Biochar Now’s Reseller Now a Subsidiary of Vega
NORCROSS, GA / ACCESSWIRE / JUNE 12, 2014 / VEGA BIOFUELS, INC. (Pink Sheets VGPR) is pleased to announce it has acquired 100% of Gone Green, Inc., a "Biochar Now, LLC" Reseller.
Gone Green, Inc., established in 2008, is a supplier of year-round gardening supplies and is the only Reseller of Biochar Now, LLC with the rights to market the Company’s biochar product to all industries worldwide. The unique Reseller Agreement is the only one of its kind and among other things provides Vega with a "favored nation" status on pricing. The transaction consisted of a combination of cash and restricted stock in Vega Biofuels.
Vega recently launched its “Grow With Us” marketing campaign to market biochar to the legal hemp and marijuana industries. The Company’s biochar is manufactured by industry leader, Biochar Now, LLC.
"We are very proud to have Gone Green as a part of our Company," stated Michael K. Molen, Chairman/CEO of Vega Biofuels, Inc. "We feel that this acquisition could be a game changer for us. We have been very successful to date selling biochar to customers in the agricultural business. However, we did not have full access to the many other industries where biochar can be used. What we were really after in this deal was the Reseller Agreement that Gone Green has with Biochar Now. We now have a strong foothold in the multi-faceted biochar business and we expect it to significantly impact our revenue numbers this year. Our plan for now is to keep Gone Green a subsidiary of Vega and move all of our biochar business into that subsidiary. This would give us the option of spinning the subsidiary off into its own public entity down the road and could provide a nice dividend for our shareholders."
The Reseller Agreement that Vega inherits is the only one of its kind and gives the Company a significant discount in pricing and more importantly allows Vega to market the biochar for the many other applications, including plastics and oil & gas.
Vega’s Biochar is a highly absorbent specially designed charcoal-type product that among other things can be used as a soil enhancement for the agricultural industry to significantly increase crop yields. The Company’s Biochar offers a powerfully simple solution to some of today’s most urgent environmental concerns. The production of Biochar for carbon sequestration in the soil is a carbon-negative process.
For more in formation about Gone Green, Inc. visit http://www.gonegreeninc.com/
For more information about Vega Biofuels, Inc. visit http://www.vegabiofuels.com/
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
SOURCE: Vega Biofuels, Inc.