MEMPHIS, Tenn., Aug. 1, 2012 (GLOBE NEWSWIRE) -- Dynamic Energy Alliance Corporation (OTCQB:DEAC) announced today that its Chairman, Charles R. Cronin, Jr., has arranged for, and completed the purchase, through one of his affiliates, of a 10-acre property in Ennis, Texas, after the Company's option to acquire the property expired. The Company intends to use the Ennis property as a site for its first fully-operational Green Energy Campus.
Dynamic Energy Alliance considers the property near Dallas ideal for building its first Green Energy Campus, since it contains two existing buildings to house the Company's pyrolysis-based equipment and operations, and is located in an area with abundant tire feedstock and strategic infrastructure and logistics resources. In addition, the Company sees further value from the business and operations of C.C. Crawford Retreading Co., Inc., a collector and recycler of approximately four million pounds of waste tires annually, also acquired in the purchase. The property is permitted by the Texas Commission on Environmental Quality (TCEQ) as a scrap tire collection and processing operation.
Dynamic Energy Alliance's management is optimistic that the Company will be able to negotiate a new option with Mr. Cronin's affiliate for the purchase of the property, although the price and terms for such option are uncertain at this date, and no option is currently in place. Also, there's no assurance that the Company will be able to secure the capital required to exercise on such option, in the event an option is successfully negotiated.
About Dynamic Energy Alliance Corporation
Dynamic Energy Alliance Corporation (DEAC), www.dynamicenergyalliance.com, is a development stage energy and recycling company focused on identifying, combining and enhancing existing technologies with proprietary recoverable production and finishing processes to produce synthetic oil, carbon black, gas, and carbon steel from waste feedstock. This process is expected to be accomplished with limited residual waste product and significant reductions in greenhouse gases compared to traditional processing. To maximize this opportunity, the Company has developed a scalable, commercial development strategy to build "Energy Campuses" with low operational costs and long-term, recurring revenues. The Company has not yet built its first Energy Campus.
Receive your DEAC news faster and directly from the Company. Sign up for our express mail list at DEAC Email Alerts.
Forward-Looking Safe Harbor Statement:
This press release contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. By their nature, forward-looking statements and forecasts involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the near future. Forward-looking statements speak only as of the date they are made, are based on various underlying assumptions and current expectations about the future. We caution readers that any forward-looking statements are not guarantees of future performance and that actual results could differ materially from those contained or implied in the forward-looking statements. Such forward-looking statements include, but are not limited to, statements about the transactions described herein, future financial and operating results, the combined company's plans, objectives, expectations and intentions and other statements that are not historical facts. In some cases, you may identify forward-looking statements by words such as "may," "should," "plan," "intend," "potential," "continue," "believe," "expect," "predict," "anticipate" and "estimate," the negative of these words or other comparable words. These statements are only predictions. One should not place undue reliance on these forward-looking statements. The forward-looking statements are qualified by their terms and/or important factors, many of which are outside the Company's control, involve a number of risks, uncertainties and other factors that could cause actual results and events to differ materially from the statements made. The forward-looking statements are based on the Management's beliefs, assumptions and expectations about the Company's future performance and the future performance of its subsidiaries, taking into account information currently available to the Company. These beliefs, assumptions and expectations can change as a result of many possible events or factors not all of which are known to the Company. The Company will update this forward-looking information only to the extent required under applicable securities laws. Neither the Company nor any other person assumes responsibility for the accuracy or completeness of these forward-looking statements.
For a discussion of these risks and uncertainties, please see our filings with the Securities and Exchange Commission. Our public filings with the Commission are available from commercial document retrieval services and at the website maintained by the Commission at www.sec.gov.