SHERIDAN, WY, November 6, 2014 — Next Fuel, Inc. (OTCQB: NXFI) (the “Company”), a technology provider and service company that offers services to the oil and gas industry announced today it has completed a funding for One Million Dollars ($1,000,000.00) via the sale of unregistered equity securities. The 1,800,000 shares of common stock were sold to two unaffiliated individuals from the People’s Republic of China and are subject to a Lock-up Agreement.
“Having signed and announced the agreement weeks ago, I am happy to post that through several installments the company has now received the total amount due in this transaction. With this capital infusion Next Fuel completed the purchase of the Integra water filtration technology and associated patents as well as increased the company’s working capital”, stated Robert Craig, Chairman and CEO of Next Fuel, Inc. “We are working diligently to place several of these units in the field to initiate meaningful revenues for the company”, concluded Mr. Craig.
About Next Fuel, Inc.
Next Fuel, Inc. is a technology provider and service company that offers services to the oil and gas industry. The Company is focusing its efforts on water treatment technologies that offer solutions for low cost, high volume commercial remediation.
The Company continues to develop its Low Energy-input Pervaporation Technology for providing the oil and gas industry with a new cost-effective method for treating waste water that contains the most environmentally challenging, high salt, and total dissolved solids used or produced in U. S. oil and gas operations.
In collaboration with leading research institutes, the Company intends to identify, develop or acquire a portfolio of growth opportunities with compelling market potential that are consistent with clean energy and environmental stewardship. Current projects for longer term commercialization include processes for carbon dioxide conversion and carbon loop closure, and biological fuel cells.
This announcement contains forward-looking statements, including statements regarding the timing of future acquisitions and future products and services to be offered by the Company, all of which involve risks and uncertainties. Actual results could differ materially from those discussed. Factors that could cause or contribute to such differences include: the results of due diligence investigations, negotiations between the Company and operators who may utilize the technology, and other factors discussed in the Company’s filings with the Securities and Exchange Commission. All forward-looking statements are based on information available to the Company as of the date of this news release, and the Company assumes no obligation to update such statements.
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Next Fuel, Inc.