Alpharetta, GA, May 8, 2014 – GreenShift Corporation (OTCQB: GERS) is pleased to announce that it has retired convertible debentures with an aggregate outstanding balance of $3,700,000, consisting of outstanding principal and interest of $3,609,205.76 and $90,794.24, respectively. GreenShift made a cash payment of $1,400,000 to retire the debentures.
The debt retirement is expected to reduce GreenShift’s annual interest charge by approximately $215,000 (6% interest per year on the $3,609,205.76 of principal being retired).
About GreenShift Corporation
GreenShift Corporation develops and commercializes clean technologies designed to address the financial and environmental needs of GreenShift’s clients by decreasing raw material needs, facilitating co-product reuse, and reducing the generation of wastes and emissions. Additional information on GreenShift and its technologies is available online at www.greenshift.com.
Safe Harbor Statement
This press release contains statements that may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of GreenShift Corporation and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully, and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
For more information, please contact:
GreenShift Corporation Phone: 770-886-2734 Fax: 770-886-2738 Email: email@example.com Web: www.greenshift.com