Vega Biofuels Enters Into Agreement to Acquire Biochar Now's Legal Hemp and Marijuana Division
April 03 2014 - 9:00AM
Access Wire
NORCROSS, GA / ACCESSWIRE / April 3, 2014 / VEGA BIOFUELS, INC.
(Pink Sheets VGPR) announced today it has entered into an Agreement
to acquire the Legal Hemp and Marijuana Division of Colorado based
Biochar Now, LLC.
Biochar Now, LLC currently markets its biochar product to
growers in various agricultural industries. The legal hemp
and marijuana division of the Company has increased significantly
with the legalization of medical marijuana in several states and
the legalization of recreational marijuana use in Colorado and
Washington.
Vega Biochar, a wholly subsidiary of Vega Biofuels, Inc. will
continue marketing biochar to the current clients of Biochar Now's
legal hemp and marijuana division and plans to immediately expand
its marketing to growers throughout the United States and around
the world.
"We welcome the energy and resources that Vega brings to this
business," stated James Gaspard, Co-Founder of Biochar Now, LLC.
"This segment of the biochar industry is expanding
tremendously now and we look forward to working with Vega as they
expand this part of their business. The biochar that will be
marketed by Vega has had years of extremely successful results by
growers and is now a proven soil amendment in the legal hemp and
marijuana industry. It is important to realize that all
biochars are not created equal. The results we have experienced
with our biochar in greatly increasing our customers' yields cannot
be translated to other manufacturers biochar products. This
acquisition puts Vega Biochar far ahead of its competition."
Biochar is a highly absorbent, specially designed charcoal-type
product used as a soil amendment for the agricultural
industry. It is made under specific conditions with the
intent to be applied to soil as a means to increase soil fertility
and agricultural yields.
"We are now in a position to become a very significant player in
the biochar business," stated Michael K. Molen, Chairman/CEO of
Vega Biofuels, Inc. "With the resources that we can bring to this
business and the quality of the product we are producing, Vega
Biochar will be a significant part of our overall business.
I've been able to spend quite a bit of time with James and have
learned a lot about this business and how his product is greatly
increasing the yields of his grower clients. Every grower
that we have talked to is interested in this product and excited
about the results they see in their grows. For now, we will
continue to manufacture our biochar product in Colorado."
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
info@vegabiofuels.com
vegabiofuels.com
SOURCE: Vega Biofuels, Inc.