CALGARY, ALBERTA, Nov 11 (MARKET WIRE) --
Genoil (TSX VENTURE: GNO)(OTCBB: GNOLF) is pleased to announce that it
has retained Launchpad IR to implement a comprehensive investor relations
program. "Launchpad IR has extensive experience and knowledge in
representing public companies in the oil and energy sectors. Genoil
presents us with the perfect opportunity to leverage our network of
contacts in the investment community in order to increase awareness of
the company's compelling growth story," said Todd Fromer, founding
partner of Launchpad IR. "Genoil's range of innovative and efficient
technologies sets them apart from the industry. We look forward to
working with Genoil and the management team."
Focusing on "engineering technology for the future", Genoil has designed
and developed a number of important technological innovations, including
the Genoil Hydroconversion Upgrader (GHU(R)), which economically upgrades
and significantly increases the yields of heavy crude oils and heavy
refinery feedstocks into light, clean transportation fuels; and the
Crystal Sea(TM) Separator, a revolutionary bilge water treatment system
which has successfully met or exceeded the highest guidelines and
standards of the United States Coast Guard and the International Maritime
Organization's MEPC Resolution 107 (49) MEP for pollution prevention
equipment for ship bilges.
Genoil chairman and CEO, David Lifschultz, has more than 30 years of
diverse management experience. Mr. Lifschultz has had a long and
successful career in directing companies in the fields of technology,
transportation and energy. For 10 years, Mr. Lifschultz was President and
CEO of Lifschultz Industries Inc, a high tech precision heat measuring
company that measured heat to the nano degree, which was sold to Danaher
in 2001.
"As we continue to move forward, we believe that now is the appropriate
time for a strategic communications partner. We look forward to the
professional help and counsel that Launchpad IR will provide us with,"
Mr. Lifschultz said. "Clear communication of our Company's objectives and
milestones are essential as we continue to grow and further develop our
technologies and products."
About Genoil
Genoil's treatment reduces oil content from bilge water to well below 15
parts per million so it meets strict international standards for
discharges into the ocean. The Crystal bilge water separator was
developed by Genoil for the commercial marine industry. It has been
approved by US Coast Guard, according to the International Maritime
Organization standards (Resolution MEPC 107 (49)), and the American
Bureau of Shipping.
Stringent environmental regulations with increased penalties for
untreated bilge water discharged overboard are in place to protect the
oceans and coastal waters from illegal dumping of waste oil. Genoil's
Crystal oily water separator meets the port's goal to minimize the impact
of contaminated bilge water on the aquatic ecosystem and complies with
existing environmental laws.
Genoil Inc. ("Genoil" or the "Corporation") has completed a shares for
debt transaction to satisfy amounts outstanding to certain creditors (the
"Creditors") of the Corporation. Shares were issued pursuant to debt
cancellation agreements between Genoil and each of the Creditors, whereby
each of the Creditors agreed to forgive and cancel debts currently owing
to such Creditor by the Corporation. The total debt owing to the
Creditors which has been cancelled is in an aggregate amount of U.S.
$118,509.21, which amounts have been cancelled in exchange for an
aggregate of 897,873 common shares (the "Shares") of the Corporation. The
Shares are subject to a four-month hold period pursuant to the rules of
the TSX Venture Exchange and Canadian securities legislation.
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.net.
About Launchpad IR
Headquartered in New York City Launchpad Investor Relations is focused on
the micro-cap market. Our years of experience representing hundreds of
small public companies allows us to deliver targeted communications to
investments bankers, direct sources of capital, institutional investors
and the hard-to-reach retail investor marketplace.
ADVISORY: The TSX Venture Exchange has neither approved nor disapproved
of the information contained herein.
Contacts:
Genoil Inc.
David Lifschultz
Chairman and CEO
(212) 688-8868
(914) 393-5800
Website: www.genoil.net
Copyright 2009, Market Wire, All rights reserved.
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