LOS ANGELES, Feb. 19, 2014 /PRNewswire/ -- Today, Leone
Asset Management, Inc., (Pink Sheets: LEON) announced it has signed
an MOU to acquire the lease, operational and managerial control of
a second granite quarry in Sierra
Leone. Leone Asset intends to complete all final due
diligence and complete the acquisition within 15 days.
Tony Khodadad, President of Leone
Asset stated, "Last month we announced that we had signed an MOU
for the operational rights to a 89.4-acre granite quarry in
Sierra Leone. I am please to
report that we have concluded our due diligence and the definitive
agreement is now signed and in place. Today we are announcing
the signing of a second MOU with a new quarry location in
Sierra Leone. The new location
is comprised of approximately 400 acres of Granite. The
agreement will give Leone Asset a 25-year lease with options to
renew for the same term. Leone Asset will receive 80% of the
profits generated from the site."
Khodadad continued with saying, "There is a very large demand
for granite in Sierra Leone as
well throughout West Africa due to
tremendous infrastructure development. We are quite pleased
with our relationships and the structure of the projects and feel
that the development of these new assets will yield substantial
profits to our bottom line and will increase shareholder value
considerably."
About Leone Asset Management
Leone Asset Management,
Inc., is a U.S. corporation headquartered in Ventura, California. Sierra Leone subsidiary, Leone Asset
Management, Ltd., operates as a Government contractor as well as
owning and operating a group of diversified subsidiaries that
operate in real estate and development, mining exploration and
export and agriculture related projects. For additional
information, visit: www.leoneasset.com
Forward-Looking Statements Disclosure
This press
release may contain "forward-looking statements" within the meaning
of the federal securities laws. In this context, forward-looking
statements may address the Company's expected future business and
financial performance, and often contain words such as
"anticipates," "believes," "estimates," "expects," "intends,"
"plans," "seeks," "will," and other terms with similar meaning.
These forward-looking statements by their nature address matters
that are, to different degrees, uncertain. Although the Company
believes that the assumptions upon which its forward-looking
statements are based are reasonable, it can provide no assurances
that these assumptions will prove to be correct. All
forward-looking statements in this press release are expressly
qualified by such cautionary statements, risks, and uncertainties,
and by reference to the underlying assumptions.
SOURCE Leone Asset Management, Inc.
