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Dear BioNitrogen Shareholder

  • May 5th, 2015

May 5, 2015
Dear BioNitrogen Shareholder,
As a result of the many calls we have received regarding the current status of our company, I would like to provide you with an update regarding recent events as well as assure you that the company is poised to move forward and carry out its projects as have been outlined previously.
As some of you are aware, I was recently interviewed by the City of Perry newspaper in which I stated that the plans for the construction of the Taylor County plant are proceeding well. In addition, Bob Brown, the Perry City Manager, was quoted in the April 15th edition of the Taco Times, as saying, “I feel very good about the project here”. We agree with Mr. Brown! There is a significant level of engineering activity that is happening “behind the scenes” that we are not at liberty to disclose. However, I can tell you that the Construction Air Permit application was submitted to the Florida Department of Environmental Protection on April 24th. Those of you familiar with the technical requirements for an air permit will understand the level of very sophisticated engineering that must be accomplished to complete this application.
I also mentioned during the interview that the Biomass Feasibility Study was completed and released by the Parton Group recently. The study confirmed our assessment that the supply of woody biomass in the Taylor County area is sufficient to meet our needs. Those are two critical pieces of the project plan that had to be completed to allow us to continue progressing towards completion of the engineering and the EPC contract.
In addition, I want to point out that the progress in the engineering process related to Taylor County also applies to the Hendry County plant. We have made significant progress in the permitting process, site analysis and site plan preparation. The plans and evaluations for plant construction at Hendry County remain unchanged and have confirmed our expectations for the viability of the project.
I want to assure you that we will keep you informed of our progress and developments as we take our Company to the next level. As part of this process, our team is diligently working at finalizing our audited financial statements, preparing all the required documentation for the up-listing from Pink Sheets to becoming a fully reporting entity.
Finally, we will be making several additional announcements in the upcoming days regarding our progress.
Yours truly,

Carlos A. Contreras, Sr.
Chairman & CEO

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