New Generation Biofuels' Common Stock Approved for Listing on NASDAQ Capital Market
September 12 2008 - 4:15PM
PR Newswire (US)
Stock will be listed as NGBF upon switch to NASDAQ LAKE MARY, Fla.,
Sept. 12 /PRNewswire-FirstCall/ -- Renewable fuels provider, New
Generation Biofuels Holdings, Inc. (AMEX:GNB), today announced that
it has received approval to list its common stock on the NASDAQ
Capital Market under the symbol "NGBF." New Generation has notified
the American Stock Exchange (AMEX) of its intention to list on the
NASDAQ Capital Market and to delist its common stock from the AMEX.
Trading on the NASDAQ Capital Market is expected to commence on or
around September 23, 2008. New Generation's common stock will
continue to trade on the American Stock Exchange under the old
symbol, GNB, until such date. "We believe that NASDAQ's electronic
multiple market maker structure will provide us with enhanced
visibility, liquidity and greater exposure to institutional
investors, while at the same time providing investors with the best
prices, the fastest execution and the lowest cost per trade," said
David A. Gillespie, New Generation's President and CEO. Established
in 2006, New Generation Biofuels produces a renewable energy
product that is different from traditional biofuels. Their
second-generation biofuel is produced using a simple proprietary
blending process that combines water, proprietary additives and
vegetable oil or other feedstocks. This process is simpler,
cleaner, less expensive and less energy intensive than traditional
production methods and results in a biofuel that has superior
technical and environmental performance at a lower cost than other
first generation biofuels. About New Generation Biofuels Holdings,
Inc. New Generation Biofuels is a development stage renewable fuels
provider. We hold an exclusive license for North America, Central
America and the Caribbean to commercialize proprietary technology
to manufacture alternative biofuels from vegetable oils and animal
fats that we market as a new class of biofuel for power generation,
heavy equipment, marine and heating fuel. We believe our
proprietary biofuel can provide a lower cost, renewable alternative
energy source with significantly lower emissions than traditional
fuels. Our business model calls for establishing direct sales from
manufacturing plants that we may purchase or build and sublicensing
our technology to qualified licensees. About NASDAQ NASDAQ(R) is
the largest U.S. electronic stock market. With approximately 3,200
companies, it lists more companies and, on average, its systems
trade more shares per day than any other U.S. market. NASDAQ is
home to companies that are leaders across all areas of business
including technology, retail, communications, financial services,
transportation, media and biotechnology. NASDAQ is the primary
market for trading NASDAQ-listed stocks. For more information on
NASDAQ, visit the NASDAQ Web site at http://www.nasdaq.com/ or the
NASDAQ Newsroom(SM) http://www.nasdaq.com/newsroom. Forward Looking
Statements This news release contains forward-looking statements.
These forward-looking statements concern our operations, prospects,
plans, economic performance and financial condition and are based
largely on our current beliefs and expectations. These statements
involve known and unknown risks, uncertainties and other factors
that may cause actual results to be materially different from any
future results expressed or implied by such forward-looking
statements. The risks and uncertainties related to our business
include all the risks attendant a development stage business in the
volatile energy industry, including, without limitation, the risks
set forth under the caption "Risk Factors" in our Annual Report on
Form 10-K for the fiscal year ended December 31, 2007 and our
Quarterly Report on Form 10-Q for the quarter ended June 30, 2008.
Contact: Cary J. Claiborne, Chief Financial Officer New Generation
Biofuels, Inc. 443-535-8660 Rob Schatz Wolfe Axelrod Weinberger
Associates, LLC 212-370-4500 DATASOURCE: New Generation Biofuels
Holdings, Inc. CONTACT: Cary J. Claiborne, Chief Financial Officer,
New Generation Biofuels, Inc., +1-443-535-8660; Rob Schatz, Wolfe
Axelrod Weinberger Associates, LLC, +1-212-370-4500, for New
Generation Biofuels Holdings, Inc. Web site: http://www.nasdaq.com/
http://www.nasdaq.com/newsroom
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