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[QUOTE]Originally posted by fishfarmer: [QB] PHGI -- Perihelion Global, Inc. Com ($0.001) COMPANY NEWS AND PRESS RELEASES FROM OTHER SOURCES: Perihelion Global and City of Opp, Alabama, Sign Formal Agreement Establishing Terms of BioFuel Refinery WILMINGTON, DE and SANTA ROSA BEACH, FL and OPP, AL, Feb 14, 2007 (MARKET WIRE via COMTEX) -- Perihelion Global (PINKSHEETS: PHGI), a development company with interests in natural resources, alternative energies, and communications, today announced that the company has signed a formal agreement with the City of Opp, Alabama, establishing definitive terms regarding Perihelion's $40M BioFuel refinery to be constructed in the Opp Industrial Park. The agreement, available for public review on the [URL=http://www.pinksheets.com]www.pinksheets.com[/URL] site under 'Financial Reports' for PHGI, outlines a comprehensive set of mutual promises and obligations to be fulfilled by Perihelion and The City of Opp. Under the terms of the agreement, the total acreage available to Perihelion for construction of the plant and its associated structures is approximately 53.7 acres, which Perihelion will lease from Opp at a price of $2,685 per quarter for five years. Perihelion has the option to purchase the property outright for a sum of $53,700 any time within the first five years and lease payments paid by Perihelion will be credited against the purchase price. Other key representations in the agreement include The City of Opp providing site preparation, grading, drainage on the property and water, sewer, natural gas, and electrical utilities connections up to the property at no charge to Perihelion. As outlined in previous releases, The City of Opp also grants significant tax advantages and abatements to Perihelion. The company is obligated to complete the BioFuel manufacturing facility within (2) years and employ 20 persons upon completion of the facility. A year thereafter, the company has agreed to employ a minimum of at least 100 persons at an average wage of $14/hour including fringe benefits. Commenting on the agreement, Perihelion Global Chairman & Chief Executive Officer John H. Beebe stated, "We have reached this point with a focused and collective effort by more than a dozen highly-talented individuals involved in this project. Each and every one of Perihelion's Management and numerous Opp Officials played an important role in creating what we feel will be a lasting and mutually beneficial relationship between Perihelion Global and the City of Opp. We'd like to sincerely thank Opp Mayor H.D. Edgar, Covington County, the State of Alabama, and the hundreds of people we met at our initial press conference and groundbreaking ceremony. We are inspired by your faith and readiness to begin this journey, and we are committed to work side-by-side with you as a model for positive change in our world." About Perihelion Global: Perihelion Global focuses on the acquisition, development and management of technologies, strategic commodity reserves and assets in the energy, natural resource and communications markets. Perihelion's management team specializes in providing solutions for the strategic challenges of 21st Century. We lead with decades of experience in environments that are mission critical in today's global marketplace: Technology, Energy and Communications. Website: [URL=http://www.perihelion.com]www.perihelion.com[/URL] [/QB][/QUOTE]
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