WEST PALM BEACH, Fla., March 22, 2016 (GLOBE NEWSWIRE) -- Alliance BioEnergy Plus, Inc. (OTCQB:ALLM) (the "Company"), is pleased to announce that it has entered into an agreement with United States Regional Economic Development Authority (“USREDA”) and Carbolosic Energy 1, LLLP (“Energy 1”) for a combined investment of more than $1.5 million in exchange for shares of common stock and warrants in the Company. This agreement, which was disclosed in the Company’s 8K filing earlier in the week, was used to retire the short-term, convertible debt belonging to the Company that had been previously announced.
Under the terms of the agreement, the Company also sold the wholly owned subsidiary Carbolosic Plant 1, LLC to Energy 1 in satisfaction of loans made, totaling $1,250,000, which was effectively responsible for providing the Company with income for the first time since its inception.
Carbolosic Plant 1 will be granted a single plant sub-license to the CTS technology by the Company’s subsidiary AMG Energy Group (“AMG”) under terms and conditions of the master license with the University of Central Florida. And through this sub-license, the Company will receive twenty percent (20%) of the net profits generated by Carbolosic Plant 1, in addition to a three percent (3%) royalty of the gross sales.
Furthermore, the Company will begin dedicating efforts towards streamlining and restructuring each of its subsidiaries as part of its merger plan to bring all of its holdings under one focused corporate umbrella.
When asked about this merger plan, CEO Daniel de Liege commented with the following:
“This move is inline with our commitment to commercializing the CTS technology and focusing our efforts on fast tracking the bolt-on solution for existing corn ethanol facilities.”
In the coming weeks, the Company will look to share additional details and information as it relates to the process of commercializing the CTS technology.
Alliance BioEnergy +, Inc. (“ALLM”) (OTCQB:ALLM), is a publicly traded company focusing on “Green” energy and renewable technologies. ALLM’s subsidiaries focus on emerging technologies in the renewable energy, bio-fuels and new technologies sectors. ALLM owns a fifty percent interest in Carbolosic, LLC, and the exclusive rights to North America (including Canada, U.S. and Mexico) and Africa. Carbolosic holds the exclusive, worldwide license to the patented mechanical/chemical technology, “CTS™” developed by the University of Central Florida. The CTS Cellulose Ethanol technology is able to produce a high quality clean burning Ethanol from virtually any plant material cheaper, quicker and without any hazardous inputs.
About United States Regional Economic Development Authority:
United States Regional Economic Development Authority (USREDA) is a leading global processor of investment-based immigration, and offers diversified investment opportunities for a diversified world.
The Company is built upon maintaining the highest ethical standards, and is committed to serving our clients by helping them to realize their financial and immigration goals. This starts and ends with understanding each individual client, their objectives, and how to harness the unique opportunities that will allow them to achieve those objectives.
USREDA maintains a global team of business experts, international attorneys, immigration specialists and support staff, equipped to provide valuable consulting services to meet our clients' needs. If you’re looking for a trusted partner in EB-5 consulting, project management, or wealth accumulation, allow USREDA to put its experience to work for you today.
USREDA is uniquely positioned to help you build wealth without borders. With corporate offices in Palm Beach and New York and regional offices in Hong Kong, and Shanghai, USREDA is uniquely positioned to partner with you no matter where you reside. Visit www.USREDA.com or contact us today for more information.
Information in this document constitute forward-looking statements or statements which may be deemed or construed to be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words "forecast", "anticipate", "estimate", "project", "intend", "expect", "should", "believe", and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve, and are subject to known and unknown risks, uncertainties and other factors which could cause Alliance BioEnergy Plus, Inc. actual results, performance (financial or operating) or achievements to differ from the future results, performance (financial or operating) or achievements expressed or implied by such forward-looking statements. The risks, uncertainties and other factors are more fully discussed in Alliance Media Group Holdings, Inc’s filings with the U.S. Securities and Exchange Commission. All forward-looking statements attributable to Alliance BioEnergy Plus, Inc herein are expressly qualified in their entirety by the above-mentioned cautionary statement. Alliance BioEnergy Plus, Inc. disclaims any obligation to update forward-looking statements contained in this estimate, except as may be required by law.
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Source:Alliance BioEnergy Plus, Inc.