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GreenAngel Energy Reports on Impact of Write Down in Light-Based Technologies Inc

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 12/03/13 -- GreenAngel Energy Corp ("GreenAngel") (TSX VENTURE: GAE) reported yesterday that it will write down its $390 thousand investment in Light-Based Technologies Inc.

By taking this write-down, GreenAngel's net asset value per share will be reduced by $.045 per share. There is no liability or impairment to GreenAngel as a result of this write-down.

GreenAngel continues to build its portfolio of investment companies and is exploring new investment opportunities in the clean technology sector.

ON BEHALF OF THE BOARD

Michael Volker, Chairman

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 investor companies, GreenAngel also mentors and advises investors to help ensure these companies achieve commercial success. For more information, please visit www.greenangelenergy.ca.

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.

Disclaimer for Forward-Looking Information

Certain statements in this release are forward-looking statements that 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.

Contacts:
Investor & Media:
Michael Volker
GreenAngel Energy Corp.
+1.604.644.1926
mike@greenangelenergy.ca
www.greenangelenergy.ca

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