Genoil Appoints Slobodan Puhalac to Its Advisory Board and He Has Agreed to
Stand for Election to the Board of Directors
CALGARY, ALBERTA -- (Marketwired) -- 05/09/13 -- Genoil (TSX
VENTURE:GNO) (OTCBB:GNOLF) announces that Mr. Slobodan Puhalac will
be joining Genoil's Advisory Board immediately. Mr. Puhalac has
served as Minister of Energy, Economy, Development, Foreign Trade and
Economic Relations in Bosnia. Mr. Puhalac is currently the director
of the Bosnian Company Gas-Res, which is a joint venture with
Gazprom, one of the largest global energy companies in the world.
Gas-Res was established by the Republika Srpska Government in Bosnia
for gas projects. The company will be overseeing the South Stream
Pipeline in the Republic of Srpska which connects Russia to Europe.
Mr. Puhalac's current position and industry experience makes him an
important energy player in Russia and the Balkans. He will be a
valuable addition to Genoil's Advisory Board both for his connections
and strategic advice.
"I am joining the board of Genoil because I have great confidence in
Genoil's upgrading technology and the global market opportunity it
presents," Said Slobodan Puhalac.
Genoil is an international engineering technology development company
based in Alberta, Canada that has developed a leading crude oil
upgrading and desulfurization technology. Additionally Genoil is in a
partnership with SBK Holdings in the United Arab Emirates to market
it's upgrading, desulfurization and all environmental technogies.
Genoil's shares are listed on the TSX Venture Exchange under the
symbol GNO, as well as on the OTC Bulletin Board under GNOLF.
For more information on Genoil Inc. visit www.Genoil.ca.
Certain information regarding Genoil Inc., including management's
assessment of future plans, initiatives, operations, and the ability
to successfully complete any initiatives may constitute
forward-looking statements under applicable securities law and
necessarily involve risks associated with an oil and gas technology
development corporation, including competition from other
technologies and companies, and the ability to access sufficient
capital to successfully develop the company's business. As a
consequence, actual results may differ materially from those
cipated. The Corporation assumes no obligation to update the
forward-looking statements or to update the reasons why actual
results could differ from those contemplated by the forward-looking
statements. Additionally, statements included in this release may
constitute forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. Such statements
involve a number of risks and uncertainties such as competitive
factors, technological development, market demand, and the company's
ability to successfully execute on its projects. Further information
on potential risk factors that could affect the company's financial
results can be found in the company's disclosure materials filed on
SEDAR at www.sedar.com and with the Securities and Exchange
Neither 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 release.
(212) 688 8868
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