VitalTrust Business Development Company (OTCBB:VTBD) (“VTBD” or the “Company”) and Earth First Technologies, Inc. (Pink Sheets:EFTI) (“EFTI”) today jointly announce an agreement by which VTBD will assume all rights and obligations of the Lease Agreement and Palm Oil Supply Contract that EFTI entered into with Loder Croklaan USA, LLC. This agreement and contract, which were entered into in April 2007, contemplates the retrofit of an existing Bio-Diesel facility in Channahon, Illinois and a 15 year uninterrupted supply contract for Palm Oil to supply this facility and others in the Untied States. Under the terms of the Agreement, the Company will issue an undisclosed amount of stock to EFTI and anticipates completing the transaction upon completion of the Company’s election to withdraw from being treated as a business development company under the Investment Company Act of 1940.
“Our business plan calls for a vertically integrated Renewable Energy structure that will have production of Bio-Diesel as one of its main components,” commented Alex H. Edwards III, VitalTrust CEO. “This is the first in a number of actions that the Company is pursuing with regards to increasing our portfolio of assets which will enable us to deliver Renewable Energy to the World.”
Investors are cautioned that certain statements contained in this document are “Forward-Looking Statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements which are predictive in nature, which depend upon or refer to future events or conditions, which include words such as “believes,” “anticipates,” “intends,” “plans,” “expects,” and similar expressions. In addition, any statement concerning future financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects, and possible future VitalTrust actions, which may be provided by management, are also forward-looking statements as defined by the act. These statements are not guarantees of future performance.
For more information please visit www.renwenergy.com.
VitalTrust Business Development Company, Tampa
Beverly Mercer,
813-865-1120
info@renwenergy.com