updated 2/24/2011 10:16:35 AM ET 2011-02-24T15:16:35

NEW YORK, Feb. 24, 2011 (GLOBE NEWSWIRE) -- Green EnviroTech Holdings Corp. (OTCBB:WCRM) and its wholly-owned subsidiary, Green EnviroTech Corp., a leading plastics recovery, separation, cleaning, and recycling company, announces that the company has successfully received Bridge Financing, details of which can be found in an 8k filed with the SEC on January 27th, 2011. Proceeds of this transaction will be used to further the company's development of its recycling facilities in Wisconsin and California. Legend Securities, Inc., a FINRA licensed broker dealer, was the placement agent on the transaction.

Gary De Laurentiis, CEO, Green EnviroTech stated, "We are pleased to have worked with Legend Securities on this transaction. Their management team recognizes the opportunity our company has to revolutionize the plastics recycling industry and the capital which they raised will enable us to move toward bringing our facilities online."

The Company also wanted to clarify an item on its prior release of adding Mr. Perches to Green EnviroTech management team. Mr. Perches has served as an advisory board member to California State University Hayward School's Department of Industrial Technology.

About Green EnviroTech Corp.

Green EnviroTech Corp. is a large scale plastics recycling and recovery company which removes and cleans contaminants from recycled automotive vehicles to produce a compounded resin product. Its unique patented process significantly reduces the amount of shredder residue going to landfills up to 40 percent, which creates considerable cost savings for metal recyclers and the environment. The company has developed strategic partnerships with metal recycling companies and plans to leverage its recovery and manufacturing processes to primarily focus on automotive and durable goods applications and the production of sweet crude oil. Green EnviroTech Corp. is a wholly-owned subsidiary of Green EnviroTech Holdings Corp. (OTCBB:WCRM).

The Green EnviroTech Holdings Corp. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=8732

Media Services by: EquityDigest.com & Microcap1.com

Safe Harbor Statement:

This press release contains forward-looking statements. Any statements in this news release that are not statements of historical fact may be considered to be forward-looking statements. Written words, such as "may," "will," "expect," "believe," "anticipate," "estimate," "intends," "goal," "objective," "seek," "attempt," or variations of these or similar words, identify forward-looking statements. By their nature, forward-looking statements and forecasts involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the near future. These and further risks and uncertainties, please see our filings with the Securities and Exchange Commission. We file annual, quarterly and special reports, proxy statements and other information with the SEC. Read and copy any reports, statements or other information that we file at the SEC's public reference room at 100 F Street, N.E., Washington, D.C., 20549. Call the SEC at 1-800-SEC-0330 for information on the public reference room. Our public filings with the SEC also are available from commercial document retrieval services and at the Web site maintained by the SEC at http://www.sec.gov .

CONTACT: Investor Relations of Green EnviroTech Holdings Inc.
         (888) 405-3160 ext. 1

© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved


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