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DALLAS, Aug. 20 /PRNewswire-FirstCall/ -- Southridge Enterprises, Inc.
(OTC Bulletin Board: SRDG; the "Company") today announced that it has entered
into an ethanol sales agreement with Hong Kong based Jinsung Ho Trading Group
(JHTG) for the supply of 20 million gallons of ethanol per year. Deliveries
are expected to begin in October 2008. The ethanol is being sourced from
Petrozilian Energia SA (PES) from Brazil.
Over the last several quarters the company completed several similar
ethanol sale transactions with European based buyers. However, this new
transaction with JHTG is a direct result of our increased exposure from the
Company's market awareness program in the Asian Pacific Rim. The Company
expects this to be the first of many purchases to come from that region.
About Southridge Enterprises, Inc.
Southridge Enterprises is a renewable energy company with a mission to
become the ethanol producer of choice in the southeastern region of the United
States. The Company is focusing its efforts in an area which offers abundant
supplies of corn, superior transportation infrastructure and expedited
permitting processes. The Company is actively acquiring and developing ethanol
production facilities and anticipates start-up of the first phase of these
operations in 2009. Southridge Enterprises is headquartered in Dallas, Texas.
For more information, please visit our website:
http://www.southridgeethanol.com.
Forward-Looking Statements
This news release contains "forward-looking statements," as that term is
defined in Section 27A of the Act and Section 21E of the Securities Exchange
Act of 1934. Statements in this press release, which are not purely
historical, are forward-looking statements and include any statements
regarding beliefs, plans, expectations, or intentions regarding the future.
Such forward-looking statements include, among other things, successfully
equipping the Quitman County plant for the production of ethanol, and the
start-up of production of in 2009, if at all.
Actual results could differ from those projected in any forward-looking
statements due to numerous factors. Such factors include, among others, the
inherent uncertainties associated with the development of an early stage
company in the alternative energy industry, its products, and the entry into
new markets for such products. These forward-looking statements are made as of
the date of this news release, and the Company assumes no obligation to update
the forward-looking statements, or to update the reasons why actual results
could differ from those projected in the forward-looking statements. Although
the Company believes that the beliefs, plans, expectations, and intentions
contained in this press release are reasonable, there can be no assurance
those beliefs, plans, expectations or intentions will prove to be accurate.
Investors should consider all of the information set forth herein and should
also refer to the risk factors disclosed in the Company's current and periodic
reports filed from time to time with the Securities and Exchange Commission.
SOURCE Southridge Enterprises, Inc.
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