Genesis Electronics Group Announces Investment to Close Current Reg A Offering
- Genesis Electronics Group has secured $190,000 in funding from Strategic Investor, 40 Brightwater, LLC.
- The investment will support the growth plans of GEGI and its autonomous road-to-rail shipping technology, Glīd.
- Taylor Transport has signed a purchase order for the first units produced by GEGI.
- GEGI has announced a strategic partnership with the Portland Vancouver Junction Railroad.
- None.
Much needed funds will allow the Company to continue its growth plans
Salt Lake City, UT, May 04, 2023 (GLOBE NEWSWIRE) -- Salt Lake City, UT – May 4, 2023 – Genesis Electronics Group, Inc. (GEGI), the maker of the autonomous road-to-rail patent-pending shipping technology, Glīd, announced that it has signed the last subscription agreement for
This new Investor believes in the vision and mission of the Company and has provided this cash infusion as a sign of their confidence and support for the Company and Its future.
Kevin Damoa, CEO of Genesis Electronics Group commented “This investment by Shannon Newby and 40 Brightwater LLC couldn’t come at a more important time for not only our Glīd technology, but also our nation’s decision to transition rapidly into a greener and more sustainable future. We are extremely grateful for his belief and support and we look forward to building a brighter tomorrow together for intermodal transportation.”
Shannon Newby, CEO of 40 Brightwater, LLC commented “We have been following Genesis Electronics Group and their Glīd technology for several months. We are impressed by their technology and team they have assembled in their effort to decarbonize freight transport in America. We look forward to seeing how we can provide greater strategic value to the Company in the future.”
As previously announced,Taylor Transport out of Vancouver, WA has signed a binding purchase order for the first units produced from GEGI.
Additionally, the Company recently announced the partnership with the Portland Vancouver Junction Railroad. This strategic partnership will be crucial in the testing and deployment of the Company’s Glīders.
About Genesis Electronics Group, Inc.
Genesis Electronics Group, through Its wholly-owned subsidiary Glīd, is building first of Its kind autonomous road-to-rail shipping vehicles called Glīders. Glīders will enable fully-loaded semi-trailers access to rails where traditionally it didn’t make sense. Genesis Electronics Group plans on owning and operating each Glīder in its fleet, and providing a “Glider-as-a-Service” business model.
Forward-Looking Statements
This press release may contain “forward-looking statements.” Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements are included in our filings with the Securities and Exchange Commission, including the “Risk Factors” section of our annual disclosure report on the OTC Markets for the year ended December 31, 2020. Any forward-looking statement made by us in this release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise, except as may be required under applicable law.
Press Contact:
Genesis Electronics Group, Inc.
communications@genesis-electronics.com
FAQ
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