Attis Provides Update on Planned Sunoco Ethanol Plant Acquisition

MILTON, GA, March 08, 2019 (GLOBE NEWSWIRE) --

The Company remains committed to closing the transaction in the near future 

via NEWMEDIAWIRE -- Attis Industries Inc. (NASDAQ: ATIS) (the “Company” or “Attis”), a diversified innovation and technology holding company, today provided an update on the status of its previous announced purchase agreement with Sunoco LP to acquire and operate its corn ethanol plant and grain malting operation in Fulton, NY.  While the acquisition has not been finalized, the transaction is still on track to close upon the satisfaction of customary closing conditions.

As previously reported, the definitive asset purchase agreement calls for a total consideration for the divestiture of $20 million and includes a 10-year offtake agreement with Sunoco for the ethanol produced at the Fulton plant.  Attis is expecting to finance the transaction with non-dilutive secured debt financing. 

The planned acquisition of Sunoco’s Fulton, NY ethanol plant is a key step in the Company’s long term vision of being a leader in the production of low carbon fuels and biobased products.  Attis has plans for numerous improvements over the next 24 months to the Fulton plant with the goal of creating the industry’s premier renewable energy campus. 

“We remain confident the acquisition of the Fulton plant will be the first of many plants we acquire and/or build over the next 24-36 months,” said Jeffrey Cosman, CEO of Attis Industries Inc.  “The Company is continuing to balance the close of the facility as quickly as possible around the end of the quarter with the expectation to secure a larger credit facility which will be used to quickly improve operations in Fulton, build and expand production fuels with our biodiesel and bio-refinery plant in Fulton, as well as begin building our first 3 independent bio-refineries in Georgia, South Carolina and Florida.” 

Attis Industries, Inc. 

Attis Industries Inc. (NASDAQ: ATIS) is a diversified innovation and technology holding company focused on developing and building businesses that play important roles in the new economy.  We strive to encourage our employees to be entrepreneurs focused on innovation and technology.  We will remain dynamic, persistent and motivated to our mission of winning.  The growth of our company will rely on our integrity and our vision for the future. Today, each of Attis’ business sectors provide high growth opportunities that collectively account for more than a third of our nations GDP.   For more information, visit:

Forward-Looking Statements

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