PALM BEACH GARDENS, Fla.,
June 16, 2015 /PRNewswire/
-- GOLDEN AGE RESOURCES, INC., (OTC PINK: GDAR) a leading
energy provider for large-scale "Green" power plants "in
Latin America and the Caribbean, today announced two important
Shareholder Updates.
The Company announced today that the subsidiary of Golden Age
Resources, Inc, Golden Age Resources Mexico S de R.L, has begun the
process of obtaining a Federal License by CRE. This new
license will allow The Company to offer and sell the daily Kw/h
production from the planned Yucatan power by a signed Power Purchase
Agreement (PPA) to specific commercial or municipal
customers.
This new Federal License has been made possible since the
Mexican Senador House approved the "Ley de la Industria Electrica"
in August 2014. The first implementations of these Federal
Licenses are set to begin in June 2015. This implementation
will allow private electricity producers to contract their
generated electricity to industrial, commercial and municipal
customers.
Because of direct to consumer pricing options, The Company is
projecting an increase of the planned revenue by up to 25%.
This also allows direct pricing to consumers that can be lower than
their current charges to buy their electricity directly from the
CFE.
Mr. Thomas Wolff, Vice President
of Golden Age Resources Mexico S de R.L. stated: "The pursuit of
the Federal License is a great opportunity to expand the possible
customer options for the produced electricity. Mexico, through new legal reforms, is
continuing to incentivize private companies to produce profitable
electricity throughout Mexico."
The Company has also announced the incorporation of proven
German and US Technologies to develop and build the Biogas Pilot
Plant with the ability to generate reliable, ultra-clean,
continuous power from waste of associated methane gas. The Company
is in the final steps to conclude ongoing negotiations and will
provide updates to the Shareholder as established. This
transfer of technology is to replace the previously announced
Strategic Partnership Agreement and Purchase Order with GEI Global
Energy Corp that has been cancelled.
The Company continues to develop both commercial and residential
"Green" energy power production options from both WTE and solar
powered systems to increase operational cash flow for the
Company.
About Golden Age Resources, Inc.:
GDAR, organized as a Nevada Company, has re-directed its core
business to technology and Latin American and International solar
energy markets providing project development, medium and long-term
finance solutions and investments into solar energy related
projects. This re-direction promises enhanced corporate and
shareholder values.
Forward Looking Statements: This press release contains
"forward looking statements" within the meaning of Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended and such forward
looking statements are made pursuant to the safe harbor provisions
of the Private Securities Litigation Reform Act of 1995. Such
statements are subject to risks and uncertainties that could cause
future results to differ materially from the forward looking
statements. You should consider these factors in evaluating the
statements herein and not rely on such statements. The forward
looking statements in this release are made as of the date hereof
and Golden Age Resources, Inc. undertakes no obligation to update
such statements.
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SOURCE Golden Age Resources, Inc.