SEATTLE, March 17, 2010 (GLOBE NEWSWIRE) -- GeoBio Energy, Inc. (Pink Sheets:GBOE) ("GeoBio" or the "Company") today announced that it has engaged the financial advisory and placement agent services of I-Bankers Securities, Inc. ("I-Bankers") to assist in raising financing for the implementation of the Company's growth strategy, including acquisitions of businesses in the natural gas and oil services. GeoBio is currently planning to raise up to $20 million in capital financing over the next 3 months, in connection with closing two (2) proposed acquisitions in the oil and natural gas services industry.
GeoBio is finalizing the terms of the stock purchase agreement relating to the acquisition of (i) Farmington, New Mexico based H&M Precision Products, Inc. ("H&M") (originally announced by GeoBio on November 13, 2009), and (ii) a Colorado based civil construction company operating in the natural gas industry. GeoBio is currently working on completing both transactions within the next 90 days.
Lance Miyatovich, Chief Executive Officer of GeoBio, states, "We look forward to working with I-Bankers, which has a proven track record of financing businesses in the natural gas and oil industry, to lead the financing efforts for our expansion strategy. We believe that I-Bankers enables us the best opportunity to finance our planned acquisition of H&M and certain other opportunities we are currently considering. We anticipate this partnership will enable us to close the initial stages of our plan to acquire and consolidate oil and natural gas service and support businesses during the current year. Ultimately, we expect to provide natural gas and oil companies solutions highly adapted to different operating conditions and problems so as to maximize extraction and production from various petroleum based fuel sources."
For more information on I-Bankers Securities, Inc., please contact James Bell at (212) 713-0660 or go to: www.ibsgroup.net
About GeoBio Energy:
GeoBio Energy's business model emphasizes the acquisition and operation of existing companies in the oil and gas services and energy industry. As oil well and gas exploration continues in the face of ever rising demand, identifying new gas production sites and obtaining peak efficiency and production from existing, aging wells becomes increasingly important. GeoBio believes these issues to be the principal challenges and opportunity in its strategy to combine and consolidate companies in the oil and natural gas services sector. Additionally, the company is working to develop more efficient and alternative methods for handling existing resources in this sector in order to realize greater efficiencies and provide efficient, green technology services, where and when available.
About I-Bankers Securities, Inc.
I-Bankers Securities, Inc. is a boutique investment bank that has led or co-managed over 65 transactions, including approximately $3.5 billion of equity offerings. Founded in 1996, the firm has offices in New York, London, Amsterdam, Milan, Como, Lugano, Melbourne, Ft. Lauderdale, and Santa Monica.
I-Bankers Securities has extensive institutional placement capabilities, particularly internationally. The firm's offerings are placed with institutions in Europe, Asia, and the United States.
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The contents of this Press Release may contain forward-looking statements which can be generally identified as such because the context of the statement will include the words such as GBOE "expects," "should," "believes," "anticipates" or words of similar import. Such forward-looking statements are subject to certain risks and uncertainties including the financial performance of GBOE, which could cause actual results, performance or achievements of GBOE to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements.
This Press Release does not constitute or form any part of any offer or invitation to sell or issue or any solicitation of any offer to purchase or subscribe for any securities in any jurisdiction, nor shall it (or any part of it) or the fact of its distribution form the basis of, or be relied upon in connection with, or act as any inducement to enter into, any contract or commitment therefore.
"Forward-looking statements," as defined in the Private Securities Litigation Reform Act of 1995, may be included in this press release. These statements relate to future events and/or our future financial performance. These statements are only predictions and may differ materially from actual future events or results. GeoBio disclaims any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. Please refer to the documents filed by GeoBio with the Securities and Exchange Commission, which identify important risk factors that could cause actual results to differ from those contained in forward-looking statements, including, but not limited to risks associated with our ability to (i) increase revenues, (ii) obtain profitability, (iii) obtain additional financing, (iv) manage changes in general economic and business conditions (including in the asset management and asset tracking industries), (v) react to actions of our competitors, (vi) develop new services and markets for our services, (vii) properly quantify the time and expense involved in such development activities, (viii) identify and manage risks in connection with acquisitions (ix) evaluate the level of demand and market acceptance of our services and (x) make necessary changes to our business strategies.