Russell Industries Closes $1M Private Financing
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Mon, 09 Nov 2009 18:09:27 GMT |
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Russell Industries, Inc.
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HOUSTON - (Business Wire) Russell Industries, Inc. (Pink Sheets: RIND) announced today it has closed a $1 million private financing of One Year Convertible Promissory Notes. The Company intends to use the proceeds to fund RIND’s Proof of Concept Pilot to Scale Algae Biomass project and for working capital. About Russell Industries Russell Industries is a developing alternative and renewable energy company. The Company is the majority owner of 255 unpatented Uranium mining claims in San Juan County in Southern Utah. The Company is also pursuing development of a commercial scale algae biomass production facility through its wholly owned subsidiary, Algae Farm, LLC. The Company’s websites are www.algaefarm.org and www.ru308.com, the contents of which are not incorporated by reference herein. Safe Harbor This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and as such, may involve risks and uncertainties. Forward-looking statements, which are based on certain assumptions and describe future plans, strategies, and expectations, are generally identifiable by the use of words such as "believe," "expect," "intend," "anticipate," "estimate," "project," or similar expressions. These forward-looking statements relate to, among other things, expectations of the business environment in which the Company operates, projections of future performance, potential future performance, perceived opportunities in the market, and statements regarding the Company's mission and vision. The Company and all affiliated parties do not assume any duty to publicly update or revise the material contained herein.
Russell Industries, Inc.
Rick Berman, 832-631-6074
irrsds@aol.com
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