SEATTLE, April 28, 2010 (GLOBE NEWSWIRE) -- GeoBio Energy, Inc. (Pink Sheets:GBOE) ("GeoBio"), today announced that it has engaged Harvard Group International (www.harvardgroupintl.com) to conduct its executive recruitment and hiring program in connection with its proposed acquisitions of two companies in the natural gas and oil services industry. GeoBio and Harvard Group International are currently in discussions with several potential candidates for the positions of Chief Executive Officer, Chief Operating Officer and Senior Vice President, Corporate Development & Finance.
It is expected that the prospective candidates will lead GeoBio's efforts to raise the capital required to complete the business acquisitions, along with GeoBio's investment bankers, I-Bankers Securities, Inc. The proposed acquisitions include (i) a previously announced civil construction company located in the Piceance Creek Basin of Colorado (the "Colorado Acquisition") and (ii) a chemical blending and production enhancement company, H&M Precision Products, Inc. ("H&M"), based in Farmington, New Mexico. GeoBio's prospective candidates for the executive management positions include individuals with extensive experience in the natural gas and oil services industry and corporate finance. Once GeoBio completes the proposed acquisitions, the prospective executive management team will be responsible for operations, business development and integration, and expansion of GeoBio.
L.G. Miyatovich, currently the CEO of GeoBio, summarized, "We are pleased to be working with Harvard Group International in assembling an executive management team that will be specifically tailored to both facilitate GeoBio's capital financing and lead GeoBio's expansion into additional opportunities in the natural gas and oil services industry. We are excited by the current candidates and expect that the proposed management team will be able to have an immediate, positive effect on our transaction execution and financing opportunities."
GeoBio and its investment bankers, I-Bankers Securities,Inc., (www.i-bankers.net), are currently working to secure financing of up to $20 million to complete the acquisitions of the Colorado Acquisition and H&M.
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 continue in the face of ever rising demand, preparing and monitoring drilling sites and obtaining peak efficiency and production from existing, aging wells becomes increasingly important. GeoBio believes this to be a principal challenge and an opportunity in its strategy to combine and consolidate companies in the oil and natural gas services sector.
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