Sulphco, Inc.(fka SLPHQ)

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Nice SUF News

Thursday , March 30, 2006 09:17 ET

SPARKS, Nev., March 30, 2006 /PRNewswire-FirstCall via COMTEX/ -- SulphCo, Inc. (Amex: SUF) announced today that it has sold four million units of its securities in a private placement for cash proceeds of $27.2 million. Of the units sold, half were purchased by investors who participated in the Company's June 2004 private placement, while the other half were purchased by a private European investor.

The Company intends to use the proceeds from the sale for the commercial rollout of the proprietary Sonocracking(TM) technology, including implementation of the joint venture in Fujairah and general corporate purposes.

Each unit has a purchase price of $6.805 and consists of one share of common stock and a warrant entitling the purchaser to buy one share of common stock at the purchase price within 18 months. The unit price of $6.805 was based upon the average unit price between March 8, 2006 and March 22, 2006. The Company has agreed to file a registration statement with the Securities and Exchange Commission within 30 days of the initial closing to register the resale of common stock acquired by the investors.

About SulphCo, Inc.

SulphCo has developed a safe and economical patented process that employs ultrasound technology to desulfurize and hydrogenate crude oil and other oil related products. The company's technology upgrades sour heavy crude oils into sweeter, lighter crudes, producing more gallons of usable oil per barrel.

From time to time, the company may issue forward-looking statements, which involve risks and uncertainties. This statement may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as actual results could differ and any forward-looking statements should be considered accordingly.

SOURCE SulphCo, Inc.

Media Inquiries Contact - Chris Allieri, The Global Consulting Group,
[phone], [e-mail]; Institutional Investors Contact - Cesar
Villavicencio, The Global Consulting Group, [phone],
[e-mail]; Retail (Individual) Investors Contact - Dennis Dobson,
[phone]

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