DALLAS, Jan. 28 /PRNewswire-FirstCall/ -- Evolution Fuels, Inc. (Pink Sheets: EVFN) (the "Company") today announced that it has filed a "Supplemental Information" filing which can be found on the Pink Sheets OTC Markets website (www.pinksheets.com) under "Filings" for Evolution Fuels.
In the filing, the Company describes the status of certain debts in the aggregate amount of approximately $7.9 million that have recently been settled through the assignment of its membership interest in Biodiesel Investment Group, the issuance of 2.5 million shares of its common stock, and less than $1 million of additional consideration.
This debt reduction is in addition to the reduction of debt announced January 12, 2010.
About Evolution Fuels, Inc.
Evolution Fuels, Inc. endeavors to market renewable transportation fuels at retail fuel stations that will provide blends of ethanol from 10% to 85% (E10 to E85), and biodiesel blends from 5% to 20% (B5 to B20). The Company's plan calls for the development of a chain of renewable fuel stations that extend from Texas to Mississippi that will be a combination of "Evolution Fuels"-branded fuel stations/convenience stores and western-motif truck stops modeled after the Willie's Place Truck Stop in Carl's Corner, TX. The Company's Web site is www.evolution-fuels.com.
Forward-Looking Statements Disclosure
This press release may contain "forward-looking statements" within the meaning of the federal securities laws. In this context, forward-looking statements may address the Company's expected future business and financial performance, and often contain words such as "anticipates," "believes," "estimates," "expects," "intends," "plans," "seeks," "will," and other terms with similar meaning. These forward-looking statements by their nature address matters that are, to different degrees, uncertain. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can provide no assurances that these assumptions will prove to be correct. In connection with the "safe harbor" provisions of the federal securities laws, including the Private Securities Litigation Reform Act of 1995, important factors that, among others, could cause or result in actual results and experience to differ materially from the Company's anticipated results, projections, or other expectations are disclosed in the Company's filings with the Securities and Exchange Commission. All forward-looking statements in this press release are expressly qualified by such cautionary statements, risks, and uncertainties, and by reference to the underlying assumptions.
SOURCE Evolution Fuels, Inc.