Dynamic Energy Alliance Corporation's Development Subsidiary Secures
First Refusal Rights and Option to Purchase a 10-Acre Site Near
Dallas for Green Energy Campus
MEMPHIS, TN -- (Marketwire) -- 10/02/12 -- In support of its plan to
build its first Pyrol Black Energy Campus near Dallas, Dynamic Energy
Alliance Corporation (OTCQB: DEAC), today announced that that its
wholly owned development subsidiary, Dynamic Energy Development Corp.
(DEDC), has entered into an option agreement for the right of first
refusal and option to purchase a 10-acre site containing substantial
tire feedstock and an existing 2,000-ton per year tire recycling
business, located in Ennis, Texas.
The property, which contains structures aggregating 32,000 sq. ft.,
is permitted by the Texas Commission on Environmental Quality as a
scrap tire collection and processing operation. The location is in
close proximity to strategic infrastructure and logistics resources
that would enhance the Company's ability to collect and distribute
raw and finished materials.
The site was originally optioned by DEDC in March 2012. In June 2012,
DEDC assigned its option rights to IWSI PS Plan, an entity affiliated
with DEAC's Chairman Charles R. Cronin, Jr. IWSI subsequently
exercised the option and acquired the facility on June 4, 2012.
Mr. Cronin stated: "We've arrived at a fair and equitable way to
safeguard this important property for the Company's use as we pursue
our goal of developing a state-of-the-art energy campus. DEAC's
energy campus will combine proven tire pyrolysis processes and other
proprietary technologies to optimize outputs of high value organic
compounds, synthetic oils, and carbon black; thus executing our
vision to convert abandoned tires into recoverable products."
DEAC's purchase option extends through June 2014, with one renewal.
The option provides for an exercise price of $1,032,500 (the original
price paid by IWSI), plus other considerations that include facility
usage fees of $10,000 per month (which accrues until a closing), and
quarterly option payments equal to $15,000 per quarter (to be
credited against the purchase price if option is exercised) to keep
the option current, along with other consideration adjustments to be
determined at closing.
l information is provided in the Company's current report on
Form 8-K with Securities and Exchange Commission on October 2, 2012.
The description of the terms of the option is qualified in its
entirety by reference to the Option Agreement, which is attached as
an Exhibit to the Company's Form 8-K filing.
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.
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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
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as "may," "should," "plan," "intend," "potential," "continue,"
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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
Dynamic Energy Alliance Corporation
(901) 414-0003, extension 2006
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