Exousia Advanced Materials, Inc. Provides Acquisition Update

CHANNELVIEW, Texas, Feb. 16 /PRNewswire-FirstCall/ -- Exousia Advanced Materials, Inc. (OTC Bulletin Board: EXOU) -www.exousiacorp.com, a company that manufactures advanced eco-friendly industrial products for worldwide infrastructure applications today provided an update on the recent acquisition of New York City-based Evergreen Global Investments Ltd.

On Friday, February 12, 2010, Exousia Advanced Materials received comments from the SEC regarding the filings associated with the acquisition and will be sending proxies to shareholders of record for the upcoming shareholders meeting to be held in Houston, Texas.  Filings will be available on the EDGAR database for public review and audited financials will be available in the coming weeks for the acquired entities.

Over the past few weeks, the company has made great strides in integrating the entities and delivering value to both customers and shareholders.  In addition to the increased equity of approximately $24 million, the company is identifying synergies across product lines and in key markets such as China and will provide updates on these initiatives over the next few weeks.

J. Wayne Rodrigue, Chairman of the Board of Exousia noted, "The recent weather activity in the northeast, while providing a tremendous boost to demand for Evergreen products as evidenced by the $5.7 million in revenue and $725,000 in EBITDA in December for Evergreen entities, caused a slight delay in the SEC finalizing our filings as their offices were closed for several days.  We are pleased to note that as reported in January, the acquisition is complete, and we are looking forward to expanding our core businesses."  

About Exousia Advanced Materials, Inc.

Exousia, through its subsidiary Evergreen, is the provider of a variety of fuel products to thousands of customers in the Northeastern part of the United States. It is rapidly migrating its entire product base to include Green Energy attributes. Exousia manufactures advanced eco-friendly resins, engineered particles, high-performance coatings and structural products. Exousia products enhance strength, durability, cost effectiveness and performance for a wide range of manufacturing, commercial and construction applications. The company serves both domestic and international markets. Additional information on Exousia can be found at http://www.exousiacorp.com.

Safe Harbor Statement

This press release contains forward-looking statements that are subject to the safe harbors created under the Securities Act of 1933 and the Securities Exchange Act of 1934. We use words such as "anticipate," "believe," "continue," "could," "estimate," "expect," "goal," "intend," "may," "plan," "project," "seek," "should," "target," "will," "would," variations of such words and similar expressions to identify forward-looking statements. In addition, forward-looking statements include, among others, statements that refer to Evergreen's expected contributions to Exousia's earnings, profits and EPS; projections of earnings, revenue, costs or other financial items of Exousia, Evergreen and the combined company; the anticipated value of the combined business to customers and partners; the expected performance of Evergreen service, along with anticipated growth and trends in the business or key markets of Exousia, Evergreen, and the combined company; and plans, objectives and strategies for future operations. Readers are cautioned that actual results could differ materially from those expressed in any forward-looking statements. Factors that could cause actual results to differ include: the ability of Exousia to successfully integrate Evergreen operations and employees; the ability to realize anticipated benefits of the proposed acquisition, including the expectation of greater revenue opportunities, operating efficiencies and cost savings; the ability to ensure continued performance and market growth of Evergreen's business; continued turmoil in global financial markets and economies; the availability and cost of credit; the ability to successfully develop, introduce, and sell new products and enhancements; changes in relationships with key customers, suppliers, distributors, resellers, and others as a result of the acquisition; and other factors affecting the industrial coatings and energy industries generally. In addition, please refer to the risk factors contained in Exousia's SEC filings available at www.sec.gov, including Exousia's most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date on which they are made. The companies undertake no obligation to update or revise any forward-looking statements for any reason.

Contact: Wayne Rodrigue, +1-832-236-0090, [email protected]

SOURCE Exousia Advanced Materials, Inc.