SOURCE: Netspace International Holdings, Inc.

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May 18, 2010 09:00 ET

Netspace Subsidiary Alternative Fuels Americas Signs Letter of Intent to Acquire Brazilian Based Integrated Biodiesel Industries

NORTH MIAMI, FL--(Marketwire - May 18, 2010) -  Netspace International Holdings, Inc. (PINKSHEETS: NSIH) announced today that its wholly owned subsidiary, Alternative Fuels Americas, has signed a Letter of Intent to acquire Integrated Biodiesel Industries of Sao Paulo, Brazil.

Alternative Fuels Americas (AFA) is a biodiesel consolidation company seeking to acquire companies at every phase of the biodiesel cycle, instituting operational efficiencies and reducing the cost of the biodiesel.

Integrated Biodiesel Industries (IBI) has made significant advances in recent years in feedstock development in Brazil and Argentina, and has exclusive world rights to a proprietary modular refining technology.

"This LOI marks the beginning of the implementation of our carefully crafted business plan," comments AFA CEO Craig Frank. "We are excited by the brain trust, experience and technology that IBI and its team bring to the table. We are looking forward to combining talents and resources to the benefit of shareholders of both companies."

"We are excited by the possibilities presented by the AFA acquisition," says Marcelo Lopez, IBI CEO, "and we see the two companies as sharing an industry vision and ideas on strategies for realization. We believe that AFA is the right company for our shareholders going forward."

AFA and IBI have initiated a process of due diligence and will be holding meetings to complete the acquisition over the next 90 days.

About Alternative Fuels Americas

Founded by The Tudog Group, Alternative Fuels Americas (AFA) is a biodiesel consolidation company seeking to acquire companies at every phase of the biodiesel cycle, instituting operational efficiencies and reducing the cost of the biodiesel. For more information, visit http://www.alternativefuelsamericas.com

About Integrated Biodiesel Industries

IBI is an initiative of merchant banking firm CapitalCorp Finance, Ltd who created a distinctive approach to making and marketing biodiesel with an integrated view of the complete feedstock value chain. In 2005, CapitalCorp started focusing its investment activities in renewable energy and biodiesel. In 2006, several investment opportunities surfaced and the concept of an integrated biodiesel company with focus on downstream (production, marketing, transportation) operations became clear. In early 2007, CapitalCorp was joined by seasoned chemical industry professionals to form Integrated Biodiesel Industries, Ltd to add operations background to an exciting and innovative approach to working with biodiesel. For more information visit http://www.biodieselindustries.net

This press release includes statements that may constitute "forward-looking" statements, usually containing the words "believe," "estimate," "project," "expect" or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, acceptance of the Company's current and future products and services in the marketplace, the ability of the Company to develop effective new products and receive regulatory approvals of such products, competitive factors, dependence upon third-party vendors, and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.

Contact Information

  • Contact:
    Isaac Sigal
    305-775-8935