Southridge Partners II and BenchMark Energy Corporation Enter Into
a $15 Million Equity Purchase Agreement
RIDGEFIELD, Conn., Nov. 29, 2012 /PRNewswire/ -- Stephen Hicks,
Managing Member of Southridge ("Southridge") and Mark Bateman, CEO of BenchMark Energy
Corporation, are pleased to announce that Southridge Partners II,
an institutional investor, has entered into a Fifteen Million Dollar ($15,000,000) equity purchase agreement with
BenchMark Energy Corporation ("Benchmark" or the "Company"),
whereby Southridge has agreed to purchase up to $15,000,000 of BenchMark Common Stock over the
next two years. (OTC: BMRK).
BenchMark Energy and its subsidiary, Energy Partners LLC, are
expanding the global glycerin market by developing new applications
for refined glycerin. The Company currently originates
glycerin from biodiesel plants located in the U.S. and Canada and manages logistics for its customers
who utilize the glycerin in traditional and emerging markets.
BenchMark intends to use the $15,000,000 to accelerate the growth and
development of the Company and capitalize on the opportunity in the
evolution of the current biofuels market. The Company's
primary focus will be to target the logistical control in the
delivery and distribution in our existing operation on the
purchase, sales, and distribution within the glycerin market. This
will include building a new facility and pursuing the acquisition
of an existing plant. The Company has identified
several existing facilities for acquisition in the Midwestern
United States which it will retrofit and update for streamlined
transportation. BenchMark has commenced feasibility research
for locations to build or acquire a refinement facility in
Texas which would provide access
to major ports for international sales.
"We are pleased to commence our transition of BenchMark into the
highly profitable refinement sector of the alternative and biofuels
market," states Mark Bateman, CEO
for BenchMark. Mr. Bateman states further, "We look
forward to working with Mr. Hicks and Southridge as our equity
partner that will provide BenchMark Energy the experience and
knowledge it requires in today's capital markets."
Southridge seeks investments in emerging growth areas,
domestically and in international markets. Southridge has
successfully participated in providing over $1.7 billion in capital to companies in
the United States, Asia, Canada,
the United Kingdom and
Australia amongst others.
About Southridge Advisors
Southridge LLC is a diversified financial holding company
specializing in direct investment and advisory services to small
and middle market issuers. Read on for more about another one of
Southridge Capital's exciting investments.
Media & Investor Relations:
Tari Bateman
Tel: 281-210-0063
Email: benchmark@benchmarkenergy.com
http://www.benchmarkenergy.com
SOURCE BenchMark Energy Corporation