Evolution Fuels Provides Recap of Stock Dividends
01 December 2009 - 5:05AM
Business Wire
Evolution Fuels, Inc. (Pink Sheets: EVFN) (the “Company”) today
provided an update and a recap of the recently announced dividends
of common stock the Company holds in certain publicly traded
companies.
SWRS Dividend
The record date for the previously announced dividend of
Southwest Resources, Inc. (Pink Sheets: SWRS) has been extended
from November 30, 2009 to December 31, 2009.
Any shareholders of the Company owning more than 1,000 shares of
Evolution Fuels common stock as of the record date of December 31,
2009 shall receive a proportionate share of the one million five
hundred thousand (1.5 million) shares of SWRS common stock to be
distributed. The current market price of SWRC common stock is $0.10
per share. These dividend shares will be “restricted” as defined in
the Securities Act of 1933. Rule 144 allows for the public resale
of restricted securities only if certain holding period and other
conditions are satisfied. For non-affiliates of the SWRS, the
holding period is six months.
Southwest Resources expects to publish its Initial Company
Information and Disclosure Statement and current financial
statements to the Pink Sheets website and achieve the tier ranking
of “Current Information” prior to December 31, 2009.
Southwest Resources, Inc. is focused on the exploration,
development, and production of natural resources, primarily in the
southwest region of the United States. The natural resources
contemplated include oil and natural gas, specialty gases, and
precious metals.
EVLN Dividend
Any shareholders of the Company owning more than 1,000 shares of
Evolution Fuels common stock as of the record date of January 8,
2010 shall receive a proportionate share of the total two million
(2.0 million) shares of Evolution Resources, Inc. (OTCBB: EVLN)
common stock distributed. The current market price of EVLN common
stock is $4.00. These dividend shares will be “restricted” as
defined in the Securities Act of 1933. Rule 144 allows for the
public resale of restricted securities only if certain holding
period and other conditions are satisfied. For non-affiliates of
the EVLN, the holding period is six months.
Evolution Resources (EVLN) is an advanced biofuels production
company focused on combining the latest in cellulosic process
technologies with existing biomass assets for the production of
cellulosic ethanol. Evolution Fuels will distribute 100% its
ownership of Evolution Resources common stock pursuant to the
dividend.
EVFN Dividend
The additional dividend of Evolution Fuels common stock will be
performed on a simple 1-1 basis, whereby any shareholders owning at
least one share of Evolution Fuels common stock as of the record
date of February 23, 2010 shall receive an equivalent number of
newly issued shares. These dividend shares will be “restricted” as
defined in the Securities Act of 1933. Rule 144 allows for the
public resale of restricted securities only if certain holding
period and other conditions are satisfied. For non-affiliates of
the Company, the holding period is six months.
About Southwest Resources, Inc.
Southwest Resources, Inc. (Pink Sheets: SWRS) is focused on the
exploration, development, and production of natural resources,
primarily in the southwest region of the United States. The natural
resources contemplated include oil and natural gas, specialty
gases, and precious metals.
About Evolution Resources, Inc.
Evolution Resources, Inc. (OTCBB: EVLN) is a renewable energy
company focused on the production of cellulosic ethanol and
biodiesel transportation fuels. Presently, the company is perusing
certain proposed projects that will leverage existing distressed
assets and infrastructure in the Southeast and Northwest. The
management team shares key members with Evolution Fuels (Pink
Sheets: EVFN), which recently announced a disbursement of two
million shares of EVLN stock that was held on its books to its
current shareholders in the form of a dividend. For additional
information on Evolution Resources, please visit its corporate
website: www.evoresources.com.
About Evolution Fuels, Inc.
Evolution Fuels, Inc. endeavors to market renewable
transportation fuels at retail fuel stations that will provide
blends of ethanol from 10% to 85% (E10 to E85), and biodiesel
blends from 5% to 20% (B5 to B20). The Company’s plan calls for the
development of a chain of renewable fuel stations that extend from
Texas to Mississippi that will be a combination of “Evolution
Fuels”-branded fuel stations/convenience stores and western-motif
truck stops modeled after the Willie’s Place Truck Stop in Carl’s
Corner, TX. 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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