Alcar Chemical Group Inc. (PINKSHEETS: ACMG) announces today that it is continuing talks with US Sustainable Energy Corp. for the acquisition of controlling interest in Alcar Chemicals Group Inc. to proceed towards a US expansion for an estimated USD $280 million, representing approximately $2.00 per share.
According to the company, Alcar Chemicals Group and US Sustainable Energy Corp. have progressed beyond the memorandum of understanding and would sign a letter of intent to outline the terms and condition by which US Sustainable Energy Corp. would acquire the controlling interest of Alcar Chemicals Group Inc. The companies plan to sign a letter of intent on or before February 19, 2007.
"This take-over by US Sustainable Energy Corp. is truly welcome at this phase of our development. It will enable the company to expand its non-food based ethanol technology quickly throughout North-America," said Dr. Cavasin, CEO of Alcar Chemicals Group. "The progress we have made with our technology continues to spark interest in our industry world wide and is quickly becoming the next contender," further added Dr. Cavasin.
About The Alcar Group
The Alcar Chemicals Group (PINKSHEETS: ACMG) represents a significant market opportunity due to a serious worldwide supply shortage of raw materials for polymers as well as an increased requirement for ethanol and biodiesel. ACMG has been concentrating on innovative methods for biomass (forestry waste, agricultural waste and non-food crop) valorization for the past decade, specifically petroleum-independent fuel and plastics resin production. Its proprietary technology represents today's most economical and advanced manufacturing process for plastic raw materials, ethanol and bio-diesel, allowing production at cost savings of up to 40% when compared to current production methods.
Important Information About Forward-Looking Statements
All statements in this news release that are other than statements of historical facts are forward-looking statements, which contain our current expectations about our future results. Forward-looking statements involve numerous risks and uncertainties. We have attempted to identify any forward-looking statements by using words such as "anticipates," "believes," "could," "expects," "intends," "may," "should" and other similar expressions. Although we believe that the expectations reflected in all of our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct.
A number of factors may affect our future results and may cause those results to differ materially from those indicated in any forward-looking statements made by us or on our behalf. Such factors include our limited operating history; our need for significant capital to finance internal growth as well as strategic acquisitions; our ability to attract and retain key employees and strategic partners; our ability to achieve and maintain profitability; fluctuations in the trading price and volume of our stock; competition from other providers of similar products and services; and other unanticipated future events and conditions.
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