CybeRelease: (OTC PK: APPI) in Negotiations for $1.25 Million in Financing
(CybeRelease, February 7, 2007) - Lake Harmony, PA - Advanced Plant Pharmaceuticals, Inc. (OTC BB: APPI) announced the company is in advanced stage negotiations for the necessary financing to construct two biodiesel plants with one plant in Kentucky to provide biofuel to a dedicated and committed customer and the other plant to be constructed in Florida.
The pending agreement includes a long-term lease of property for the biodiesel plants. As previously announced, the biodiesel plant in Kentucky is for a coal mine which will require 4-5 thousand gallons a day. The company has forecasted the first plantís revenue run rate at APPI $1 Million quarterly after the plant has completed its first full quarter of operation. An additional site is planned in the State of Florida with similar favorable long-term leasing options and state tax incentives. The company will announce the financing closing and construction start dates in the near future.
Advanced Plant Pharmaceuticals, Inc. has previously announced that the companyís board of directors had adopted a resolution to change the corporate name to World Health Energy, Inc., to reflect the companyís acquisition of World Health Energy, Inc. and the new business planís focus on biofuels and renewable energy production and distribution. The company anticipates the name change will be completed within sixty days. A new ticker symbol to reflect the corporate name of World Health Energy, Inc. will be issued after the name change has been approved. World Health Energy, Inc. plans to use renewable cost-effective agricultural products both domestically and internationally to develop natural alternative fuels.
An 8-K for the merger with World Health Energy will be filed after the satisfaction of the closing conditions, which include, without limitation, issuance and receipt of all consideration relating to the transaction and other customary closing conditions.
To be added to Advanced Plant Pharmaceuticalís corporate e-mail list for shareholders and interested investors, please send an e-mail to email@example.com.
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