DGAP-News: Universal Bioenergy in Negotiations for $10 to $15 Million in Capital for Growth and Expansion
(firmenpresse) - Universal Bioenergy Inc.
08.05.2013 08:00
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Forecast Annual Sales From Coal, Natural Gas and Electric Power in the $600
Million Range
IRVINE, Calif., 2013-05-08 08:00 CEST (GLOBE NEWSWIRE) --
Universal Bioenergy Inc., (OTCMarkets:UBRG), a publicly traded independent
diversified energy company, that markets natural gas, petroleum and coal,
announced it's in negotiations with several companies to obtain additional
capital funding for the growth and expansion of the Company. The Company is
negotiating a $10 million credit facility and an asset based facility in the
$10 to $15 million range. The total combined funding is in the $20 to $30
million range per month, or an estimated $240 to $360 million annually.
The funds will be used for working capital, mergers and acquisitions of other
companies in the energy industry, and for its aggressive plans for future
growth and expansion. The capital funding and credit facilities will also
provide strategic access to purchase major supplies of natural gas, coal, and
electricity for its growing customer base throughout the U.S., Europe and Asia.
Universal's President Vince M. Guest states, 'We are very pleased at how the
progress is coming with obtaining this capital funding. If we are successful in
closing these funding transactions, this will allow us to expand our
international coal division at a much faster pace, and generate greater
revenues for our electric power and petroleum divisions. We believe the outlook
for the company is very strong, and we have a dedicated and talented team of
professionals to achieve our expansion goals. With the capital funding, we are
projecting combined annual sales from coal, natural gas and electric power in
the $600 million range. This should have a positive effect on our
shareholders.'
About Universal Bioenergy Inc.
Founded in 2004, Universal Bioenergy Inc., is a publicly traded independent
diversified energy company that produces and markets natural gas, petroleum,
coal and propane. We market energy resources to the largest public utilities,
electric power producers and local gas distribution companies in the U.S., that
serve millions of commercial, industrial and residential customers. We are also
engaged in the acquisition and development of existing or recently discovered
oil and gas fields, leases and surface coal mines. For more information visit
www.universalbioenergy.com
Safe Harbor Statement - There are matters discussed in this media information
that are forward looking statements within the meaning of Rule 175 under the
Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934,
and are subject to the safe harbor created by those rules. Such statements are
only forecasts and actual events or results may differ materially from those
discussed. For a discussion of important factors which could cause actual
results to differ from the forward looking statements, refer to Universal
Bioenergy Inc.'s most recent annual report and accounts and other SEC filings.
The company undertakes no obligation to update publicly, or revise, forward
looking statements, whether as a result of new information, future events or
otherwise, except to the extent legally required.
CONTACT: Media Relations:
Solomon Ali at 704-837-5705
News Source: NASDAQ OMX
08.05.2013 Dissemination of a Corporate News, transmitted by DGAP -
a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Universal Bioenergy Inc.
United States
Phone:
Fax:
E-mail:
Internet:
ISIN: US91337M1045
WKN:
End of Announcement DGAP News-Service
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Datum: 08.05.2013 - 08:00 Uhr
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News-ID 257381
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