CORONA, Calif. / January 22, 2014 / Accesswire / Extreme Biodiesel Inc. (PINK:XTRM) today announced the following updates.
The Company is in the process of terminating all agreements with Promethean Biofuels to pursue direct negotiations with an Indian Casino located on a Reservation in Southern California.
Company President Joe Spadafore stated “The relationship with Promethean is being terminated in the best interests of our shareholders as we feel Promethean has not performed. There is a silver lining however in that Extreme Biodiesel is currently pursuing several other prospects including negotiations with an Indian Casino located on an Indian Reservation in Southern California. This is very positive for Extreme, as working directly with the Indians should enable increased profit potential for the Company as well as expansion into other areas.”
Due to the terms of an NDA Extreme Biodiesel is not able to disclose the name of the Indian party just yet, but we can announce that testing of Extreme Biodiesel's equipment is currently being conducted on the reservation. Furthermore, we anticipate a joint press announcement upon execution of a formal agreement.
About Extreme Biodiesel
Extreme Biodiesel is an alternative fuel and recycling company. Our mission is to provide a cost-effective, high-quality alternative diesel fuel, create "green" jobs, reduce the environmental impact of fossil fuels and diminish US reliance on foreign oil. Extreme Biodiesel is currently investigating acquisition opportunities related to Bio Diesel and Real Estate
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Source: Extreme Biodiesel Inc.