DES MOINES, IA -- (Marketwire) -- 07/19/10 -- 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 definitive purchase agreement is expected to be negotiated within the exclusivity period, which extends now through the middle of August 2010, with a closing to be held approximately 30 days after the execution of the definitive agreement. ALL Fuels continues its due diligence efforts.
'This is an extremely exciting opportunity, one that we are completely dedicated to completing,' 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, and we look forward to a successful conclusion to this transaction.'
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