ASHCROFT, British Columbia, Oct. 26, 2011 /PRNewswire-iReach/ -- Ashcroft Diversified Bio-Oil Inc ("Diversified Bio-Oil" or the "Company") wishes to clarify and correct certain statements that have been published regarding its association with Clean Power Concepts Inc. ("CPOW").

Neither Ashcroft Diversified Bio-Oil Inc., nor any employee or related business entities are in any capacity associated with CPOW, Michael Shenher or any members of CPOW's staff. Although CPOW had previously announced an LOI wherein the Company contemplated providing a limited supply of crude canola oil to CPOW, this proposed LOI has been terminated and no formal or informal off-take agreement between the Company and CPOW has been signed. Ashcroft Diversified Bio-Oil Inc. has no intention at any time to enter into any form of business relationship with CPOW.

About Ashcroft Diversified Bio-Oil Inc.

Ashcroft Diversified Bio-Oil Inc. is an oilseed processing company that is in the process of building a 600 metric tonnes (MT) per day commercial-scale mechanical canola seed crushing plant in Ashcroft, BC.

The Company is a Canadian start-up producer of crude bio-oil and high-quality canola meal, both of which can be utilized for a number of marketplaces including biofuel, additives, nutraceuticals and animal fodder. The canola seed crushing facility has an anticipated capacity to produce up to 38,000 MT of canola oil and nearly 56,000 MT of meal in year 1 and double the capacity as the operations are tested and staff is fully trained. The crushing operations are expected to commence in Q1 2012.

To learn more about Ashcroft Diversified Bio-Oil Inc., please visit our website: www.diversifiedbiooil.com

Media Contact: Andrew McKinnon, Ashcroft Diversified Bio-Oil Inc., 250453 0033, arm@diversifiedbiooil.com

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SOURCE Ashcroft Diversified Bio-Oil Inc.

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