PRESS RELEASE
PREACHERS COFFEE, INC. SIGNED A JOINT VENTURE AGREEMENT WITH MODERN ENERGY CORP. ON 36,103 ACRES AGRICULTURAL DEVELOPMENT INTEREST IN THE PHILIPPINES
August 3, 2009 - TAMPA, FLORIDA – Preachers Coffee, Inc. (OTC: PRCF and PCIO) and MODERN ENERGY CORP. (Frankfurt: ME2C.F) just completed a Joint Venture Agreement on the Technical Management and Operating Contract of a 36,103 Acres of Agricultural and Forest Land which is under a Community Based Forest Management Agreement (CBFMA) of the Government of the Philippines in partnership with the Manobo Indigenous Community Cooperative in the Philippines.
The Joint Venture Agreement has 25 Years CBFMA Contract and an indefinite extension since it was appropriated in an Ancestral Domain Land Management for the Manobo Indigenous Communities – who has the Ancestral Domain Rights to the land and their Community Cooperative was for purposes of Agricultural and Forest Management to improve their lives.
The Joint Venture Technical Management and Operating Contract of the said 36,103 Acres Property will allow Financial Assistance and Technical Management to be provided by Preachers Coffee, Inc. and Modern Energy Corp.
Rubber Trees for Forest Management plus Coffee and Jatropha Plants are prepared to be planted in the Agricultural Areas. Jatropha Plant produces seeds with oil used for making BIO-DIESEL.
Chairman of Modern Energy, John Winnick stated: The Preachers Coffee, Inc. joint venture with 36,103 acres of prime agricultural land in the Philippines is just one example of the global vision of green energy from Jatropha and cash crops such as coffee to further expand Modern Energy's footprint to the nearly 1,000,000 acres that it currently controls through its subsidiary, SSRDC.
Modern Energy is instituting the change that will provide Bio-Diesel feedstock for the Asian Pacific basin, developing the regions economics from a third world nation to a world class provider of alternative clean energy. The green energy will provide jobs and opportunity for growth on the eighth largest island population on earth and showcase the best of environmental capitalism.”
Chairman and CEO of Preachers Coffee, Inc. of mother company Delaware (Symbol: PRCF) and its spun off subsidiary Colorado (Symbol: PCIO), Nestor C. Buenaflor said that “this Joint Venture Agreement with Modern Energy Corp. will provide a very good Livelihood Program for the Manobo Tribal Communities and with the Jatropha Plants introduced as one of the cash crops will induce positive Environmental Impact because of Bio-Diesel Production.”
“We are not only cleaning the air because of Forest Management and Bio-Diesel from Jatropha Plant, but we also help lives of poor people in the remote areas of the world by them giving jobs and income”, added Nestor Buenaflor.
CONTACT:
Modern Energy Corp
John Winnick
Phone: 1-858-220-0243
Email: info@modernenergycorp.com
CONTACT:
Preachers Coffee, Inc.
NESTOR C. BUENAFLOR
Mobile Phone: +852-5315-7047
Email: nestorbuenaflor@yahoo.com
