Frank Crivello, Managing Member, Crivello Group, LLC Announces Equity Investment in ReFuel America, Inc.
ReFuel America to complete merger with public company and additional equity financing.
Pompano Beach, FL (PRWEB) June 28, 2005 -- Frank Crivello, Managing Member,
Crivello Group, LLC (“CG”) and NNN Group, Inc., www.nnn.net, announced today that their principals made equity
investments in ReFuel America, Inc., a Delaware corporation, the successor to
ICF Industries and Advanced Fuel Chemistry, Inc. (“AFC”).
Earlier this
year Frank Crivello announced CG provided ICF Industries, a UK-based company, a
Delaware corporation, ReFuel America, Inc., and their management including Ian
Williamson and Cliff Hazel (collectively "ReFuel America") with consulting
services relating to, among other matters, the strategic acquisition of Ray
Thomas Petroleum Company, a prospective merger with a public company and
financing for the combined entities.
On May 31, 2005 Frank Crivello
announced that CG terminated all relations and agreements with AFC, Ray Thomas
Petroleum Company, and their affiliates due to material disagreements with AFC
and their management relating to the acquisition of Ray Thomas Petroleum
Company. On June 10, 2005, ReFuel America terminated all its agreements and
relations with Ray Thomas Petroleum Company and renewed its relationship with
CG.
ReFuel America fuel additives are proprietary and complex. When
blended into distillates or gasoline, these additives positively alter the
molecular composition of the fuel. This results in a finished fuel that
increases miles per gallon and fuel lubricity, while reducing harmful emissions
including Carbon Dioxide, Nitrous Oxide, black smoke, and particulates. ReFuel
America’s technology improves on previous technology commercialized.
CG
Managing Member Frank P. Crivello stated: “Cliff Hazel and Ian Williamson are
inventors with a long and rich tradition of creating commercially viable energy
technologies. With the recent changes in Refuel America’s strategic direction,
we share management’s vision for its future. As for ReFuel America’s strategic
objectives, we are negotiating with a public company to complete a merger of
ReFuel America into it.”
About NNN Group, Inc., www.nnn.net: NNN provides ReFuel
America with real estate advisory services.
About Crivello Group, LLC www.crivello.com: CG is a
strategic advisors and partners to emerging and distressed companies. CG’s
solutions for emerging or distressed companies that include:
-
Stabilization
- Capital & Debt Alternatives
- Staff, Boards, and
Professionals
- Divestiture & Dissolution
- Plan of Restructuring or
Reorganization
Safe Harbor Statement Under the Private Securities
Litigation Act of 1995 - With the exception of historical information, the
matters discussed in this press release are forward-looking statements that
involve a number of risks and uncertainties. The actual future results of CG
could differ significantly from those statements. Factors that could cause
actual results to differ materially include risks and uncertainties such as the
inability to finance the company’s operations or expansion, inability to hire
and retain qualified personnel, changes in the general economic climate,
including rising interest rate and unanticipated events such as terrorist
activities. In some cases, you can identify forward-looking statements by
terminology such as "may," "will," "should," "expect," "plan," "anticipate,"
"believe," "estimate," "predict," "potential" or "continue," the negative of
such terms, or other comparable terminology. These statements are only
predictions. Although we believe that the expectations reflected in the
forward-looking statements are reasonable, such statements should not be
regarded as a representation by the Company, or any other person, that such
forward-looking statements will be achieved. We undertake no duty to update any
of the forward-looking statements, whether as a result of new information,
future events or otherwise. In light of the foregoing, readers are cautioned not
to place undue reliance on such forward-looking statements. For further risk
factors see the risk factors associated with our Company, review our SEC
filings.
Contact:
New-School Communications, LLC
Blois Olson,
651-221-1999
www.new-school.com
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Source : http://www.prweb.com/releases/2005/6/prweb256025.htm