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XFUELS INC Enters Into Equity Purchase Agreement for Financing of Up to $3.5 Million


News provided by

Xfuels Inc.

Aug 30, 2016, 08:00 ET

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DIDSBURY, Alberta, August 30, 2016 /PRNewswire/ --

Xfuels Inc. (OTC: XFLS) is pleased to report today that it has entered into an Equity Purchase Agreement ("EPA") with an affiliate of Southridge LLC ("Southridge"), an institutional investor.

The EPA provides Xfuels with the right, but no obligation, to sell stock to Southridge and the ability to designate the amount, minimum pricing, and timing of each capital draw-down, provided that the aggregate purchase amount available under the EPA is $3.5 million and ownership of Xfuels stock by Southridge is limited to 9.99% at any time, which as of August 29, 2016, would equal 6,121,101 shares.

There are no trading volume requirements in connection with the draw-downs; however, the maximum amount of capital that can be effectively drawn-down at any given time will be dependent on the then current market pricing and beneficial ownership of Xfuels stock by Southridge.

Before accessing capital through the EPA, Xfuels must register the shares that may be sold to Southridge.

"We are pleased to put together this financing structure," said Xfuels CEO, Michael McLaren. "Access to this amount of flexible financing with modest dilution and the protection of a reasonable floor provides us with the capital to execute on our business plan." Michael McLaren further stated, "The funds will be used to increase production in our natural gas well joint venture, as well as implement our technologies on the site to produce the pilot Gas To Liquids (GTL) system, Hydrogen production technology and our Carbon Fuel Cell technology. This results in Xfuels controlling all aspects of implementing our ground breaking technology."

"We are excited by the prospects of our investment in Xfuels," added Stephen M. Hicks, Founder and CEO of Southridge. "We believe the EPA provides a solid foundation for the execution of Xfuel's attractive business plan."

About Southridge LLC 

Since 1996, Southridge has made direct investment of over $1.8 billion into more than 250 growth companies globally, driven by its unique understanding of the complex issues facing these companies. In addition, their team provides advice on a range of corporate issues, from the process of becoming a public company, to individualized financing techniques, to optimized balance sheet management.

About XFuels, Inc. 

XFuels The Clean Petroleum & Power Company is a publicly held energy company based in Portland, Oregon USA, established to design, build, and operate regionally-integrated, small-to-midcap electricity and petroleum production facilities. XFuels is a leader in carbon-neutral energy solutions, as well as providing water and food technologies specifically designed to improve the quality of life on our planet.

The company's (patented and patent-pending) IP delivers one of the highest energy yields (electricity at sub-5 cents per kWh, and diesel fuel profitable at $25 a barrel oil without government subsidies), from a broad range of carbon-bearing inputs (forestry, agricultural, and urban waste including municipal solid waste and plastics), with one of the lowest capital expenditures of any known energy production method. One of XFuels technologies literally converts garbage to gas.

XFuels offers a range of low cost attractive modular systems via its hydrocarbon bio refinery platform (the XRefinery), which produce low cost electricity and advanced petroleum-equivalent fuels and chemicals in partnership with select small to mid-size industrial energy users ([email protected]) in target markets.

XFuels Clean Petroleum chemicals and fuels have the same molecular composition as traditional petroleum, offer premium performance with NEAR-ZERO environmental footprint, and with easy integration to full market penetration in today's existing petroleum vehicle fleet and distribution infrastructure.

For more information on Xfuels Inc. please see http://www.xfuels.com

Also you can visit us at Investors Hangout: http://investorshangout.com/Xfuels-Inc-XFLS-88175/

Safe Harbor: 

This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of Xfuels Inc., its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words "may," "would," "will," "expect," "estimate," "can," "believe," "potential" and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond Xfuels Inc.'s ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. More information about the potential factors that could affect the business and financial results is and will be included in Xfuels Inc.'s filings with the Securities and Exchange Commission.

CONTACT:
Bruce Haase
RedChip Companies
Tel: +1 407-644-4256
[email protected]

SOURCE Xfuels Inc.

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