Cyberfuels Holding Company Inc (CBRF)

[katiesdad7]

STOCK HOLDERS UPDATE:


October 30th 2020

Dear Stockholders:

I would like to take this opportunity to update our shareholders on our progress "to acquire the businesses and property for a fuel distribution plant in Florida". We have been in the process of due diligence and completing the actual Purchase and Sales Agreement. To date, the contract has been agreed upon by both parties. We have been held up from completing the Purchase Agreement due to an insurance matter which needs to be in place prior to signing. It is my understanding that the insurance matters have been for the most part resolved with the exception of one minor piece which is expected to be finished very soon. This will allow us to move forward with the signing and completion of the contract. This is an extremely large deal with many complexities. Nonetheless, we have been able to meet the challenges and our team is ready to begin the necessary work to make our new facility into a world class energy complex complete with an expansive campus like environment for our partnering companies.

We have been expecting to close on the Purchase Agreement for several weeks. Therefore, since it hasn't been signed to this point, I thought that it was appropriate to give our stockholders an update. We expect to have multiple press releases after the PSA is signed.

Sincerely,

Ron Mills

President and CEO