Philippines-based GreenGold Ray Energies, Inc. announced that its recent entry into the OTC PINKS market will allow it to expand into Africa. This was made possible through the company’s submission of its NASD 15c211 and the Oil & Gas Supplementary Disclosure Statements required by OTC PINKS.
With the formalities completed GreenGold is moving forward to complete the negotiations process to set up a JV that will enable its expansion into the African jatropha arena.
The company has begun developing its Jatropha Oil Technology Research and Development Center that will serve as a diagnostics center. The jatropha plant is currently being grown en masse in Ghana and is making waves throughout Africa.
A joint venture and working alliance with an African group and expansion into the USA is part of GreenGold’s strategy to increase its production of biodiesel oils about two fold or more; enabling it to respond to the increasing demands for these products.
Manolo Tecson, CEO and President, said: "The OTC PINKS market will provide the Company the same opportunities and hopes that the transformation of the GreenGold Ray Energies to be one of the major biofuels, biodiesel oil and alternative energy producing companies will build our shareholders value now and in the future."