DALLAS, Dec. 28, 2009 (GLOBE NEWSWIRE) -- Evolution Fuels, Inc. (Pink Sheets:EVFN), a company focused on bringing renewable transportation fuels to market, today provided clarification on a previously announced stock dividend.
On December 23, 2009, the Company announced a stock dividend in the form of common stock of Big Star Media Group, Inc. (Pink Sheets:BMGI), a public company of which Evolution Fuels owns common shares.
As previously announced, when the forward stock split becomes effective, shareholders owning at least five (5) shares of Evolution Fuels will receive an additional one (1) share of BMGI common stock for every five (5) shares held of Evolution Fuels common stock.
The stock dividend will be payable to shareholders of record as of December 28, 2009. The shares will be "restricted" as defined under the Securities Act of 1933. Rule 144 allows for the public resale of restricted securities only if certain holding period and other conditions are satisfied. The Company will announce the actual distribution of the dividend stock, which is expected to occur within the next three weeks.
About Evolution Fuels, Inc.
Evolution Fuels, Inc. endeavors to market renewable transportation fuels at retail fuel stations that will provide blends of ethanol from 10% to 85% (E10 to E85), and biodiesel blends from 5% to 20% (B5 to B20). The Company's plan calls for the development of a chain of renewable fuel stations that extend from Texas to Mississippi that will be a combination of "Evolution Fuels"-branded fuel stations/convenience stores and western-motif truck stops modeled after the Willie's Place Truck Stop in Carl's Corner, TX. The Company's web site is www.evolution-fuels.com.
About Big Star Media Group, Inc.
Big Star Media Group, Inc. is a multi-faceted entertainment and information distribution company focused on web-based presentations of live music events, the promotion of new musical talent, film production, and corporate messaging. Big Star Media Group holds several subsidiaries that are each focused on specific aspects of the Company's strategic plan, including: Big Star Live, Big Star Records, Big Star Informative Media, Big Star Films, and Big Star Communications. Its various entities focus on everything from the webcasting of live music events, to promoting new musical talent, producing film, and performing corporate messaging. For more information, please visit: www.bigstarmediagroup.com.
Forward-Looking Statements Disclosure
This press release may contain "forward-looking statements" within the meaning of the federal securities laws. In this context, forward-looking statements may address the Company's expected future business and financial performance, and often contain words such as "anticipates," "believes," "estimates," "expects," "intends," "plans," "seeks," "will," and other terms with similar meaning. These forward-looking statements by their nature address matters that are, to different degrees, uncertain. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can provide no assurances that these assumptions will prove to be correct. In connection with the "safe harbor" provisions of the federal securities laws, including the Private Securities Litigation Reform Act of 1995, important factors that, among others, could cause or result in actual results and experience to differ materially from the Company's anticipated results, projections, or other expectations are disclosed in the Company's filings with the Securities and Exchange Commission. All forward-looking statements in this press release are expressly qualified by such cautionary statements, risks, and uncertainties, and by reference to the underlying assumptions.