GSPT Changes Name to Terralene Fuels Corporation
16 December 2011 - 12:00AM
Terralene Fuels Corporation (OTCBB:GSPT), formerly Golden Spirit
Enterprises Ltd. announces that the Company will now operate and
market its alternative fuel proprietary formulation with a
corporate name that better reflects the business of the Company.
Terralene Fuels Corporation has an alternative fuel that is a
patented formulation which can replace gasoline as a stand alone
fuel or fuel additive. Terralene's fuel composition is 55% fossil
fuel based and 45% renewable biofuel based.
The Company's CUSIP Number has changed from 38119N 10 7 to
88104B 10 5 and the name change did not involve any change in the
issued or authorized capital of the Company. The trading symbol
remains as "GSPT" and the Company is currently updating its
corporate website to reflect the name change and other related
information.
Further on the matter of alternative fuels, recently there has
been an outcry regarding government subsidies for alternative fuels
to be stopped and that if alternative energy ideas are to make
economic sense, the free market should and would support them.
Critics pointed out that ethanol and oil industries should not need
subsidies that have proven to be costly to taxpayers, harm the
environment and increase the cost of food we consume. Republican
Congressman Mike Pompeo of Kansas estimates that the US government
will save up to $90 billion dollars over a ten year period by
eliminating such subsidies. It is time for conventional and
alternative fuel sources to show their worth without government
subsidies. These factors present a timely opportunity for Terralene
Fuels to enter the marketplace.
About Terralene Fuels
TerraleneĀ® is a patented, proprietary, alternative fuel
formulation which reduces greenhouse gases and other
environmentally damaging emissions which are prevalent in existing
gasoline combustion engines. Although the formulation is somewhat
based on fossil fuels and other non food chain agricultural
components, it is designed as a Green and Clean Alternative
Renewable Fuel. The internationally known law firm of
Gowling Lafleur Henderson LLP is retained to manage the Terralene
Patents and Trade Marks.
Visit our site: www.terralenefuels.com
/s/ Jaclyn Cruz |
Jaclyn Cruz, President |
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995: The statements contained herein which are not
historical fact are forward-looking statements that are subject to
risks and uncertainties that could cause actual results to differ
materially from those expressed in the forward-looking statements,
including, but not limited to, certain delays in testing and
evaluation of products and other risks detailed from time to time
in Terralene's filings with the Securities & Exchange
Commission.
CONTACT: 1-888-488-6882
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