CARLSBAD, CA--(Marketwire -01/18/12)- Representatives from Green Mountain Development Corp (Pinksheets: GMND.PK - News), and C. Trade Group met in Texas last week with Bayside Corp (Pinksheets: BYSD.PK - News) management as a follow up to the recently signed project development agreement between GMND and BYSD. The parties visited oil well sites and discussed project financing, compliance, logistics, remediation job opportunities and a joint venture deal structure for a multi-well development project the companies plan to begin in this quarter.
Green Mountain and C. Trade are assisting Bayside with project development of drilling leases from acquisition to commercial production. C. Trade Group discussed product distribution logistics and the use of its network resources to accelerate Bayside development efforts and also presented Bayside with draft JV agreement which is now in the review stages between the parties. During the oil field tour Green Mountain identified new business for its remediation and agricultural microbial product line at various well sites.
It is contemplated that a JV agreement will be signed in January and project commencement will begin this quarter. As part of its compensation for bringing all parties together, Green Mountain has a participation in the Joint Venture and will provide remediation products and services to Bayside projects.
Robert Brehm, CEO of Green Mountain stated, "I want to thank Bayside and C. Trade for giving us the opportunity to provide project development services in the energy sector. Expanding our baseline revenue sources enables us to rapidly build GMND on multiple fronts."
About Green Mountain Development Corp
Green Mountain Development Corp provides project development services for capital providers and technology operators and distributes licensed products related to the energy, agricultural and environmental sectors.
About Bayside Corp
Bayside specializes in the acquisition, rework and enhancement of properties in proven oil and gas fields that offer lower risk and high potential returns in a shorter time period than traditional exploration drilling.
Investors and media contact Robert Brehm at 619/488-3744 (bob@greenbizness.com) or visit the corporate website www.GreenBizness.com for news and updates.
The information contained in this press release includes forward-looking statements. Forward-looking statements usually contain the words "estimate," "anticipate," "believe," "expect" or similar expressions that involve risks and uncertainties. These risks and uncertainties include the company's status as a development stage company with uncertain profitability, need for significant capital, uncertainty concerning market acceptance of its products, competition, limited service and manufacturing facilities, dependence on technological developments and protection of its intellectual property. The company's actual results could differ materially from those discussed herein.
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