Brian Dean, Publisher of OTCPicks.com, announced today that his firm has initiated Profile Coverage of Southridge Enterprises (OTCBB: SRDG). Mr. Dean comments, "Southridge Enterprises recently announced that it has signed an agreement with Beijing-based investment firm, Shenyang Rrzk Co., Ltd., to sell a 20% interest in the Company's El Salvador ethanol facility for $4 million. This foreign investment participation in the El Salvador plant stems directly from the effectiveness of our Asian market awareness program currently being implemented by marketing firm Kikomaki Corp.”
The Company began construction of the ethanol manufacturing plant in El Salvador in February 2008. The new plant will have a maximum annual capacity of 20 million gallons per year and for a total cost of approximately $20 million. The construction of the first phase of the facility is expected to be completed by early 2009 with the entire plant operational near the end of 2009 or early in 2010.
To view the OTCPicks.com Company Profile for Southridge Enterprises, please visit: http://www.otcpicks.com/southridge-enterprises/southridge-enterprises.htm
About Southridge Enterprises
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/.
About OTCPicks.com
OTCPicks.com is an Internet destination for investors seeking information on smallcap and microcap companies. The web site features companies in Profile Campaigns, Executive Interviews and Research Reports authored by our financial writers. We publish our Daily Market Movers Digest Newsletter to opt-in investor members. To feature a company on OTCPicks.com, please contact our publisher, Brian Dean at 972-546-3740, or via email at publisher@otcpicks.com.
Forward-Looking Statement: This press release includes "forward-looking statements" within the meaning of the federal securities laws, commonly identified by such terms as "believes," "looking ahead," "anticipates," "estimates" and other terms with similar meaning. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct. Important factors that could cause actual results to differ materially from the Company's projections and expectations are disclosed in the Company's filings with the Securities and Exchange Commission. All forward-looking statements in this press release are expressly qualified by such cautionary statements and by reference to the underlying assumptions.
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