3, 2012 08:20 PM EDT||
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 10/04/12 -- Global Green Matrix Corporation ("Global Green" or the "Company") (TSX VENTURE:GGX)(OTCBB:GGXCF)(BERLIN:A0LGDN)(FRANKFURT:POZ) is pleased to announce the appointment of Mr. Brian Klassen to General Manager of Global Green Matrix Corp. and Intercept Rentals.
Mr. Klassen brings more than 14 years of experienced leadership in administrative, operational strategic management as well as sales and marketing. He has proven experience in increasing annual sales, asset growth as well as managing sales and operational staff. Mr. Klassen has worked in Alberta for companies that service the oil industry, particularly in relation to hydraulic fracturing products such as chemicals, water, oil field service equipment and transportation.
Mr. Klassen has significant experience in the transportation industry, is accustomed to overseeing demanding day-to-day business activities while maintaining responsibility for business development, increasing revenues, and producing a high level of customer service and retention.
Mr. Randy Hayward, President, stated, "Mr. Klassen brings a substantial set of skills and experience to Global Green's management team, his proven track record we believe, will provide invaluable guidance as Global Green continues to build its relationships within the oil industry and increases the number of water heating units working in the field."
The Company also announces that it is proceeding with the balance of its previously announced Non Brokered Private Placement and has, due to market demand, increased the total units available to 10,000,000 units at a price of $0.05 per unit. Each unit consists of one share and one share purchase warrant, with each warrant exercisable to acquire an additional share for a period of 2 years from the closing date at a price of $0.15. The Company has sold 1,480,000 units for total proceeds of $74,000 pursuant to the closing of the first tranche.
The Company may pay finder's fees in accordance with the policies of the TSX-V upon the final closing of the Private Placement.
About Intercept Rentals
Intercept Rentals, an oilfield rental company was purchased by GGX in March 2012. Intercept Rentals signed an agreement with Energy Heating LLC in Utah and Canadian Energy Heating., the agreement gives Intercept the exclusive Canadian rights to a new technology that provides a method of heating water used by oil companies in their hydraulic fracturing(fracking) operations. The technology heats water used in the fracking process with a 98% efficiency compared to the existing methods which are typically 62% efficient. Brian Klassen, General Manager says he anticipates completing demonstrations with a number of major oil companies in the Alberta region over the next few weeks.
About Global Green Matrix Corp. (www.globalgreenmatrix.com)
Global Green Matrix (GGX) is an Oilfields services firm (OFS) specializing in unconventional energy extraction and related services such as hydraulic fracturing, tar sands processing and other unconventional energy sources, such as Municipal Solid Waste (MSW). GGX uses its access to a set of proprietary technologies to provide its clients the tools to go beyond traditional extraction techniques and increase the productivity of their unconventional field operations.
For further information visit our website at www.globalgreenmatrix.com.
This news release may contain assumptions, estimates, and other forward-looking statements regarding future events. Such forward-looking statements involve inherent risks and uncertainties and are subject to factors, many of which are beyond the Company's control that may cause actual results or performance to differ materially from those currently anticipated in such statements.
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.