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Green Earth Technologies (Pink Sheets:GETG) today announced the completion of an investment of $2.1 million from Founder's Technology and eight angel investors for 4,318,750 common shares, at $0.20 and $300,000 in short term straight debt. Proceeds from the capital raise will be used to fund working capital requirements.
GET is in the process of engaging an investment bank to raise additional rounds of capital. Company policy is to announce funding only after the completion of each capital raise.
The Company has only one class of stock issued and outstanding: common stock with full voting rights. Total shares issued and outstanding following are 48,035,426 common shares, which are comprised of 4,759,254 trading shares and 43,276,172 restricted shares.
About Green Earth Technologies
Green Earth Technologies (GET) produces "G" branded, superior performing, totally green products made entirely from America-grown base oils, and utilizes the power of nanotechnology to deliver environmentally friendly products with no compromise. GET's family of products are offered in a range of categories, including automotive performance and appearance chemicals, marine performance and appearance chemicals, household cleaning solutions, and lawn & garden chemicals. Please visit www.getg.com for the latest news and in-depth information about GET and its brands.
Safe Harbor Statements:
Certain statements in this release regarding future events and developments, future performance, management's expectations, beliefs, plans, or projections are "forward looking statements" within the meaning of the federal securities laws. Such statements are subject to a number of risks and uncertainties, and are based on the Company's current expectations, and speak only as of the date of such statements. Actual Company results may differ materially from any forward-looking statements due to such risks and uncertainties.
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