Evolution Fuels, Formerly Known as Earth Biofuels, to Make Stock Dividend
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DALLAS, May 18, 2009 (GLOBE NEWSWIRE) -- Evolution Fuels, Inc. (Pink
Sheets:EBOF) (the "Company") today announced that its Board of Directors has
declared a stock dividend to stockholders of record as of June 1, 2009. All
shareholders on record as of June 1, 2009 will be issued one (1) additional
share of common stock for every common share held.
The Company plans to have the aforementioned stock dividend paid and become
effective on June 3, 2009. The payment of the dividend will not require an
increase in the total number of authorized shares of common stock nor is there a
need for an exchange of certificates. Evolution Fuels trading symbol will change
within the next two weeks pursuant to its recently announced name change. The
Company will make an announcement when a new ticker is assigned and becomes
effective.
Evolution Fuels' CEO, Dennis McLaughlin, stated, "We have elected to implement
the described stock dividend to reward our shareholders who have supported the
Company through the recent changes in the renewable fuels industry and the
Company's business focus. As stated before, the Company's mission is to help the
United States achieve energy independence through the creation of downstream
renewable fuels retail outlets."
About Evolution Fuels, Inc.
The Company endeavors to develop retail renewable fuel stations and truck stops
modeled after the Willie's Place Truck Stop in Carl's Corner, TX, and to supply
biodiesel to these retail locations from its biodiesel production facility
located in Durant, Oklahoma. The Company's Web site is www.evolution-fuels.com.
Forward-Looking Statements Disclosure
This press release may contain "forward-looking statements" within the meaning
of the federal securities laws. In this context, forward-looking statements may
address the Company's expected future business and financial performance, and
often contain words such as "anticipates," "believes," "estimates," "expects,"
"intends," "plans," "seeks," "will," and other terms with similar meaning. These
forward-looking statements by their nature address matters that are, to
different degrees, uncertain. Although the Company believes that the assumptions
upon which its forward-looking statements are based are reasonable, it can
provide no assurances that these assumptions will prove to be correct. In
connection with the "safe harbor" provisions of the federal securities laws,
including the Private Securities Litigation Reform Act of 1995, important
factors that, among others, could cause or result in actual results and
experience to differ materially from the Company's anticipated results,
projections, or other expectations are disclosed in the Company's filings with
the Securities and Exchange Commission. All forward-looking statements in this
press release are expressly qualified by such cautionary statements, risks, and
uncertainties, and by reference to the underlying assumptions.
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CONTACT: Evolution Fuels, Inc.
Randy Hepler, Media & Investor Relations
866-765-4940
investors@evolution-fuels.com
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