GDT Tek, Inc., (OTC: GDTK) is pleased to announce that it has entered into a definitive Exclusive Rights Agreement to acquire a renewable energy company that turns landfill gas into electricity and creates a Refuse Fuel Derived pellets (RFD) from a bio mass waste product utilizing the from the burning of the landfill gas. The RFD pellets are then sold to electricity companies that can burn the pellets in lieu of coal to create electricity. The agreement provides an exclusive right for GDT Tek to acquire this Green Energy Company as a wholly-owned subsidiary on or before December 31, 2013.
GDTK is in the process of taking very specifically arranged steps to bring to fruition a well thought out and devised plan to grow and expand the Company. This Exclusive rights agreement to acquire this profitable Green Energy Company is the second step in the process which follows the first step of starting the process to bring GDTK current on all filings (see release of May 14, 2013). GDT Tek has also begun preparing a $20,000,000 bond offering to fund this acquisition with warrants attached at much higher strike prices than the current market valuation. This bond offering and the debt service on this bond offering will easily be supported from the current net being generated by this Green Company without including other operational activities expected to come on line for GDT Tek or the expected increase in operations over the next 24 months of this renewable energy company.
Bo Linton, President of GDT TEK, Inc. stated, "This agreement is a step forward in executing the GDT Tek business plan. Once completed this transaction should bring GDTK to profitability and allow for further expansion and growth of our Company. It truly is exciting that we will become current with our financial filings soon and position GDTK for the immediate, mid-term and long-term future."