Vega Biofuels Enters Into Agreement to Acquire Biochar Now’s Legal Hemp and Marijuana Divisionadmin
NORCROSS, GA / ACCESSWIRE / April 3, 2014 / VEGA BIOFUELS, INC. (Pink Sheets VGPR) announced today it has entered into an Agreement to acquire the Legal Hemp and Marijuana Division of Colorado based Biochar Now, LLC.
Biochar Now, LLC currently markets its biochar product to growers in various agricultural industries. The legal hemp and marijuana division of the Company has increased significantly with the legalization of medical marijuana in several states and the legalization of recreational marijuana use in Colorado and Washington.
Vega Biochar, a wholly subsidiary of Vega Biofuels, Inc. will continue marketing biochar to the current clients of Biochar Now’s legal hemp and marijuana division and plans to immediately expand its marketing to growers throughout the United States and around the world.
“We welcome the energy and resources that Vega brings to this business,” stated James Gaspard, Co-Founder of Biochar Now, LLC. “This segment of the biochar industry is expanding tremendously now and we look forward to working with Vega as they expand this part of their business. The biochar that will be marketed by Vega has had years of extremely successful results by growers and is now a proven soil amendment in the legal hemp and marijuana industry. It is important to realize that all biochars are not created equal. The results we have experienced with our biochar in greatly increasing our customers’ yields cannot be translated to other manufacturers biochar products. This acquisition puts Vega Biochar far ahead of its competition.”
Biochar is a highly absorbent, specially designed charcoal-type product used as a soil amendment for the agricultural industry. It is made under specific conditions with the intent to be applied to soil as a means to increase soil fertility and agricultural yields.
“We are now in a position to become a very significant player in the biochar business,” stated Michael K. Molen, Chairman/CEO of Vega Biofuels, Inc. “With the resources that we can bring to this business and the quality of the product we are producing, Vega Biochar will be a significant part of our overall business. I’ve been able to spend quite a bit of time with James and have learned a lot about this business and how his product is greatly increasing the yields of his grower clients. Every grower that we have talked to is interested in this product and excited about the results they see in their grows. For now, we will continue to manufacture our biochar product in Colorado.”
Certain statements in this release 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,” “plan,” “project,” “intend,” “expect,” “should,” “would,” and similar expressions and all statements, which are not historical facts, 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 the Company’s actual results, performance (finance or operating) or achievements to differ from future results, performance (financing and operating) or achievements expressed or implied by such forward-looking statements.
SOURCE: Vega Biofuels, Inc.
Posted: April 3rd, 2014 under ACCESSWIRE.