AMG Bioenergy launches jatropha, eucalytpus venture in China

In Canada, AMG Bioenergy  Resources announced that they have incorporated a subsidiary, AMG Bioenergy Plantations, in the People’s Republic of China to facilitate the acquisition of a 133 hectare jatropha plantation and a 201 hectare eucalyptus plantation, and the associated land use rights.  The LOI to purchase the land was announced last January, but as a result of changes to the regulatory regime in the PRC by foreign entities, the incorporation  longer than anticipated.

Nevertheless, now that the Subsidiary has been incorporated, the Company intends to proceed by assigning the related Land Use Rights Transfer Agreement to AMG Bioenergy Plantations.  AMG anticipates that the Definitive Agreement will be closed on or about October 21, 2011.