BioNitrogen Holdings Corp. (BIONQ)

[DTGoody]

BIONQ KEY STATEMENTS

*On emergence from Chapter 11, BioNitrogen will immediately move to complete the necessary engineering design work specific to a planned location in Taylor County, and secure the necessary financing to build the facility.


*The original project to build in the City of Perry was sound and we are delighted that the City and the community continue to support us with this agreement. The location of the facility could not be better placed logistically, and the region is rich in biomass feedstock, contributing to the financial success of the plan. Having the location and the plan to build what would be our first showcase plant, facilitates conversations with possible strategic and financial partners.

*Bob Brown, City Manager for Perry, commented: “We are pleased to have this agreement with BioNitrogen and we look forward to their successful restructuring through the Chapter 11 process and their immediate focus on Taylor County as a first place to build. This project will create jobs and a broader economic benefit for the county and the City."

The City of Perry and the community is committed to providing whatever logistical and technical assistance we can to BioNitrogen to bring this project to life