NEW YORK, Sept. 12, 2011 /PRNewswire/ -- New Bastion Development ("New Bastion") (PINKSHEETS: NWBA), announced today that it has engaged New York-based Rubenstein Investor Relations (RIR) to represent the Company for its shareholder communications campaign.
"As we enter a new phase of our company's strategic growth, we are pleased to be working with Rubenstein to expand our shareholder and investment community communications program. This relationship with Rubenstein Investor Relations brings an extraordinary new resource to our team. We look forward to the opportunity to get our story out to the investment community," said Elliot Bellen, CEO, New Bastion.
Rubenstein Investor Relations will focus on enhancing the Company's current investor communications program through continual interaction with the investment community while expanding outreach to institutional investors. RIR has established an excellent track record of aligning companies with the appropriate financial audiences.
On May 25, 2011, NB Regeneration, a wholly-owned subsidiary of New Bastion, entered into a Memorandum of Understanding with United Advisory, a Panamanian Company, to build and operate a nitrogen fertilizer facility in the Free Trade Zone in the Republic of Panama.
The facility will produce a minimum of 4,000 metric tons of urea and/or ammonia on a daily basis. Pursuant to the agreement NB Regeneration will arrange for debt financing for the facility, supervise the development of construction, contract for feedstock and raw materials, market and sell products from the operation of the facility, and will manage its day to day operation upon completion. United Advisory will undertake to provide the Outer Battery Limits which shall include the following: site for the facility, dock facilities, loading and unloading facilities for raw materials and product, obtain all necessary approvals, licenses and permits necessary for the construction and operation of the facility, and it is estimated that this contribution will be $400 million USD.
"New Bastion is at the forefront of an exciting opportunity in a business sector that has rapidly expanding global needs. Coupling the demand with the opportunity to construct a world class fertilizer facility in the free trade of the Republic of Panama results in a compelling story for Wall Street," said Richard Rubenstein, President of Rubenstein Investor Relations. "We believe that New Bastion is uniquely positioned to capitalize on this growing market sector. We look forward to executing our plan to introduce New Bastion to a broad base of institutions within the financial community during this important stage of the Company's growth."
About Rubenstein Investor Relations
Rubenstein Investor Relations specializes in introducing and positioning small- and mid-cap companies to appropriate communities of investors. The Company focuses on facilitating and developing strong and lasting investment banking relations, building institutional support, and improving clients' overall investor relations strategies.
About New Bastion Development, Inc.
New Bastion (www.newbastiondevelopment.com) is a development stage company that has been involved in real estate and real estate development in Northwest Florida for the past 3 years based upon expectations that the opening of the new airport would attract visitors and potential new residents from all parts of the U.S., Canada and Europe, as well as new commercial development and investment. Additionally, it has formed NB Regeneration, a wholly-owned subsidiary, to pursue business opportunities relative to the production of nitrogen fertilizers used in the global agricultural market.
The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements made on behalf of the Company and its subsidiaries. All such forward-looking statements are, by necessity, only estimates of future results and actual results achieved by the Company may differ materially from these statements due to any number of factors, including, but not limited to the ability to obtain environmental and other permits and the timing thereof, foreign government regulation or action, the ability to obtain approvals from third parties and negotiate agreements with third parties on mutually acceptable terms, international operations and associated international political and economic instability, litigation, the costs and results of building and operations, availability of equipment, services and personnel required to complete the facilities, the ability to implement business plans or complete development activities as scheduled, access to and cost of capital, the financial strength of our counterparties, environmental and weather risks, including the possible impacts of climate change, and acts of war or terrorism. Any forward-looking statements speak only as of the date made. Statements made in this document that are not purely historical are forward-looking statements, including any statements as to beliefs, plans, expectations, or intentions regarding the future. The Company assumes no obligations to update these forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting such statements. Potential investors should independently investigate and fully understand all risks before making investment decisions.
Investor Relations Contact:
Rubenstein Investor Relations
SOURCE New Bastion Development, Inc.