CALGARY, ALBERTA -- (Marketwired) -- 05/09/13 -- Genoil (TSX VENTURE: GNO) (OTCBB: GNOLF) announces that Mr. Slobodan Puhalac will be joining Genoil's Advisory Board immediately. Mr. Puhalac has served as Minister of Energy, Economy, Development, Foreign Trade and Economic Relations in Bosnia. Mr. Puhalac is currently the director of the Bosnian Company Gas-Res, which is a joint venture with Gazprom, one of the largest global energy companies in the world. Gas-Res was established by the Republika Srpska Government in Bosnia for gas projects. The company will be overseeing the South Stream Pipeline in the Republic of Srpska which connects Russia to Europe. Mr. Puhalac's current position and industry experience makes him an important energy player in Russia and the Balkans. He will be a valuable addition to Genoil's Advisory Board both for his connections and strategic advice.
"I am joining the board of Genoil because I have great confidence in Genoil's upgrading technology and the global market opportunity it presents," Said Slobodan Puhalac.
Genoil is an international engineering technology development company based in Alberta, Canada that has developed a leading crude oil upgrading and desulfurization technology. Additionally Genoil is in a partnership with SBK Holdings in the United Arab Emirates to market it's upgrading, desulfurization and all environmental technogies. Genoil's shares are listed on the TSX Venture Exchange under the symbol GNO, as well as on the OTC Bulletin Board under GNOLF.
For more information on Genoil Inc. visit www.Genoil.ca.
Certain information regarding Genoil Inc., including management's assessment of future plans, initiatives, operations, and the ability to successfully complete any initiatives may constitute forward-looking statements under applicable securities law and necessarily involve risks associated with an oil and gas technology development corporation, including competition from other technologies and companies, and the ability to access sufficient capital to successfully develop the company's business. As a consequence, actual results may differ materially from those anticipated. The Corporation assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those contemplated by the forward-looking statements. Additionally, statements included in this release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve a number of risks and uncertainties such as competitive factors, technological development, market demand, and the company's ability to successfully execute on its projects. Further information on potential risk factors that could affect the company's financial results can be found in the company's disclosure materials filed on SEDAR at www.sedar.com and with the Securities and Exchange Commission.
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