November 22, 2012 13:13 ET
CALGARY, ALBERTA--(Marketwire - Nov. 22, 2012) - 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
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