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For
Immediate Release:
Green
EnviroTech Holdings, Corp. Open Letter Update to Shareholders
JAMESTOWN,
CA—(Marketwired – October 5
th
, 2018) - Green EnviroTech Holdings, Corp. (OTC QB: GETH) is pleased to update
shareholders in the following open letter.
Dear
shareholders,
I
would like to begin by thanking each and every one of you for your continued patience with, and confidence in, Green EnviroTech
Holdings, Corp.
I
would also like to acknowledge that 2018 has been a tough year for the business with the knock on effects being felt by you, our
shareholders. The anticipated funding from READS did not materialize and so the GETH Team refocused on engaging with other funding
institutions. We have been working hard and have narrowed down on four potential funders and continue to progress discussions
with all of them. One of these four institutions is now in the final stages of its due diligence process. If we can close a funding
deal by the end of 2018, we expect to generate GETH’s first operational revenues in the second half of 2019 and be on the
road to first profits in 2020.
In
addition, we have continued our discussions with project partners for US based projects and are pursuing a number of potential
projects overseas.
As
you will be aware, we are in the process of increasing the authorized shares for the company. This is a critical part of our long
term financing strategy as it enables additional working capital and project financing to be secured both now and in the future.
If you have not already voted, we urge you to vote in favor of the increase to the authorized shares. You can vote your shares
in person at the special meeting, which will be held on Wednesday, October 10, 2018, at 10:00 a.m., at The Silicon Valley Capital
Club, 50 West San Fernando Street, San Jose, CA, or by internet at proxyvote.equitystock.com, or by faxing your proxy card to
(646) 201-9006 Attn: Shareholder Services.
The
key to our future success will be to secure the funding to build our first Processing Plant, after which we have a robust pipeline
of additional projects that could be initiated quickly using our “Hub & Spoke” and “Copy Exact” business
model. We are confident that the capital we need can be provided by one of the four funding institutions with whom we are currently
engaged in discussions.
As
I reflect on 2018 and look forward into 2019, I am reminded of a quote by Martin Luther King, who said, “We must accept
finite disappointment, but we must never lose infinite hope”. The GETH Team remain fully committed to the success of our
enterprise and are very encouraged by the discussions we are having with all of the funding institutions. We will continue to
work diligently to build the business we all envisioned when we started this journey, and hope that you will be committed to stay
with us on the road to success.
Once
again, on behalf of the GETH team, I would like to thank all of you for your patience, for your confidence in us, and for your
support.
Yours
sincerely
Chris
Bowers
President
and CEO
Green
EnviroTech Holdings, Corp.
About
Green EnviroTech Holdings Corp.
Green
EnviroTech Holding Corp. (OTC: GETH) is first and foremost a technology company. Our mission is to find, develop and implement
practical, economical solutions to address environmental issues associated with the production of waste, energy, water and food;
and to create jobs and stimulate economic growth in the local communities where we operate as we strive to achieve this mission.
For
more information on GETH:
www.greenenvirotech.com
CONTACT
INFORMATION
John
Martin
866.414.5242
Forward
Looking Statement
This
press release contains forward-looking statements that relate to future events, including our ability to raise capital, or to
our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual
results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity,
performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking
statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control
and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking
statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and
assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly
update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially
from those anticipated in these forward-looking statements, even if new information becomes available in the future.
For
a discussion of these risks and uncertainties, please see our filings with the Securities and Exchange Commission. Our public
filings with the SEC are available from commercial document retrieval services and at the website maintained by the SEC at
http://www.sec.gov.
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