Blue Earth Resources, Inc. Provides Shareholder Update
KNOXVILLE, TN, Dec. 05, 2022 (GLOBE NEWSWIRE) -- via – Blue Earth Resources, Inc. (“BERI”) and its wholly owned subsidiaries, Fuel Trader Supply (“FTS”) and Fuel Trader Resource Management, recently held a post-acquisition conference in Clearwater, Florida. The objective of the conference was to bring together key personnel from all companies and collaborate on the integration of operations, sales, and finance during a weeklong workshop.
The synergies between the companies were obvious during the conference as the various teams worked through integrations seamlessly. “I am encouraged by the way our team is working together solving the integration, which is never an easy task,” said Will Eaton, COO. Mr. Eaton further stated, “We anticipate an immediate increase in the enterprise value of the combined entities as we integrate FTS’s scale and supply chain expertise with BERI’s knowledge of the retail segment.”
In addition to working through the integrations, BERI and FTS renewed, extended and increased its existing credit facilities to 2024. The renewals and extensions will continue to provide the credit needed for BERI and FTS’s primary operations in the Southeast.
Also, BERI recently signed a letter of intent to become a joint venture partner in an exclusive hydrogen distribution agreement that will position the Company to be a participant in the coming green energy focused economy. We believe that hydrogen will eventually play a pivotal role in alternative “clean” energy solutions.
As we focus on successfully integrating our operations and raising lower cost capital to finance and expand both our wholesale and retail businesses, we plan to raise additional capital through a $25 million preferred stock offering. Scott M. Boruff, CEO stated, “We are laser focused on the integrations and increasing margins throughout the enterprise. . The funds raised from the preferred stock offering will provide the capital needed to accomplish our short-term goals and execute on our longer term strategies.”
About Blue Earth Resources, Inc.
Blue Earth Resources, Inc. (OTCMKTS: BERI) procures refined fuels from refineries and wholesalers and distributes it to both large retailers and single site operators. Our solution represents lower risk and more stable pricing to our vendors and customers. In addition, our custom branding services include imaging, design and consultation services to assist with custom branding. BERI is headquartered in Knoxville, Tennessee. More information on BERI can be found at .
Statements Regarding Forward-Looking Information
Certain statements contained herein are forward-looking statements including, but not limited to, statements that are predictions of or indicate future events, trends, plans, or objectives. Undue reliance should not be placed on such statements because, by their nature, they are subject to known and unknown risks and uncertainties. Forward-looking statements are not a guarantee of future activities and are subject to many risks and uncertainties. Due to such risks and uncertainties, actual events may differ materially from those reflected or contemplated in such forward-looking statements. Forward-looking statements can be identified by the use of the future tense or other forward-looking words such as "believe," "expect," "anticipate," "intend," "plan," "should," "may," "will," "continue," "strategy," "position," "opportunity," statements regarding the "flexibility" of the Company or the negative of any of those terms or other variations of them or by comparable terminology.
Contact
Scott M. Boruff, CEO
(865) 237-4448
