Statement from CEO of Integrated Bio-Energy Resources, Inc.
24 Dezember 2008 - 12:26AM
PR Newswire (US)
NEW YORK, Dec. 23 /PRNewswire-FirstCall/ -- Mr. Bernard Bernstein,
President and C.E.O. of Integrated Bio-Energy Resources, Inc.,
(Pink Sheets: IBIE) announces the following: The company's Board of
Directors, in seeking to develop IBIE as a holder of significant
stakes in the commodity and energy sectors, has begun the process
of transforming and strengthening its management structure and
seeking asset identified acquisition opportunities. Accordingly,
the Board of Directors has accepted the resignation of Mr. Scott
Wagman and Mr. Stewart Sytner on August 1, 2008 and Mr. David
Michael Holbrook on August 17th 2008. The Board of Directors has
invited Mr. Michael Reynolds, current Chairman of Renewable Power
and Light PLC, who has held a number of posts in important UK
public energy supply companies, to become Chairman of IBIE subject
to compliance requirements and the completion of an initial
acquisition opportunity as announced below. Abraham Cefeida Pty
Ltd. Australia and IBIE have entered into a memorandum of
understanding subject to due diligence and a definitive agreement
where IBIE will acquire initially a 49% interest in its Panguna
region (Papua New Guinea) copper mining asset rights, and exclusive
product distribution rights for the US, Canada and CARICOM region.
The Panguna region copper deposits rank as one of the larger copper
bearing areas in the world. This release is not intended to value
the securities of IBIE, or imply any certainty that definitive
agreements will be reached either as to assets and management
Objectives. Safe Harbor Forward-Looking Statements Except for
historical information contained herein, the statements in this
release are forward-looking statements that are made pursuant to
the safe harbor provision of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements involve known and
unknown risks and uncertainties that may cause the companies'
actual results in future periods to differ materially from
forecasted results. Such risks and uncertainties include, but are
not limited to, market conditions, competitive factors, the ability
to successfully complete additional financings and other risks.
DATASOURCE: Integrated Bio-Energy Resources, Inc. CONTACT: Bernard
Bernstein, +1-561-715-5827
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