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GeoBio Energy, Inc. focuses growth strategy on the chemical business of Magna Energy Services

GeoBio Energy, Inc. recently made a strategic decision to focus its oil and gas service and chemical business on the acquisition of Magna Energy Services ("Magna") and accordingly terminated, as of September 13, 2010, a previously announced H&M Precision Products, Inc. acquisition agreement. GeoBio's management believes that the termination of the H&M agreement will enable GeoBio to direct its efforts toward completing the acquisition of Magna and supporting other proposed acquisition initiatives.