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PRESS
RELEASE
Exousia
Advanced Materials, Inc. Acquires Evergreen Global Investments Ltd.
CHANNELVIEW,
Texas, January 13, 2010 -- Exousia Advanced Materials, Inc. (OTC Bulletin Board:
EXOU - www.exousiacorp.com),
a company that manufactures advanced eco-friendly industrial products for
worldwide infrastructure applications announced today its acquisition of
Evergreen Global Investments Ltd. (“Evergreen”). Evergreen is a privately-held
company headquartered in New York City that operates several growth companies
that are focused on clean energy and the use of renewable energy.
The
acquisition price for Evergreen was $24 million for which Exousia issued 10
million shares of its Series A Preferred Stock, increasing Exousia’s
shareholders’ equity by an equal amount. In the month of December
2009, the revenues of the Evergreen entities were approximately $5
million.
According
to J. Wayne Rodrigue, president of Exousia, “this acquisition enables us to
immediately improve the financial condition of our company by expanding our
revenue base to more than $60 million in projected annual sales and adding
additional capital to our balance sheet all within our core, eco-friendly
business model.”
Evergreen’s
business is providing energy products such as home heating oil to its thousands
of customers located in the Northeastern part of the United States. One of
Evergreen’s companies, PriceEnergy (www.PriceEnergy.com)
is an industry leading e-commerce based business selling energy products and
services to its residential and commercial customers. Through the use of
proprietary technology, customers can use the Internet to check their local
current fuel oil price, place orders, arrange for payment, and manage deliveries
of heating oil, diesel fuel, and other energy products 24 hours a day, 7 days a
week. PriceEnergy is rapidly migrating its entire product base to include Green Energy
attributes.
Additionally,
Evergreen’s companies own and operate an oil terminal in Rockaway, New
Jersey with fuel storage tanks having an oil storage capacity of
75,000 barrels (3,150,000 gallons), office buildings, a fuel rack, trucks,
machinery, equipment, and a large customer base.
In
addition to its operations in the Northeastern part of the United States,
Evergreen owns an interest in one of the country’s largest biodiesel production
facilities located in South Carolina.
“By
integrating Evergreen and its Green Energy initiatives into
Exousia, we can expand the sales of our eco-friendly industrial products into
the Evergreen operational and distribution platform. This synergy, coupled with
the improved projected cash flow, enabled us to structure what we believe is a
highly capital efficient transaction that offers immediate financial benefits to
Exousia and its shareholders. In our view, it is exceptional to be able to make
an acquisition with so many strategic benefits under such favorable terms,”
Rodrigue said.
For more
news and information on Exousia Advanced Materials, Inc., please visit www.IRGnews.com/coi/EXOU
where you can find the CEO's video, a pre-acquisition fact sheet on the company,
investor presentations, and more.
Contact
Information: Bob Roddie, CFO, Telephone: 832-922-2625
About
Exousia Advanced Materials, Inc.
Exousia,
through its subsidiary Evergreen, is the provider of a variety of fuel products
to thousands of customers in the Northeastern part of the United States. It is
rapidly migrating its entire product base to include Green Energy attributes.
Exousia manufactures advanced eco-friendly resins, engineered particles,
high-performance coatings and structural products. Exousia products enhance
strength, durability, cost effectiveness and performance for a wide range of
manufacturing, commercial and construction applications. The company serves both
domestic and international markets. Additional information on Exousia can be
found at http://www.exousiacorp.com.
Safe Harbor
Statement
This
press release contains forward-looking statements that are subject to the safe
harbors created under the Securities Act of 1933 and the Securities Exchange Act
of 1934. We use words such as “anticipate,” “believe,” “continue,” “could,”
“estimate,” “expect,” “goal,” “intend,” “may,” “plan,” “project,” “seek,”
“should,” “target,” “will,” “would,” variations of such words and similar
expressions to identify forward-looking statements. In addition, forward-looking
statements include, among others, statements that refer to Evergreen’s expected
contributions to Exousia’s earnings, profits and EPS; projections of earnings,
revenue, costs or other financial items of Exousia, Evergreen and the combined
company; the anticipated value of the combined business to customers and
partners; the expected performance of Evergreen service, along with anticipated
growth and trends in the business or key markets of Exousia, Evergreen, and the
combined company; and plans, objectives and strategies for future operations.
Readers are cautioned that actual results could differ materially from those
expressed in any forward-looking statements. Factors that could cause actual
results to differ include: the ability of Exousia to successfully integrate
Evergreen operations and employees; the ability to realize anticipated benefits
of the proposed acquisition, including the expectation of greater revenue
opportunities, operating efficiencies and cost savings; the ability to ensure
continued performance and market growth of Evergreen’s business; continued
turmoil in global financial markets and economies; the availability and cost of
credit; the ability to successfully develop, introduce, and sell new products
and enhancements; changes in relationships with key customers, suppliers,
distributors, resellers, and others as a result of the acquisition; and other
factors affecting the industrial coatings and energy industries generally. In
addition, please refer to the risk factors contained in Exousia s SEC filings
available at www.sec.gov, including Exousia’s most recent Annual Report on Form
10-K and Quarterly Reports on Form 10-Q. Readers are cautioned not to place
undue reliance on any forward-looking statements, which speak only as of the
date on which they are made. The companies undertake no obligation to update or
revise any forward-looking statements for any reason.