Alliance BioEnergy Plus secures $1.5 million investment

March 22, 2016 |

In Florida, Alliance BioEnergy Plus, Inc. announced it has entered into an agreement with United States Regional Economic Development Authority and Carbolosic Energy 1, LLLP (“Energy 1”) for a combined investment of more than $1.5 million in exchange for shares of common stock and warrants in the Company. This agreement, which was disclosed in the Company’s 8K filing earlier in the week, was used to retire the short-term, convertible debt belonging to the Company that had been previously announced.

Under the terms of the agreement, the Company also sold the wholly owned subsidiary Carbolosic Plant 1, LLC to Energy 1 in satisfaction of loans made, totaling $1,250,000, which was effectively responsible for providing the Company with income for the first time since its inception.

Carbolosic Plant 1 will be granted a single plant sub-license to the CTS technology by the Company’s subsidiary AMG Energy Group (“AMG”) under terms and conditions of the master license with the University of Central Florida. And through this sub-license, the Company will receive twenty percent (20%) of the net profits generated by Carbolosic Plant 1, in addition to a three percent (3%) royalty of the gross sales.

Furthermore, the Company will begin dedicating efforts towards streamlining and restructuring each of its subsidiaries as part of its merger plan to bring all of its holdings under one focused corporate umbrella.

Category: Fuels

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