GTSO Expects Purchase Agreement to Capitalize on iPhone E-waste Boom
SAN JOSE, Calif. -- September 20, 2012
As the mining subsidiary of Green Technology Solutions (OTCBB: GTSO), GTSO
Resources, closes in on a purchase agreement with Global Cell Buyers, it
appears as though the deal couldn’t come at a better time. The impending
release of Apple’s (NASDAQ: AAPL) iPhone 5 is set to unleash an onslaught of
mineral-rich e-waste into the marketplace.
How many iPhone 5s is Apple expected to sell? JP Morgan recently predicted
that the electronics giant would move enough new units to add half a percent
to the U.S. GDP. That means consumers will be replacing a lot of smartphones
with this hot new model—millions of them. What’s more, the iPhone 5 does away
with Apple’s classic 30-pin connector, meaning that millions of electronic
cables, attachments and accessories are now obsolete as well.
GTSO has plans to help turn this trash into cash.
“The EPA reports that in 2010, 2.44 million tons of electronics were discarded
in the U.S. alone,” said GTSO CEO Paul Watson. “That’s an incredible windfall
of lithium, gold, neodymium, rare earths and other valuable materials headed
for the dump. Soon, we plan to send it to the bank, instead.”
Earlier this month, GTSO Resources signed a letter of intent to acquireGlobal
Cell Buyers, an emerging U.S.-based e-waste recycling company, a move that
could potentially allow GTSO to optimize recovery of pricey minerals from
unwanted cell phones. The GTSO Resources is in talks with a leading e-waste
recycler in Latin America, as well.
“We’re in the final stages of negotiation and plan to announce a completed
agreement very soon,” Watson said.
For more information on these initiatives, please
Urban mining is a major pillar of GTSO’s plans to compete alongside major
international corporations striving for sustainable manufacturing solutions,
such as Sprint Nextel Corp. (NYSE:S) and Toyota Motor Corporation (NYSE:TM).
The company is also exploring traditional mining opportunities in the U.S. and
Africa through its joint venture withDiamond V Associates.
AboutGreen Technology Solutions, Inc.
Green Technology Solutions, Inc. [www.gtsoresources.com] is a growth-oriented
company exploring rare earth minerals and precious metals production around
the world. To learn more, please visit our website
Follow us on Twitter atwww.twitter.com/gtsoresources.
Notice Regarding Forward-Looking Statements
Safe Harbor Statement under the Private Securities Litigation Reform Act of
1995: This news release contains forward-looking information 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, including statements
that include the words “believes,” “expects,” “anticipate” or similar
expressions. Such forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause the actual results, performance
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future success. This news release speaks as of the date first set forth above
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herein for events occurring after the date hereof.
Green Technology Solutions, Inc.
Paul Watson, 408-432-7285
President and CEO
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