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BioNitrogen Business Update

  • Bion User
  • September. 02, 2015

PR Newswire

DORAL, Fla., Sept. 2, 2015 /PRNewswire/ — BioNitrogen is pleased to provide a business and strategic initiatives update to its stakeholders. BION is proceeding with the necessary steps to complete the Engineering, Procurement and Construction Contract and (contingent upon adequate financing) start construction of its first plant.  Carlos Contreras, BioNitrogen’s Chairman and CEO commenting on business-related activities this year, stated:  “Our focus has been on restructuring the company to reduce costs and establish a solid foundation with the right leadership and partners. We strongly believe that Company’s potential has changed for the better with overseas interest on our technology and processes,” he added.

Last week, in Taylor County (FL), Community and Southern Bank approved a one-year extension on the loan to BioNitrogen for the Taylor County Plant.  This event brings to a successful conclusion months of negotiations between BioNitrogen, the City of Perry and Community and Southern Bank and solidifies Taylor County as the site for a future plant.

BioNitrogen is talking to industry leaders in the area of energy and agribusiness in South America who are interested in implementing the technology in the region; a region in which 12% of the world production of corn, and 25% of the world production of sugar resides.

BioNitrogen plans to complete its financial audits with the goal of becoming an SEC reporting company, up-list to the OTCQB and for expected funding of the plant’s construction with government supported bonds.   In connection with the financial audits, the Company plans to file a Form 10 with the SEC.  “Up-listing the stock to the OTCQB is of strategic importance and our team is working diligently to accomplish this critical goal” added CEO Contreras.

About BioNitrogen Holdings Corp.

BioNitrogen Holdings Corp. (OTC PINK: BION) is a clean tech company that utilizes patented technology to build environmentally friendly plants that convert biomass into urea fertilizer. Our mission is to provide safe, cost effective, green solutions that are economically beneficial in locations where biomass is produced and urea is consumed. Additional information can be found at www.BioNitrogen.com.

Safe Harbor Statement

Statements made in this press release that express the Company’s or management’s intentions, plans, beliefs, expectations or predictions of future events, are forward-looking statements. The words “believe,” “expect,” “intend,” “estimate,” “anticipate,” “will” and similar expressions are intended to further identify such forward-looking statements, although not all forward-looking statements contain these identifying words. Those statements are based on many assumptions and are subject to many known and unknown risks, uncertainties and other factors that could cause the Company’s actual activities, results or performance to differ materially from those anticipated or projected in such forward-looking statements. The Company cannot guarantee future financial results; levels of activity, performance or achievements and investors should not place undue reliance on the Company’s forward-looking statements. No information contained in this press release should be construed as any indication whatsoever of the Company’s future financial performance, future revenues or its future stock price. The forward-looking statements contained herein represent the judgment of the Company as of the date of this press release, and the Company expressly disclaims any intent, obligation or undertaking to update or revise such forward-looking statements to reflect any change in the Company’s expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based.

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/bionitrogen-business-update-300137168.html

SOURCE BioNitrogen Holdings Corp.

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