November 2, 2010
Green Automotive Company Expands Board and Appoints New CEO
DALLAS--(BUSINESS WIRE)-- Green Automotive Company Corporation (PINKSHEETS: GACR, News), an emerging leader in clean technology vehicles for consumers in North America, this morning announced at its Special Shareholders Meeting several changes in the company’s management, including the addition of Mr. Ben Rainwater and Thad Bachman to its Board of Directors, the approval of all three proposals submitted to the company’s shareholders, and the results of management's recent trip to China as it positions itself for a nationwide launch of its all-electric vehicles in North America.
Speaking at the company’s Special Meeting this morning, Daniel J Elliott, the newly appointed Chairman of the Board and Chief Executive Officer of the Company, presented to attending shareholders a very exciting overview of the upcoming plans and strategic alliances developed by the company based on recent developments from their October trip to China, together with the results of the vote on several proposals submitted to the shareholders, including expanding the company’s Board of Directors from three to five, approving a new financing for the issuance of 200,000,000 shares at not less than $.50/share, and approving the increase of the company’s authorized shares of capital stock from 700,000,000 to 1,000,000,000.