VitalTrust and Earth First Technologies Agree to Transfer of Palm Oil Supply Agreement and Facility Lease
February 07 2008 - 9:00AM
Business Wire
VitalTrust Business Development Company (OTCBB:VTBD) (�VTBD� or the
�Company�) and Earth First Technologies, Inc. (Pink Sheets:EFTI)
(�EFTI�) today jointly announce an agreement by which VTBD will
assume all rights and obligations of the Lease Agreement and Palm
Oil Supply Contract that EFTI entered into with Loder Croklaan USA,
LLC. This agreement and contract, which were entered into in April
2007, contemplates the retrofit of an existing Bio-Diesel facility
in Channahon, Illinois and a 15 year uninterrupted supply contract
for Palm Oil to supply this facility and others in the Untied
States. Under the terms of the Agreement, the Company will issue an
undisclosed amount of stock to EFTI and anticipates completing the
transaction upon completion of the Company�s election to withdraw
from being treated as a business development company under the
Investment Company Act of 1940. �Our business plan calls for a
vertically integrated Renewable Energy structure that will have
production of Bio-Diesel as one of its main components,� commented
Alex H. Edwards III, VitalTrust CEO. �This is the first in a number
of actions that the Company is pursuing with regards to increasing
our portfolio of assets which will enable us to deliver Renewable
Energy to the World.� Investors are cautioned that certain
statements contained in this document are �Forward-Looking
Statements� within the meaning of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements include statements
which are predictive in nature, which depend upon or refer to
future events or conditions, which include words such as
�believes,� �anticipates,� �intends,� �plans,� �expects,� and
similar expressions. In addition, any statement concerning future
financial performance (including future revenues, earnings or
growth rates), ongoing business strategies or prospects, and
possible future VitalTrust actions, which may be provided by
management, are also forward-looking statements as defined by the
act. These statements are not guarantees of future performance. For
more information please visit www.renwenergy.com.
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