LAS VEGAS, NV - January 14, 2014 - Amazonica Corp. (OTCBB: AMZZ) (OTCQB: AMZZ) ("Amazonica" or the "Company") is pleased to announce that on October 24, 2013 the Company closed a $300,000 financing, and on January 3, 2014 it closed a further $25,000 financing with Anton Group Hill Ltd.
The offerings were undertaken by way of unsecured convertible promissory notes convertible into common shares at seventy-five percent of the preceding five day trading average. The notes are convertible by the Holder at any time prior to the two year maturity date. The securities referred to herein will not be or have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration rights.
"I am very pleased with the closing of the financings as they enable the Company to move forward with its ultra pure, low cost hydrogen project," stated Michael Soursos, CEO. "Our team is currently preparing the next stages of development on the project and I expect to have further news out shortly."
Hydrogen is the simplest, most prolific, and lightest element in the universe. Hydrogen is not normally available in a gaseous state in our environment, since it readily combines with oxygen to form water, or with carbon to form fossil fuels such as crude oil, natural gas, or coal. Hydrogen has a number of uses, including in the manufacture of ammonia, but it is its potential as a fuel that is attracting significant interest and investment. It has been possible to construct or convert internal combustion engines to run on hydrogen for some time, but safety and storage concerns prevented any wide scale use. Recent advances in technology, particularly in fuel cells, allied to the environmental concerns from burning fossil fuels, have caused a re-evaluation of hydrogen as a power source.
First discovered by German scientist Christian Friedrich Schönbein in 1838, fuel cells are only now coming to widespread attention, in a large part due to their potential to replace the internal combustion engine in cars and commercial road vehicles. Fuel cells chemically convert hydrogen to electricity to provide power, emitting only water vapor as a waste product in the process.
All major car manufacturers have, or are planning, hydrogen fuel cell powered vehicles, and there are already hundreds of hydrogen fuel cell powered buses on the streets of the world's major cities. Fuel cell powered vehicles are more energy efficient than internal combustion powered vehicles, can be refueled in a matter of minutes and can travel for hundreds of miles between refueling. In addition to road vehicles, hydrogen fuel cells are also being investigated for their potential in airplanes, submarines and boats, smartphones and other electronics, food preservation and emergency power systems.
The most common methods of producing hydrogen at the moment are by stripping the carbon atoms out of compressed natural gas using steam (known as "cracking") or the electrolysis of water. Both these processes are expensive, energy intensive and in the case of cracking, produces waste carbon. Commercial production of clean, cheap hydrogen is therefore a key requirement for large scale fuel cell usage.
About Amazonica Corp.
Amazonica Corp. (dba Euro-American Hydrogen Corp.) is a technology development company that is quoted on the Over-the-Counter Bulletin Board (OTCBB) where the Company's ticker symbol is AMZZ. Amazonica Corp. is developing a breakthrough, low cost technology to make 99.999% pure hydrogen.
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements." Statements in this press release that are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the Company's ability to develop its low cost ultra pure hydrogen production technology. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with developing new products and operating as a development stage company, our ability to raise the additional funding we will need to continue to pursue our business and product development plans, competition in the industry in which we operate and market conditions. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements, except as required by applicable law, including the securities laws of the United States. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in the reports and other documents we file with the SEC, available at www.sec.gov.
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SOURCE: Amazonica Corp.