Exousia Updates Acquisition of Evergreen

CHANNELVIEW, Texas, April 19 /PRNewswire-FirstCall/ -- Exousia Advanced Materials, Inc. (OTC Bulletin Board: EXOU), a company that manufactures advanced eco-friendly industrial products for worldwide infrastructure applications announces that the implementation and integration of its acquisition of Evergreen Global Investments Ltd. ("Evergreen") is proceeding according to plan.

In a prior press release on January 13, 2010, Exousia announced it acquired 100% of the stock of Evergreen through a reverse merger of an Exousia subsidiary, formed for the sole purpose of the merger, whereby Evergreen became the surviving entity and a wholly owned subsidiary of Exousia.

Evergreen owns 82% of the outstanding common stock of PriceEnergy.com, Inc. ("PriceEnergy"). PriceEnergy is an industry leading e-commerce based business selling energy products and services to its residential and commercial customers. Through the use of proprietary technology, customers can use the Internet to check their local current fuel oil price, place orders, arrange for payment, and manage deliveries of heating oil, diesel fuel, and other energy products 24 hours a day, 7 days a week. PriceEnergy is rapidly migrating its entire product base to include Green Energy attributes.

In addition, Evergreen has an interest in a South Carolina biodiesel production facility ("Biodiesel Production Facility"). The Biodiesel Production Facility is a producer of soybean oil based biodiesel, its production by-product glycerin, and has a 36-million gallon per year production capacity for biodiesel. The Biodiesel Production Facility produces to the ASTM / EN 14214 biodiesel specifications and is one of a handful of biodiesel facilities to produce to the European Union ("EU") biodiesel specifications. The Biodiesel Production Facility has been a member of the National Biodiesel Board and has taken great time and effort to become BQ-9000 accredited by the National Biodiesel Board. In December 2009, the U.S. House of Representatives passed an incentive package providing for a $1.00 per gallon credit to provide incentives to produce renewable energy resources such as biodiesel. In early 2010, the U.S. Senate passed a similar piece of legislation that is currently in the reconciliation process with the House bill.

Within the group of Evergreen companies, is the 3.15 million gallon capacity Rockaway Oil Terminal located in Rockaway, New Jersey. The Rockaway Oil Terminal is leased pursuant to a 20-year triple net lease and Evergreen receives monthly rent and throughput and delivery fees from the operations at the terminal.

Wayne Rodrigue, CEO of Exousia, stated that "While the initial implementation and integration of the Evergreen acquisition into the Exousia operations have taken longer than we had planned, we remain confident that the cash flows from PriceEnergy, from the lease on the Rockaway Oil Terminal, and from the favorable legislation impacting the Biodiesel Production Facility shall meet our projections. We are excited about the opportunities that continue to emerge from our acquisition of Evergreen."

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.  

SOURCE Exousia Advanced Materials, Inc.