SHERIDAN, WY / ACCESSWIRE / August 14, 2014 / Next Fuel, Inc. (OTCQB: NXFI) (the "Company"), a waste water technology and service provider that offers services to the oil and gas industry, as well as other industrial water users, announced today it has signed a definitive agreement for One Million Dollars ($1,000,000.00) via the sale of unregistered equity securities. The 1,800,000 shares of common stock were sold to two unaffiliated individuals from the People's Republic of China and are subject to a Lock-up Agreement. The Company has agreed to register the shares within 120 days. NXFI expects the transaction to close on or before August 27th.
"This capital infusion will expedite our marketing efforts with the Company's water treatment technology that we've been field testing over the past few months", stated Robert Craig, Chairman and CEO of Next Fuel, Inc. "We are expecting to have several of our units operating in commercial applications this calendar year", concluded Mr. Craig.
About Next Fuel, Inc.
Next Fuel, Inc. is a provider of water consulting, technology and services to the oil and gas industry as well as other industrial water users in agriculture and food processing. The Company is focusing its efforts on water treatment technologies that offer solutions for low cost, high volume commercial remediation.
The Company continues to develop its Low Energy-input Pervaporation Technology for providing the oil and gas industry with a new cost-effective method for treating waste water that contains the most environmentally challenging, high salt, and total dissolved solids used or produced in U. S. oil and gas operations.
In collaboration with leading research institutes, the Company intends to identify, develop or acquire a portfolio of growth opportunities with compelling market potential that are consistent with clean energy and environmental stewardship. Current projects for longer term commercialization include processes for carbon dioxide conversion and carbon loop closure, and biological fuel cells.
This announcement contains forward-looking statements, including statements regarding the timing of future acquisitions and future products and services to be offered by the Company, all of which involve risks and uncertainties. Actual results could differ materially from those discussed. Factors that could cause or contribute to such differences include: the results of due diligence investigations, negotiations between the Company and the seller of certain water treatment equipment, and other factors discussed in the Company's filings with the Securities and Exchange Commission. All forward-looking statements are based on information available to the Company as of the date of this news release, and the Company assumes no obligation to update such statements.
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Next Fuel, Inc.
SOURCE: Next Fuel, Inc.