Greyson International Inc. Provides Update on its Energy Assets
COCONUT CREEK, Fla.--(BUSINESS WIRE)-- Greyson International Inc. (OTC Pink: GYSN), developer of an innovative, patented topical delivery technology targeting the multi-billion dollar cosmetics and OTC pharmaceutical industries, today announced an update on its passive investment in Blake Oil and Gas Limited ("Blake"), a privately owned, Guernsey registered oil and gas company with properties located in the country of Georgia.
"Greyson has been advised that the joint venture between Blake and the MND Group has been funded and new seismic data is being collected across all three properties. A drilling campaign is expected to commence later this year and continue through 2014," said Greyson International Inc. CEO Harvey Tauman.
On March 12, 2012, Greyson acquired a private entity that resulted in a 3% passive ownership stake in Blake. On August 14, 2012, Blake entered into a joint venture agreement with MND Group whereby the latter received a 50% interest in Blake's Georgian assets in exchange for assuming exploration and production costs. Under the terms of the agreement, the MND Group committed to over $100 million in capital expenditures to fund the development of the Ninotsminda, Manavi and Norio assets.
According to an independent report issued by Netherland, Sewell & Associates Inc. and Oilfield Production Consultants, these properties could have significant oil and gas reserves. More information about these assets can be found on Blake's website, www.blakeoilandgas.com.
About Greyson International, Inc.
Greyson's primary focus is on its recently patented Trilexon® delivery system that's taking the multi-billion dollar cosmetics and OTC pharmaceuticals industries by storm. Based on this technology, the company's patented Trilexon® foundation creates a fine surface that is insoluble in water, keeping it in place even after sweating or contact with water. Ingredients are released continuously over an extended period of time, ensuring that the skin receives treatment at a constant steady pace to give it a healthy and youthful look. In addition to cosmetic applications, Trilexon® may also have benefits in the medical field where it is important to deliver active ingredients. Trilexon® is a registered trademark of Greyson International. The company also holds an investment in Blake Oil and Gas Limited ("Blake"), a privately owned, Guernsey registered, Oil and Gas Company. For more information, visit our website; http://greysonintl.com and join the Greyson International's Facebook page http://www.facebook.com/GreysonInternationalInc.
This release contains information about management's view of our future expectations, plans and prospects that constitute forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from historical results or those indicated by these forward-looking statements as a result of a variety of factors including, but not limited to, risks and uncertainties associated with our financial condition, our ability to sell our products and our ability to compete with competitors. We encourage you to review other factors that may affect our future results on any current or future documents we file periodically with the Securities & Exchange Commission.
Greyson International Inc.
Harvey Tauman, 954-482-0497
Chief Executive Officer
KEYWORDS: United States North America Florida
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