RCMW Group Inc (fka RCMW)

[FLA]

RE POST ON THE BIG BOARDS IF U WANT I DID

GET ON THE BUZZZZZZZ CLOUD 4 THE LAST 1/2 OF POWER HOUR

Friday, May 06, 2011 2:49:16 PM
Re: None Post # of 405572
CPOW Key developments CHINA DEAL Chongqing Grain Group
Clean Power Concepts, Inc. Enters into Joint Venture Agreement with Chongqing Grain Group, Inc
05/5/2011

On April 29, 2011, Clean Power Concepts, Inc. has entered into a Joint Venture Agreement with Chongqing Grain Group, Inc. to establish a joint venture for the purpose of (i) agricultural commodities international trade (ii) managing and creating logistical channels (iii) leasing or acquiring one or more 200,000 to 300,000 metric-tons facilities suitable for crushing and expanding or building 850,000 metric-tons crushing facilities. The Agreement provides that the term of the Joint Venture will be perpetual, subject to certain early termination events, and that the Joint Venture will be managed by a board of directors, two of whom will be selected by CGC and one of whom will be selected by the company. The parties have contributed an aggregate of $3,000,000 to the Joint Venture, of which the company has contributed 5% and CGC has contributed 95%. The company and CGC will be entitled to receive five 5% and 95%, respectively, of the profits of the Joint Venture. In addition, the agreement provides that the company will be committing to source 500,000 metric tons of canola seeds at a minimum to the Joint Venture on a yearly basis.

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