GAE Timia Capital Corp

GreenAngel Energy Corp ("GreenAngel") (TSX VENTURE:GAE) reports that it will
write down its $390 thousand investment in Light-Based Technologies Inc.


Light-Based Technologies Inc was developing LED drivers and control technologies
for the solid state lighting industry. The company's major investors included
VantagePoint Capital Partners and Chrysalix Energy Venture Capital.


Art Aylesworth, Light-Based's CEO comments: "Although the company's technology
remains impressive and the demand for intelligent control for LED lighting
continues to grow, the competitive landscape is also shifting. Many large global
manufacturers have starting developing their own in-house solutions rather than
acquiring technology and intellectual property from companies like ours. Over
the past few quarters the company made an aggressive attempt to sell itself to a
wide range of potential acquirers well suited to exploit our capabilities.
However, low valuations in the "driver" space and in-house solutions did not
make this easy. No offers to acquire or invest were received and the company is
rapidly running out of cash. Unfortunately, given the capital already invested
and challenging valuations in the space, the board was left with no alternative
but to wind down the company." There will be no capital returned to holders of
common shares.


ON BEHALF OF THE BOARD 

Michael Volker, Chairman

About GreenAngel Energy

GreenAngel Energy Corp. is the first publicly traded company that invests solely
in emerging private green technology companies. We provide an avenue for public
investors to gain access to a portfolio of the most promising angel-stage
investments across a spectrum of green technology sectors. Our focus is
commercializing new technologies that produce renewable energy, improve energy
efficiency, or use renewable energy resources such as water, wind and solar. We
also work with companies that deploy or manage technologies and processes that
reduce greenhouse gas (GHG) emissions. In addition to providing strategic
capital to investor companies, GreenAngel also mentors and advises investors to
help ensure these companies achieve commercial success. For more information,
please visit www.greenangelenergy.ca.


Neither the 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 news release.


Disclaimer for Forward-Looking Information

Certain statements in this release are forward-looking statements that reflect
the expectations of management regarding the Company's listing of its common
shares on the TSX Venture Exchange. Forward-looking statements consist of
statements that are not purely historical, including any statements regarding
beliefs, plans, expectations or intentions regarding the future. Such statements
are subject to risks and uncertainties that may cause actual results,
performance or developments to differ materially from those contained in the
statements. No assurance can be given that any of the events anticipated by the
forward-looking statements will occur or, if they do occur, what benefits the
Company will obtain from them.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Investor & Media:
GreenAngel Energy Corp.
Michael Volker
+1.604.644.1926
mike@greenangelenergy.ca
www.greenangelenergy.ca

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