SOURCE: Encore Energy Systems

February 11, 2009 11:37 ET

Encore Energy Systems Completes Acquisition of BioConversions International and Schedules Additional Biofuel Acquisitions

OXFORD, MS--(Marketwire - February 11, 2009) - Encore Energy Systems (PINKSHEETS: ENCS) announced today it completed its acquisition of BioConversions International. The transaction record date is 5 February 2009.

All record-date stockholders and all prior EGVI stockholders will receive, pro rata, $2,000,000 in Convertible Preferred Stock. The Preferred Stock may be converted into Common Stock annually. The Conversion feature will expire in 5 years.

This dividend is in addition to the previously declared cash dividend whereby all royalty income from the Company's patents will be distributed directly to stockholders. Shareholders will receive new Preferred Stock paying yearly dividends of cash or common stock upon redemption.

Investors should expect regular updates and press releases on the following:

--  New web sites, corporate image and published business plans
--  Details regarding geothermal royalty schedule, and the Preferred Stock
--  Published financial reports on the combined entities no later than 1
    March 2009
--  Guidance on 2008 performance and Revenue and Debt elimination to be
    released before financial reports
--  Financial projections regarding both revenues and asset growth through
    the company's planned acquisitions
--  New LOIs and planned acquisitions of various biofuel production
--  Biofuel production and distribution agreements

About Encore Energy and BioConversions

ENCS is an international aggregator bio-diesel reactor technology, fuel distribution, production systems and fuel production facilities.

The Company also owns the patents for the use of grey-water, and domestic water in heat exchanger systems. They also provide all forms of conventional geothermal heat exchange systems. See our video at The Company licenses its patented technology to other energy-related businesses.

Safe-Harbor Statement

This press release contains statements (such as projections regarding future performance) that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties. The company's web-site version of this press release contains various RISK FACTORS (and are incorporated herein by reference) and should be read before any investment decision.

Contact Information

  • Contact:
    Encore Energy Systems, Inc.
    Investor Relations
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