BLAINE, WA–(Marketwire – March 9, 2012) – Greenlite Ventures Inc. (OTCBB: GLTV) (“Greenlite”) announced today that on March 6, 2012, it entered into a consulting agreement (the “Mirador Agreement”), with Mirador Consulting LLC, (“Mirador”). Under the terms of the Mirador Agreement, Mirador has agreed to provide consulting services to Greenlite. The Mirador Agreement is effective March 6, 2012 and is for a term of 6 months.
During the term of the Mirador Agreement, Mirador will (a) provide Greenlite with corporate consulting services on a best efforts basis in connection with mergers and acquisitions, corporate finance, corporate finance relations, introductions to other financial relations companies and other financial services; (b) use its best efforts to locate and identify to Greenlite private and/or public companies for potential merger with or acquisition by Greenlite; (c) contact Greenlite’s existing stockholders, responding in a professional manner to their questions and following up as appropriate; and (d) use its best efforts to introduce Greenlite to various securities dealers, investment advisors, analysts, funding sources, and other members of the financial community with whom it has established relationships, and generally assist Greenlite in its efforts to enhance its visibility in the financial community.
The relationship with Mirador is intended to enhance Greenlite’s profile as it commences selling carbon offsets, based on sequestration of carbon from reforestation, through its website which is expected to go online in the next few days.
In consideration of Mirador’s agreement, Greenlite issued 250,000 shares of its common stock to Mirador.
Greenlite is a carbon offsets marketing company. We intend to offer carbon offsets through our website to voluntary markets where no verification is required. Greenlite has the exclusive agreement to sell offsets generated by United Nature. United Nature owns and manages sustainable teak plantations and invests in buying rainforest for reforestation. Their projects are located in Darien Province, Panama.
Greenlite’s longer term plan is to market and sell verified Deforestation and Degradation (REDD) carbon offsets from global restoration projects. Our focus is on reforestation, ideally with generators, similar to United Nature who provide work opportunities and benefits to the indigenous people.
Greenlite’s longer term plans also include seeking to join carbon exchanges and marketing other forms of verified carbon credits. Greenlite’s shares are traded in the United States on the OTC Bulletin Board (OTCBB: GLTV).
This press release may contain, in addition to historic information, forward-looking statements. These statements may involve known and unknown risks and uncertainties and other factors that may cause the actual results to be materially different from the results implied herein. In particular, there are no assurances that: (i) the Agreement with Mirador will result in any mergers, or acquisitions, or will successfully enhance Greenlite’s visibility in the financial community; or (ii) Greenlite’s website will successfully market carbon offsets or (iii) that Greenlite will become a member of any carbon credit exchange.