GROVELAND, Fla., Feb. 8, 2012 /PRNewswire/ -- Eco Ventures Group, Inc. (OTCBB: EVGI) announced today that it has a production update regarding its Blanket Purchase Order from Agri Liquid Products of Sandy Hook, Mississippi. The purchase order agrees to purchase all of EVGI's initial 3.6 million gallon per year production for 120 days following the plants first fuel production. The purchase order is for ASTM Fuel only and EVGI must now begin production by April 1, 2012. EVGI is in the process of completing its bio fuel production facility in Groveland, Florida. ASTM Fuel is currently selling at an average price of $3.35 per gallon. At current market prices, the purchase order is valued at approximately $12 million dollars.
"This is an important purchase order for EVGI and we expect production to begin in early Q2. This confirms our commitment to the bio fuel market and its continued expansion," said Randall Lanham, CEO of Eco Ventures Group.
About Eco Ventures Group, Inc.
Eco Ventures Group, Inc. ("EVGI") is a family of ecologically friendly and economically sound businesses committed to providing for society's minerals, energy and renewable resource needs.
EVGI concentrates on two core business activities. EVGI's Eco Minerals Recovery Group specializes in the extraction of precious metals from ore bodies and reclaimed mine tailings and Eco Energy Group will focus on the production of advanced biodiesel from recovered cooking oils and oil rich plants.
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: EVGI encourages those interested in our Company to rely only on information included in our filings with the United States Securities and Exchange Commission which can be found at www.sec.gov. Statements released by Eco Ventures Group, Inc. that are not purely historical are forward-looking within the meaning of the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the company's expectations, hopes, intentions, and strategies for the future. Investors are cautioned that forward-looking statements involve risk and uncertainties that may affect the company's business prospects and performance. The company's actual results could differ materially from those in such forward-looking statements. Risk factors include but are not limited to general economic, competitive, governmental, and technological factors as discussed in the company's filings with the SEC on Forms 10-K, 10-Q, and 8-K. The company does not undertake any responsibility to update the forward-looking statements contained in this release.
SOURCE Eco Ventures Group, Inc.