Leone Asset Management Inc. (LEON)

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$LEON Leone Asset Management’s Subsidiary JP Anderson Signs MOU

https://www.accesswire.com/785745/leone-asset-managements-subsidiary-jp-anderson-signs-mou

CLEARWATER, FL / ACCESSWIRE / September 20, 2023 / Today, Leone Asset Management (OTC PINK:LEON) Subsidiary JP Anderson, Ltd., announced that they have entered a Memorandum of Understanding (MOU) with the Nyingohun landholding family of Molendeh Village in the Nyawa Section of the Gbo Chiefdom in Sierra Leone, West Africa.

The MOU agreement between the two parties is to undertake the business of quarrying, leading to the crushing of stone for infrastructure development in Sierra Leone and other countries in West Africa. JP Anderson will be operating a 500+-acre quarry location in the Bbo Chiefdom in Sierra Leone. The quarry location has more than 100 million tons of stone to be crushed. The agreement is in place for 20 years with an additional 25-year option. The parties anticipate beginning operations in the first quarter of 2024.

James Price, Chairman and CEO of Leone Asset, stated, we anticipate beginning operations with a 350 ton per hour crushing plant and operating six days per week with two eight hour shifts daily. We plan on doubling production in both year 2 and year 3 depending on demand for the finished product. For all product marketing and quarry information Leone will be building out a separate website (LeoneStone.com) and will be selling all products as Leone Stone & Gravel.

This opportunity and corporate expansion will add tremendous share-holder value and will allow Leone Asset to participate with Sierra Leone and other Sub-Saharan countries with some of the World's largest infrastructure development over the next fifty years."