NORCROSS, Ga., April 21, 2011 /PRNewswire/ -- VEGA BIOFUELS, INC. (Pink Sheets: VGPR) announced today that the Company will amend its Articles of Incorporation to reduce the total number of Authorized Common Shares that may be issued by the Company.
Article IV of Vega's Articles of Incorporation will be amended to reduce the number of Authorized Common Shares that may be issued by the Company from 50 billion to 10 billion.
"This Amendment is part of our continuing effort to restructure the Company's share structure as we move forward with building our bio-coal manufacturing plant in South Georgia," stated Michael K. Molen, Chairman/CEO of Vega Biofuels. "We will be providing additional details about the South Georgia manufacturing plant in the next few days."
Vega recently announced its plans to build a manufacturing plant in South Georgia that when completed will produce green energy bio-coal for use in existing coal fired power plants around the world.
Certain statements in this release constitute forward-looking statements or statements which may be deemed or construed to be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words "forecast," "plan," "project," "intend," "expect," "should," "would," and similar expressions and all statements, which are not historical facts, are intended to identify forward-looking statements. These forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance (finance or operating) or achievements to differ from future results, performance (financing and operating) or achievements expressed or implied by such forward-looking statements.
CONTACT: Vega Biofuels, Inc.: 800-481-0186
SOURCE Vega Biofuels, Inc.