DES MOINES, IA -- (Marketwire) -- 08/19/10 -- ALL Fuels & Energy (OTCBB: AFSE) today announced that it has secured a thirty-day extension under its existing letter of intent to acquire an operating ethanol plant located in the Midwest United States. The company indicated that the exclusivity period now extends through the middle of September 2010.
'We're continuing to make progress on this exciting opportunity,' said Dean Sukowatey, CEO and President of ALL Fuels. 'Our valuable industry partners who are important in our finalizing the necessary financing continue to support us. We look forward to a successful conclusion to this transaction.'
The company indicated that, after executing the definitive purchase agreement, it is expected that a closing would be held within approximately 30 days. ALL Fuels and its industry partners continue their due diligence efforts.
About ALL Fuels & Energy Company
Visit the company online at: www.allfuelsandenergy.com. ALL Fuels & Energy Company is a development-stage ethanol company organized to operate as an ethanol producer, focusing primarily on the production and sale of alternative fuels, including ethanol and its co-products, cost saving efficiencies to the biofuels industry, and improved channels to market.
Safe Harbor Statement
This press release contains statements that may constitute forward-looking statements, including the company's ability to successfully acquire one or more ethanol production facilities. These statements are based on current expectations and assumptions and involve a number of uncertainties and risks that could cause actual results to differ materially from those currently expected. For additional information about ALL Fuels & Energy's future business and financial results, refer to ALL Fuels & Energy's Annual Report on Form 10-K for the year ended December 31, 2009. ALL Fuels & Energy undertakes no obligation to update any forward-looking statements that may be made from time to time by or on behalf of the company, whether as a result of new information, future events or otherwise.
ALL Fuels & Energy Company
6165 N.W. 86 St.
Johnston, Iowa 50131
Phone: 515 331 6509