NASS VALLEY GATEWAY TERMINATES AGREEMENT WITH CANADA INC. AND PURSUES
ALTERNATIVES TO CLEAN ENERGY CONVERSION AND WASTE DISPOSAL SYSTEM
Trading Symbols --------------- CNSX: NVG Frankfurt: 3NV Website: www.nassvalleyglobal.ca
VANCOUVER, Oct. 4 /CNW/ - NASS VALLEY GATEWAY LTD, (the "Company" or "NVG"), announces that further to its news release dated August 10, 2010 and the completion of its due diligence, NVG's management recommended to its Board of Directors not to proceed with the above announced Earn-In Agreement between the Company and 7510446 Canada Inc. ("CI") and both companies have agreed to terminate the Agreement.
The Company has subsequently investigated further alternatives within the Energy Conversion and Waste Disposal Technology and is actively pursuing its involvement with the objective to participate directly in the development process through its subsidiary Global Environomic Systems Corp.
The Company also announces that Mr. Barry McGowan has resigned as a director of Nass Valley Gateway Ltd. and as President and Director of its wholly owned subsidiary, Greenville Environomic Energy Ltd. Consequently, he has also resigned as a member and Chair of the Audit Committee and as a member of the Exploration and Safety Committee. The Company appreciates Mr. McGowan's professional conduct and wishes him success in his future endeavors.
The CNSX has not reviewed, and does not accept responsibility for the adequacy or accuracy of the contents of this news release.
For further information: Mel Stevens, President, Telephone: (250) 621-3286; Dieter Peter, Chairman & CEO, Telephone: (604) 685-4170
Share this article