OTCPK:GNOLF - Post by User
Post by
UpPeriscopeon Oct 28, 2019 1:34pm
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Post# 30277276
Genoil first announced it was relocating to Curacao at the
Genoil first announced it was relocating to Curacao at the November 18, 2016 AGM (Genoil's most recent AGM?)-with near unanimous shareholder support.
On May 29, 2018 Genoil announced it had "finally received a letter of satisfaction from Corporations Canada approving Genoil's move to Curacao."
The move to Curacao was the key to unlock Canadian shares, do business anywhere in the world they pleased, free of policy embargos from US or Canadian governments. And it was to be done on "a timely basis".
"Genoil intends to now take all necessary steps to continue the corporation to Curacao on a timely basis. This continuance has been planned for some time, as it will allow Canadian shareholders to once again trade Genoil stock. Curacao has a reputation as being one of the best jurisdictions and has one of the largest NY Stock Exchange energy company domiciled there. The Curacao jurisdiction will help Genoil to do business throughout the world, save on taxes, and still be located in an important energy center. Curacao offers global companies protection from political risks associated from doing business in different areas of the world."
As to IMO 2020, Davey confidently stated: "Genoil expects its Hydroconversion Upgrader to be the leading choice of both upstream and downstream energy sectors including the Maritime Industry for compliance". To the Kool-Aiders: post how much of this has materialized since Genoil is moving in a timely manner.
Announcement in full: https://finance.yahoo.com/news/genoil-receives-letter-satisfaction-canadian-100000428.html