SANTA ANA, Calif., Sept. 15, 2010 (GLOBE NEWSWIRE) -- BioCentric Energy Holdings, Inc. (Pink Sheets:BEHL) President Monique Berry provided the following shareholder update:
Ms. Berry stated, "BioCentric Energy and BioCen (Pink Sheets:BNPD) are finalizing their negotiations this week for the acquisition of all BEHL assets. The assets include, but are not limited to, BEHL's intellectual property, all components, equipment, inventory, PBR systems and client contracts. The Companies both agree for BEHL to maintain its position as a public company. Furthermore the parties agree that BEHL will be the exclusive assembly and installation division for BNPD and will profit from a cost plus 20% contract share ratio. BEHL shareholders can preserve their shares and will receive 1 BNPD unrestricted free trading share for every 10 BEHL shares owned as of the record date to be announced shortly. The executive team and board positions are currently being defined and contracts are being negotiated. The Companies anticipate finalizing and announcing these positions early next week."
Dennis Fisher, Chairman of the Board for BEHL, stated today, "I have agreed to be a returning guest on Market Playground with Demian Russian to answer all questions compiled through his internet blog. I appreciate Demian taking the time to allow us to communicate through his forum."
Fisher will be interviewed by Demian Russian and Dennis "Cos" Costa. Previous episodes of Playground Radio are available for streaming or download, as an Mp3 file or via iTunes.
Further information about Playground Radio can be found at the Playground Radio Home Page:
Link for investors to submit questions and suggestions:
Ms. Berry further commented, "The BEHL technical team is providing daily updates and pictures of their progress as they deploy the Company's first commercial PBR systems in Death Valley Junction this week. Once the deployment is complete, the team will transport approximately 1,000 gallons of Haematococcus that will be inoculated into the system. The anticipated date for inoculation in Death Valley Junction is October 5th, 2010."
"For several months now, the Company has been testing a proprietary algae strain in its large commercial demo PBR system located in Santa Ana, California. The tests are now complete and the Company is very pleased with the results and high growth rate of the algae in its PBR system. The team has decided to replace the plastic tubes in lieu of cleaning and flushing to reduce any risk of contaminating prior to inoculating the system with the highly valuable Haematococcus."
Safe Harbor Statement: This release includes forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by phrases such as BEHL or its management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates" or other words or phrases of similar import. Similarly, statements herein that describe the Company's business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements."
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CONTACT: BioCentric Energy Holdings, Inc. Monique Berry, President 714-966-1234 www.biocentricenergy.com