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NEW YORK--(BUSINESS WIRE)--Aug. 7, 2006-- GS CleanTech Corporation (OTC Bulletin Board: GSCT) today announced its execution of a definitive agreement with a Wisconsin-based ethanol producer to extract about 2.75 million gallons per year of crude corn oil from the producer's distillers dried grains for conversion into a biodiesel feedstock using GS CleanTech's proprietary corn oil extraction technology.
Under the terms of the agreement, GS CleanTech will install both stages of its Corn Oil Extraction Systems(TM) on-site at the ethanol facility. GS CleanTech expects to initially generate an estimated $1.4 to $1.8 million in annualized revenues by purchasing and selling the ethanol facility's extracted corn oil as a biodiesel feedstock. This amount is expected to increase to more than $4.0 million per year once the second stage of the technology is brought on-line.
-------------------- I buy fast and sell faster!
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CERTIFICATE OF AMENDMENT OF CERTIFICATE OF INCORPORATION OF VERIDIUM CORPORATION
Veridium Corporation (the "Corporation"), a corporation organized and existing under and by virtue of the General Corporation Law of the State of Delaware ("GCL") does hereby certify:
FIRST: That by written consent in lieu of meeting dated June 14, 2006, the Board of Directors of the Corporation duly adopted a resolution setting forth a proposed amendment of the Certificate of Incorporation of the Corporation, declaring said amendment to be advisable and calling for the approval of the amendment by the stockholders. The resolution setting forth the proposed amendment is as follows:
RESOLVED, that the Certificate of Incorporation of this Corporation be amended as follows:
By changing Article number "I" thereof so that, as amended, said Article shall be and read as follows:
ARTICLE I. Name: The name of the Corporation is GS CleanTech Corporation (the "Corporation").
SECOND: That thereafter, pursuant to resolution of the Board of Directors, stockholders of the Corporation representing the necessary number and class of shares as required by statute, acting by written consent in lieu of meeting in accordance with Section 228 of the GCL, consented to the adoption of said amendment by signing the consent setting forth said amendment and delivered the signed consent to the Corporation as required by the provisions of said Section 228.
THIRD: That said amendment was duly adopted in accordance with the provisions of Section 242 of the GCL.
FOURTH: That the effective date of this amendment shall be July 18, 2006.
IN WITNESS WHEREOF, the Corporation has caused this certificate to be signed this 17th day of July, 2006.
VERIDIUM CORPORATION
By: /s/ Kevin Kreisler ------------------------- Kevin Kreisler Chief Executive Officer
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Volume total this morning already makes it the 7th best volume day in the last year and the morning is young. The .075 HOD is highest since early May 2006 when it hit .08. Good things ahead.
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