American Biofuels is Unaware of Any Material Changes

Vancouver, British Columbia--(Newsfile Corp. - October 18, 2018) - American Biofuels Inc. (TSXV: ABS.H) (the "Company"), at the request of IIROC wishes to confirm that management is unaware of any material change in the Company's operations that would account for the recent increase in market activity.

American Biofuels is currently an oil and gas issuer, and as disclosed in its News Release dated October 9, 2018, is looking for new business opportunities.

On behalf of the Board of Directors

SIGNED: "Teresa Cherry"
Teresa Cherry, CFO
Contact: (604) 336-8617

For further information on ABS.H, please visit our website at www.transamericanenergy.com.
The Company's public documents may be accessed at www.sedar.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward Looking Statement:

This news release may contain assumptions, estimates, and other forward-looking statements regarding future events. Such forward-looking statements involve inherent risks and uncertainties and are subject to factors, many of which are beyond the Company's control that may cause actual results or performance to differ materially from those currently anticipated in such statements.