GENOIL ANNOUNCES DIRECTOR RESIGNATION
Calgary, Alberta, Canada – May 27, 2008 – Genoil Inc. (the “Corporation”) has announced that Harry Bloomfield has tendered his resignation as director, member of the Audit Committee, and member of the Compensation Committee of the Corporation, such resignation to be effective as of May 27, 2008.
The Corporation’s directors are currently reviewing candidates to assume Mr. Bloomfield’s roles and responsibilities within the Corporation. Information respecting any such candidates identified prior to the date of the Corporation’s upcoming Annual and Special Meeting of Shareholders (the “Meeting”) is expected to be circulated by future press release with such candidates expected to be proposed for nomination by way of amendment from the floor at the Meeting. The Corporation’s directors wish to express their gratitude to Mr. Bloomfield for his contributions to the Corporation during the period of his service with the Corporation.
Genoil is an international engineering technology development company based in Alberta, Canada that develops innovative hydrocarbon, oil and water separation, and marine technologies.
For further information contact:
Chairman and CEO
ADVISORY: The TSX Venture Exchange has neither approved nor disapproved of the information contained herein.