|By Marketwired .||
|November 22, 2012 01:14 PM EST||
CALGARY, ALBERTA -- (Marketwire) -- 11/22/12 -- AMG Bioenergy Resources Holdings Ltd. (the "Company") (TSX VENTURE:ABG), wishes to announce that the Company has signed a non-binding Letter of Intent with Eco-Energy China Group, Inc ("EEC"), regarding the potential acquisition of EEC's 10,000 hectares of Jatropha plantation assets in Guizhou province, PRC as well as its right to further plant another 30,000 hectares of Jatropha in the same area. The Company intend to release more detailed terms and conditions, if both EEC and the Company proceed to complete a formal agreement on or before 31 March 2013.
Eco-Energy China Group, Inc ("EEC"), is an integrated bio-diesel producer based in Guizhou province, PR China. EEC owns a 30,000 tonne/annum multi-feedstock refinery in Guiyang, the provincial capital of Guizhou. EEC also owns an approximate 10,000 hectares of jatropha plantation assets in southern Guizhou province, planted during 2006 and 2007, and also acquired the right to plant another 30,000 hectares of Jatropha at the same area.
About AMG Bioenergy Resources Holdings Ltd.
The Company has been active in research and development of bio-fuel feedstock and biodiesel conversion with the intent of developing a business producing jatropha as a bio-fuel feedstock in the People's Republic of China and other parts of Asia.
ON BEHALF OF THE BOARD
Lee Shoong Lim, Managing Director
"This news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Such information is subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward- looking information. Readers are cautioned not to place undue reliance on forward-looking information, as no assurances can be given as to future results, levels of activity or achievements."
Neither 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.
AMG Bioenergy Resources Holdings Ltd.
Lee Shoong Lim
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