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SCOTTSDALE, Ariz., July 1, 2010 (GLOBE NEWSWIRE) -- Green Planet Group, Inc. (OTCBB:GNPG) announced today that the president/CEO, Edmond Lonergan and other management insiders have entered into a Rule 10b-5 Plan whereby the insiders are permitted to purchase stock in their Company.
The trading plan's parameters outline that management will buy up to ten million shares of stock whenever the stock falls below $.02/share. Mr. Lonergan stated, "I and my management team continue to be confident in the future of GNPG and that, at these prices, we believe the stock is severely under-valued." The president continued that "the Company's performance in this fiscal year has been very good in light of unusual circumstances and although all of its future opportunities will not be maximized, management believes the performance of GNPG for this fiscal year 2011 will be very good."
As GNPG is a '33 Act Company, by SEC Rule, its management is not required to file a Form 4 to disclose the stock purchases and therefore the management team will continue to provide periodic updates regarding their purchase of GNPG stock.
About Green Planet Group
Green Planet Group, Inc. (OTCBB:GNPG) is based in Scottsdale, Arizona and engages in ongoing research and development to create products and services that enhance our environment. The Company's revenues are currently derived from the production and distribution of fuel-based energy conservation and clean-air products, as well as through the placement of members of the growing ranks of the unemployed into meaningful "green collar" careers. For additional information, please visit
SAFE HARBOR: Certain information included herein may contain statements that are forward looking, such as statements relating to plans for future expansion and other business development activities. Such forward-looking information is subject to changes and variations which are not reasonably predictable and which could significantly affect future results.
CONTACT: Green Planet Group, Inc.