APPI NEWS!
Advanced Plant Pharmaceuticals, Inc. and H & H Equipment Co. (HHE) Sign Letter of Intent Agreement To Provide $1.2 Million in Financing for Construction of Two Biodiesel Plants
Tuesday December 19, 4:30 pm ET
NEW YORK, NY--(MARKET WIRE)--Dec 19, 2006 -- Advanced Plant Pharmaceuticals, Inc. (OTC BB:APPI.OB - News) announced today the signing of a Letter of Intent (LOI) agreement with H & H Equipment Company, Inc. (HHE), a division of Hannah Industries, for the necessary financing to construct two biodiesel plants.
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HHE, a Kentucky corporation engaged in coal mining, loading and blending, washing and marketing and brokering of coal for utilities and other large industrial users, is a privately held company. According to the terms of the LOI, HHE will provide $1.2 million in funding to APPI in exchange for a minority interest in APPI in the form of preferred convertible stock. The funds will primarily be used to construct two biodiesel plants, with one plant to be constructed in eastern Kentucky and one in Palm Beach County, Florida.
As previously announced, the biodiesel plant in Kentucky is for a coal mine which will require 4-5 thousand gallons a day. Revenue for the first full quarter of operation is projected at $1 million, or $4 million annually.
Separately, APPI has announced merger negotiations with an undisclosed clean coal technology company. The clean coal patented process is designed to increase the BTU of low quality coal which substantially increases the value of low-grade lignite and sub-bituminous coal. The environmentally friendly process captures and removes harmful elements without disintegrating the coal and destroying further processing. Significantly, the patented process requires only 4-18 minutes retention time vs. the industry standard of 2-6 hours. Further development will require limited capital expenditures to be funded via grants from future partners.
To be added to APPI's corporate e-mail list for shareholders and interested investors, please send an e-mail to ir@advancedplantpharm.com.
About Advanced Plant Pharmaceuticals, Inc. (http://www.advancedplantpharm.com)
Advanced Plant Pharmaceuticals, Inc. (APPI) focuses on the research and development of whole plant-based nutritionals. The company has a composition-oriented patent for a proprietary process of utilizing whole plants to safely manufacture all-natural nutritional supplements. APPI markets and distributes its line of products including Lo-Chol™ worldwide through various sales distribution channels.
"Safe Harbor Statement'' Under The Private Securities Litigation Reform Act Of 1995
This press release contains forward-looking statements that involve risks and uncertainties. The statements in this release are forward-looking statements that are made pursuant to safe harbor provision of the Private Securities Litigation Reform Act of 1995. Actual results, events and performance could vary materially from those contemplated by these forward-looking statements. These statements involve known and unknown risks and uncertainties, which may cause Advanced Plant Pharmaceuticals, Inc.'s actual results in future periods to differ materially from results expressed or implied by forward-looking statements. These risks and uncertainties include, among other things, product demand and market competition. You should independently investigate and fully understand all risks before making investment decisions.
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