GreenShift Corporation (OTC Bulletin Board: GSHF) today announced that Patrick Thornton has joined GreenShift as its vice president of finance. Mr. Thornton has a broad range of middle market business experience in the areas of operational, strategic, and financial management. Prior to joining GreenShift, he was a partner at Shamrock Partners, Inc., (2001-2005) a New York-based private equity investment group, where he was instrumental in Shamrock's growth from one portfolio company with $4 million in revenue to a diversified portfolio totaling more than $40 million in revenue and $5 million in EBITDA. Mr. Thornton was responsible for identifying acquisition targets, structuring and negotiating deals, obtaining financing, performing due diligence, and integrating acquired companies. In addition, he contributed to the general management of the operating companies in the areas of finance, operations, and information technology. Mr. Thornton started his career in the assurance practice at KPMG, LLP (2000-2001). Mr. Thornton attended The Pennsylvania State University where he earned a B.S. degree in Accounting (1995-2000) and is a licensed CPA in the State of Pennsylvania. "This is an exciting time for green companies," said Thornton. "GreenShift has assembled a broad base of investments and technologies that together bring some pretty incredible breadth to GreenShift's portfolio. I am very much looking forward to getting to work enhancing the value of each of GreenShift's businesses." Kevin Kreisler, GreenShift's chairman and chief executive officer added that "While we have a few investments to complete yet this year, our chief focus during 2006 will transition from investment in the breadth of our portfolio to investment in the depth of our portfolio. We plan to do this by driving investments in organic growth, acquisitive development and technology infusion for each of our portfolio companies. Patrick's experience acquiring, integrating, operating and growing companies makes him very well suited for the work we have in front of us and we are very excited to have him on board." About GreenShift Corporation GreenShift Corporation is a publicly traded business development company (BDC) whose mission is to develop and support companies and technologies that facilitate the efficient use of natural resources and catalyze transformational environmental gains. BDCs are regulated by the Investment Company Act of 1940 and are essentially publicly-traded equity funds where shareholders and financial institutions provide capital in a regulated environment for investment in a pool of long-term, small and middle-market companies through the use of senior debt, mezzanine financing, and equity funding. GreenShift plans to use equity and debt capital to support and drive the value of its existing portfolio of companies and to make investments in a diversified mix of strategically compatible growth stage public and private businesses and technologies. GreenShift's current portfolio includes investments in the following environmentally proactive companies: -- Veridium Corporation (OTC Bulletin Board: VRDM); -- INSEQ Corporation (OTC Bulletin Board: INSQ); -- GreenWorks Corporation; -- GreenShift Industrial Design Corporation; -- Ovation Products Corporation; -- Tornado Trash Corporation; -- Mean Green BioFuels Corporation; -- Ethanol Oil Recovery Systems, LLC; -- Sterling Planet, Inc.; -- TerraPass, Inc.; -- Aerogel Composite, Inc.; -- Air Cycle Corporation; -- Electronic Scrap Recycling Corporation; -- Coriolis Energy Corporation; -- Hugo International Telecom, Inc.; and, -- TDS (Telemedicine), Inc. Additional information regarding GreenShift Corporation is available online at www.greenshift.com. Safe Harbor Statement This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of GreenShift Corporation, and members of their management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results. GreenShift CorporationJim Grainer, 973-398-8183Fax: 973-398-8037investorrelations@greenshift.comWeb: www.greenshift.comorCEOcast, Inc. for GreenShift Corporation Ed Lewis, 212-732-4300 Source: Business Wire (December 8, 2005 - 8:02 AM EST)
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