Company Set to Acquire Six Year Old Colorado Export Business to Ship Biochar to Growers in Latin America
NORCROSS, GA / May 15, 2014 / VEGA BIOFUELS, INC. (Pink Sheets VGPR) announced today that it is in the process of acquiring one hundred percent of a six year old Colorado export business that will become the Company's international export arm to meet the tremendous demand for its biochar product in Latin America.
Vega recently announced it has acquired the Legal Hemp and Marijuana Division of Colorado based Biochar Now, LLC. In addition to having an exclusive agreement for marketing its biochar product to the Legal Hemp and Marijuana markets, the Company is also actively marketing to various other agricultural industries. In order to accommodate current orders, the Company is acquiring the existing export business that specializes in Latin American markets.
"This is a major step for our Company," stated Michael K. Molen, Chairman/CEO of Vega Biofuels. "Once orders started coming in from Latin America, we felt that it was critical to our long term business strategy to involve individuals that specialize in doing business in that part of the world. The largest order to date is coming from Ecuador. The amount of biochar that will be shipped to that country is greater than the entire amount of product that we have sold so far. We are continuing to receive a lot of attention from hemp and marijuana growers in Colorado as well as Washington. "
Michael K. Molen, continued to state, "There is a tremendous amount of agricultural business throughout Latin America and we plan to market heavily in that part of the world. This acquisition will expedite that process. We will have details concerning the acquisition in the next few days. I also want to thank our shareholders for their continued patience and support during this process."
Vega's Biochar is a highly absorbent specially designed charcoal-type product primarily used as a soil enhancement for the agricultural industry to significantly increase crop yields. The Company's Biochar offers a powerfully simple solution to some of today's most urgent environmental concerns. The production of Biochar for carbon sequestration in the soil is also a carbon-negative process.
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: Michael K. Molen
Vega Biofuels, Inc.: 800-481-0186
SOURCE: Vega Biofuels, Inc.
Release ID: 44694