ECSL Announces That It’s Subsidiary, CyberFuels, Inc., Has Executed a Purchase and Sale Agreement and Completed Its Due Diligence to Acquire Land and Adjoining Canal at the Port of Tampa

PALM BEACH GARDENS, Fla., July 12, 2021 (GLOBE NEWSWIRE) -- EncounterCare Solutions, Inc. (OTC BB: ECSL) is pleased to announce that its wholly owned subsidiary, CyberFuels, Inc., has completed a binding Purchase and Sale Agreement in connection with the purchase of 65+ acres of real estate at the Port of Tampa, inclusive of its on-going businesses there. CyberFuels intends, after closing, to build its new environmentally friendly, state-of-the-art fuel blending and distribution terminal on this excellent site, previously used as a major oil company’s tank terminal. The businesses being purchased are responsible for maintaining logistical operations of incoming and outgoing tanker and barge traffic on the canal, maintaining Army Corp of Engineering canal maintenance and depth requirements of the canal, and charging for and collecting the costs and expenses to keep the canal running correctly and efficiently. CyberFuels has completed its due diligence and is moving to close the transaction as soon as possible, on or about August 3, 2021, subject to certain conditions to closing. CyberFuels expects to begin permitting as soon as possible with construction to begin once those permits are obtained.

John Lawrence (President of CyberFuels) stated, “We are very excited about achieving this Definitive Agreement to acquire these properties and the businesses necessary to develop our state-of-the-art terminal which will greatly expand the opportunities for CyberFuels throughout Florida, the US and abroad.”

The real property portion of the acquisition is comprised of 65+ acres of land, including certain riparian rights, in the Port of Tampa along with an operational shipping wharf. The property has excellent interstate access, existing rail service and wharf facilities for barge and large tanker deliveries and sales. Plans are to develop, through partnerships, portions of the property to accommodate CyberFuels corporate office as well as planned commercial office and storage space suited to regional companies conducting business at the terminal and in markets around Florida. Management is currently in negotiations with potential tenants to lease space in the terminal office facility as well as leasing some land that will not be needed for CyberFuels’ growth subject to closing this purchase.