Infinite Holdings Group, Inc. Signs Letter of Intent to Acquire a License to Enter Biofuels Industry in the Caribbean 36 minutes ago - Market Wire
As of 12:00 AM ET 6/4/08 Infinite Holdings Group, Inc. (PINK SHEETS: IHGO) announced today that it has entered into a Letter of Intent with Pioneer Petroleum to acquire an initial license to distribute biofuels throughout the Caribbean. The Pioneer license is based in the Turks and Caicos Islands which Infinite envisions to become the beta testing market for its initial distribution efforts. The agreement is subject to a period of due diligence by both parties and any eventual acquisition will be subject to a definitive agreement and board approval.
"We are of the opinion that the price of fuel will continue to rise and this initiative seeks to provide a cost effective alternative for the energy needs for the Caribbean consumer, we are also cognizant of the beneficial factors of biofuels such as biodiesel in relation to the environment.", stated Mr. Ashley Redmond, CEO of Infinite Holdings Group, Inc.
Infinite Holdings also announced that in its efforts with respect to the Habiquad system, it is currently seeking government planning approvals in order to then begin a comprehensive marketing and distribution strategy.
About Infinite Holdings Group, Inc.
Infinite Holdings Group Inc. is a diversified holding company with a focus on Caribbean Basin growth opportunities particularly those which involve Caricom member and associate member nations. The Caricom Single Market and Economy is intended to benefit the Caribbean Region by providing stimulating growth opportunities in an effort to enhance economic development and to attract foreign investment. Infinite Holdings is also continuing in its efforts with respect to mineral exploration concurrent with other projects in the Caribbean.
On behalf of the Board of Directors,
Mr. Ashley Redmond, CEO
This press release contains certain forward-looking information and statements concerning the company's operations, performance and financial condition, including, in particular; the ability of the company to conclude a transaction involving the acquisition of the aforementioned license and the company's ability to generate revenue from the license. These statements are based upon a number of uncertainties and contingencies, many of which are beyond the control of the company. Actual results may differ materially from those expressed or implied by such forward-looking statements. This document is not intended to be and is not an advertisement for any securities of the company.
Contacts: Infinite Holdings Group, Inc. Mr. Ashley Redmond CEO (954) 903-0955 (954) 827-0341 (FAX) Email: Info*InfiniteHoldingsGroup.com Website: www.InfiniteHoldingsGroup.com