ALLENTOWN, Pennsylvania, June 13, 2017 /PRNewswire/ --
Converde Energy USA, Inc. (OTC: XFUL) (the "Company" or "XFUL") announced today that on June 6, 2017, it entered into a Securities Purchase Agreement with GPL Ventures LLC ("GPL") in which GPL may purchase common stock equal to a value of up to Three Million Dollars ($3,000,000) when XFUL has qualified the necessary number of shares under Regulation A through an offering statement (Form 1-A). XFUL intends on filing the offering statement within the next thirty days.
"We are very excited to have this investment agreement in place as a primary funding vehicle for the company," said Brad Domitrovitsch, Chairman & CEO of XFUL. "The relationship with GPL will be key for us and our investors as we execute on the business plan to expand both organically and through acquisitions. Initial capital from GPL will be used for the growth of our energy business lines."
Additionally, on June 6, 2017, the Company issued to Minivest (http://www.minivest.com ) a Convertible Promissory Note (the "Note") in the principal amount of $100,000 to retain Minivest as its business advisor and gain access to an online marketing platform. Minivest shall give XFUL the ability to build a webpage within its website for the purpose of advertising itself. The Note accrues interest at the rate of eight percent (8%) per annum and is due in full on or before May 23, 2018.
"Minivest is proud to work with Converde Energy on its Regulation A Offering. Our team has the utmost confidence in XFUL, and we will continue to back their new and exciting direction into the energy sector while supporting their promising initiatives and vision for the future," Minivest management commented.
About Converde Energy USA, Inc. (XFUL)
XFUL and its group of companies focus on providing solutions in markets where energy production and water meet technology. Collectively, the subsidiaries are engaged in the energy sector as well as the design, construction and operation of regional water treatment facilities that serve the industrial, energy and government sectors.
Hydration Corporation of PA, LLC ("HCPA") is engaged in the businesses of water exploration, water augmentation, and the treatment of impacted waters. Notably, its intellectual property delivers one of the highest energy yields from a broad range of water-bearing assets, with one of the lowest capital expenditures of any other known water processes. American Energy Solutions, LLC provides treatment technologies that contribute to HCPA's business model of low-cost treatment and distribution. As a provider of design, this subsidiary is capable of repeatable and synergistic services across the value chain. Gilbert Oil & Gas Company is leveraging broad industry valuation experience to source drilling, operating, and partnership opportunities in the upstream oil and gas space. It is positioned to become a strong customer of XFUL's other subsidiaries while providing them with the foundation to attract other customers and enter new markets.
For additional information, visit: http://americanenergy-inc.com
This press release contains forward-looking statements, particularly as related to, among other things, the business plans of XFUL, statements relating to goals, plans and projections regarding XFUL's financial position and business strategy. The words or phrases "would be," "will allow," "intends to," "may result," "are expected to," "will continue," "anticipates," "expects," "estimate," "project," "indicate," "could," "potentially," "should," "believe," "think", "considers" or similar expressions are intended to identify "forward-looking statements." These forward-looking statements fall within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934 and are subject to the safe harbor created by these sections. Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions or orders that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of global economic conditions, the performance of management and our employees, our ability to obtain financing, competition, general economic conditions and other factors that are detailed in our periodic reports and on documents we file from time to time with the Securities and Exchange Commission. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. XFUL cautions readers not to place undue reliance on such statements. XFUL does not undertake, and XFUL specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement. Actual results may differ materially from XFUL's expectations and estimates.
SOURCE Converde Energy USA, Inc.