Encore Energy Systems Completes Acquisition of BioConversions International and Schedules Additional Biofuel Acquisitions
February 11 2009 - 11:37AM
Marketwired
Encore Energy Systems (PINKSHEETS: ENCS) announced today it
completed its acquisition of BioConversions International. The
transaction record date is 5 February 2009.
All record-date stockholders and all prior EGVI stockholders
will receive, pro rata, $2,000,000 in Convertible Preferred Stock.
The Preferred Stock may be converted into Common Stock annually.
The Conversion feature will expire in 5 years.
This dividend is in addition to the previously declared cash
dividend whereby all royalty income from the Company's patents will
be distributed directly to stockholders. Shareholders will receive
new Preferred Stock paying yearly dividends of cash or common stock
upon redemption.
Investors should expect regular updates and press releases on
the following:
-- New web sites, corporate image and published business plans
-- Details regarding geothermal royalty schedule, and the Preferred Stock
dividends
-- Published financial reports on the combined entities no later than 1
March 2009
-- Guidance on 2008 performance and Revenue and Debt elimination to be
released before financial reports
-- Financial projections regarding both revenues and asset growth through
the company's planned acquisitions
-- New LOIs and planned acquisitions of various biofuel production
facilities
-- Biofuel production and distribution agreements
About Encore Energy and BioConversions
ENCS is an international aggregator bio-diesel reactor
technology, fuel distribution, production systems and fuel
production facilities.
The Company also owns the patents for the use of grey-water, and
domestic water in heat exchanger systems. They also provide all
forms of conventional geothermal heat exchange systems. See our
video at http://www.encoreenergyinc.com. The Company licenses its
patented technology to other energy-related businesses.
Safe-Harbor Statement
This press release contains statements (such as projections
regarding future performance) that are forward-looking statements
as defined in the Private Securities Litigation Reform Act of 1995.
Actual results may differ materially from those projected as a
result of certain risks and uncertainties. The company's web-site
version of this press release contains various RISK FACTORS (and
are incorporated herein by reference) and should be read before any
investment decision.
Contact: Encore Energy Systems, Inc. Investor Relations Email
Contact 888.234.0963
Encore Energy Systems (CE) (USOTC:ENCS)
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