LOS ANGELES, CA, (NAMC) – The alternative fuel company Lewisville, Texas based Consolidated Biofuels, Inc. (Pink Sheets:CSBF) has raised additional capital through at private placement that entailed the issuance of additional common stock.

The company raised $220,000 and Consolidated issued 547,500 shares of common stock at 40 cents per share, and they also issued 191,625 warrants with a conversion price of 60 cents per common share.

The purpose of the capital raise is to provide the company with funds for operational expenses and is a prelude to a larger capital raise that is underway according to the company. This would allow the company to construct and operate its planned biodiesel facilities.

Consolidated closed at 70 cents on Wednesday.

Michael Rossi
Business News Correspondent
NAMC Newswire
www.namcnewswire.com

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