Genoil Announces CEO Interviewed by Equities.com and Closing of Private Placement
November 29 2011 - 6:00AM
Marketwired
Genoil Inc. (TSX VENTURE:GNO) (OTCBB:GNOLF) announced today that
CEO David Lifschultz was interviewed by Equities.com, the Global
Financial Network offering news, data and research, and host to
My-Fi (My Financial Network), the world's premiere social community
for self-directed investors. Equities.com conducts interviews with
CEOs of emerging growth companies in the technology,
pharmaceutical, and energy fields. The interview can be viewed
at:
http://www.equities.com/equities-tv
Equities.com aims to empower investors with real-time news,
data, and resources for smart, successful investing.
Genoil is pleased to announce that it has closed a private
placement, whereby it issued a total of 5,143,207 Units, at a price
of U.S. $0.10 per Unit, each Unit consisting of one common share
and one common share purchase warrant (the "Warrants") for gross
proceeds of approximately U.S. $514,320. The Warrants are
exercisable until 60 months following their issue date at a price
of U.S. $0.10. The common shares and Warrants issued in connection
with this offering are subject to a four-month hold period.
The securities to be issued by the Corporation have not and will
not be registered under the United States Securities Act of 1933,
as amended (the "1933 Act"), or the securities laws of any state of
the United States, and may not be offered or sold in the United
States absent registration or an applicable exemption therefrom
under the 1933 Act and the securities laws of all applicable
states.
The private placement is subject to the approval of the Toronto
Stock Exchange (Venture).
Genoil is an international engineering technology development
company based in Alberta, Canada that develops innovative
hydrocarbon, oil and water separation, and marine technologies.
For more information on Genoil Inc. visit www.Genoil.ca.
ADVISORY: Certain information regarding the company, including
management's assessment of future plans, strategic partnerships,
operations, financing outcomes and the ability to negotiate a
definitive agreement on terms acceptable to both parties may
constitute forward-looking statements under applicable securities
law and necessarily involve risks associated with an oil and gas
technology development corporation, including competition from
other technologies and the ability to access sufficient capital
from internal and external sources. As a consequence, actual
results may differ materially from those anticipated. The
Corporation assumes no obligation to update the forward-looking
statements or to update the reasons why actual results could differ
from those contemplated by the forward-looking statements.
Additionally, statements included in this release may constitute
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Such statements involve a
number of risks and uncertainties such as competitive factors,
technological development, market demand, and the company's ability
to obtain new contracts and accurately estimate net revenues due to
variability in size, scope and duration of projects, and internal
issues. Further information on potential risk factors that could
affect the company's financial results can be found in the
company's disclosure materials filed on SEDAR at www.sedar.com and
with the Securities and Exchange Commission.
Neither 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 release.
Contacts: Genoil Inc. David Lifschultz Chairman & CEO (914)
393-5800DKLifschultz@genoil.netwww.Genoil.ca
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