DALLAS, May 18, 2009 (GLOBE NEWSWIRE) -- Evolution Fuels, Inc. (Pink Sheets:EBOF) (the "Company") today announced that its Board of Directors has declared a stock dividend to stockholders of record as of June 1, 2009. All shareholders on record as of June 1, 2009 will be issued one (1) additional share of common stock for every common share held.
The Company plans to have the aforementioned stock dividend paid and become effective on June 3, 2009. The payment of the dividend will not require an increase in the total number of authorized shares of common stock nor is there a need for an exchange of certificates. Evolution Fuels trading symbol will change within the next two weeks pursuant to its recently announced name change. The Company will make an announcement when a new ticker is assigned and becomes effective.
Evolution Fuels' CEO, Dennis McLaughlin, stated, "We have elected to implement the described stock dividend to reward our shareholders who have supported the Company through the recent changes in the renewable fuels industry and the Company's business focus. As stated before, the Company's mission is to help the United States achieve energy independence through the creation of downstream renewable fuels retail outlets."
About Evolution Fuels, Inc.
The Company endeavors to develop retail renewable fuel stations and truck stops modeled after the Willie's Place Truck Stop in Carl's Corner, TX, and to supply biodiesel to these retail locations from its biodiesel production facility located in Durant, Oklahoma. The Company's Web site is www.evolution-fuels.com.
Forward-Looking Statements Disclosure
This press release may contain "forward-looking statements" within the meaning of the federal securities laws. In this context, forward-looking statements may address the Company's expected future business and financial performance, and often contain words such as "anticipates," "believes," "estimates," "expects," "intends," "plans," "seeks," "will," and other terms with similar meaning. These forward-looking statements by their nature address matters that are, to different degrees, uncertain. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can provide no assurances that these assumptions will prove to be correct. In connection with the "safe harbor" provisions of the federal securities laws, including the Private Securities Litigation Reform Act of 1995, important factors that, among others, could cause or result in actual results and experience to differ materially from the Company's anticipated results, projections, or other expectations are disclosed in the Company's filings with the Securities and Exchange Commission. All forward-looking statements in this press release are expressly qualified by such cautionary statements, risks, and uncertainties, and by reference to the underlying assumptions.