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SCOTTSDALE, Ariz., Dec. 31, 2010 (GLOBE NEWSWIRE) -- Green Planet Group, Inc. (OTCBB:GNPG) announces today that its senior management team has purchased 5,500,000 shares of restricted common stock at a cost of $.02 per share. The financial impact of these purchases reduces the debt owed to management by $110,000 and therefore will have a positive impact on profits.
"We are convinced that our stock is significantly undervalued," stated Mr. Lonergan, "and we believe that although our Company has struggled through one of the most difficult financial eras in American history, we are convinced that in the next twelve months revenues will grow significantly and Green Planet will become profitable." Mr. Marshall added, "We expect that as the Company improves its overall performance the result will be a positive impact on shareholder value."
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.
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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.