TUCSON, Ariz., June 19, 2012 /PRNewswire/ -- Sloud, Inc., (Pink Sheets: SLOU) announced today that the company has acquired Leone Asset Management, an asset management and mineral exploration company that operates in Freetown Sierra Leone. Consequently, Tony Khodadad will become the new President and CEO of Sloud. The new company will operate two subsidiaries, Leone Asset Management and Southwest BioFuels. Leone Asset Management currently has leases on several mining properties in Sierra Leone. Southwest BioFuels is currently developing algae based alternative fuel production technology in Tucson, AZ.
About Leone Asset Management
Leone Asset Management is a Freetown based Holding company that provides financial services and financial inclusion to the citizens of Sierra Leone. The company was built to offer wealth management services, financial services, and also intends to build out a nationwide network of Automated Teller Machines to provide increased access to capital and expand financial freedom. www.leoneasset.com
About SouthWest BioFuels
The SouthWest BioFuels team is currently working on a proprietary model for the rapid delivery of the high demand of algae through higher concentrations at their own algae farms. Most importantly, SouthWest BioFuels is providing biofuel units for people who wish to operate and own their own biofuel farm so that they can provide fuel for their own vehicles or equipment at a low cost with minimal time and maintenance commitment.
Forward-Looking Statements Disclosure
This press release may contain "forward-looking statements" within the meaning of the federal securities laws. In this context, forward-looking statements may address the Company's expected future business and financial performance, and often contain words such as "anticipates," "believes," "estimates," "expects," "intends," "plans," "seeks," "will," and other terms with similar meaning. These forward-looking statements by their nature address matters that are, to different degrees, uncertain. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can provide no assurances that these assumptions will prove to be correct. All forward-looking statements in this press release are expressly qualified by such cautionary statements, risks, and uncertainties, and by reference to the underlying assumptions.
SOURCE Sloud, Inc.