Organic Recycling Technologies Announces Major Waste Contracts in China with Foshan Public Utility Management
June 16, 2005 (Press Release) --
June 16, 2005 – Burnaby, BC – EAPI Entertainment, Inc. (OTC BB: EPEI) is pleased to announce that the Company and its wholly owned subsidiary Organic Recycling Technologies, Ltd. (“Organic Recycling”) and Foshan Public Utility Management are entering into an agreement to construct and operate a waste disposal facility in the Foshan region of Guangdong Province.
Foshan Public Utility Management is the government agency in the city in charge of all utilities including waste. This agreement is directly with the government source ensuring a secure contract and access to proper channels in China.
Because Foshan Public Utility Management is in charge of all the waste in the region, they will supply the land for the project site, all the required permits to build the facility and a guaranteed waste supply to the project. Foshan Public Utility Management will also ensure un-interrupted sales activity and no restrictions on the future sale of the constructed waste facility.
Organic Recycling now has a guaranteed waste contract from Foshan Public Utility Management for 25-years with a guaranteed supply of 1000 tonnes of waste per day. This portion of the contract alone will exceed US$100 million for Organic Recycling. This contract is on a put or pay basis, enabling Organic Recycling to be guaranteed the full contract value even if the full amount of waste is not delivered.
The private sector constitutes the most vibrant component of Foshan's economy, making up the largest share of and contributing most to the local economy. In terms of GDP, the private sector currently accounts for over 40% of Foshan’s total. Organic Recycling venture will join a number of large non-government owned enterprises with significant market shares in the city. The enormous market is now being developed by Organic Recycling and the rest of China holds incredible and untold opportunities for Organic Recycling.
Forward-Looking and Cautionary Statements:
Certain statements contained herein, including, without limitation, statements containing the words “believes”, “intends” and other words of similar import, constitute “forward-looking statements” within the meaning of Section 27A of Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of EAPI Entertainment, Inc. to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. EAPI Entertainment, Inc. disclaims any obligation to update or to announce publicly the results of any revision of the forward-looking statements contained or incorporated by reference herein to reflect future events or developments
On behalf of the Board of Directors of: EAPI Entertainment, Inc.
“Ralph Petruzzo”
Ralph Petruzzo, President
Foshan Public Utility Management is the government agency in the city in charge of all utilities including waste. This agreement is directly with the government source ensuring a secure contract and access to proper channels in China.
Because Foshan Public Utility Management is in charge of all the waste in the region, they will supply the land for the project site, all the required permits to build the facility and a guaranteed waste supply to the project. Foshan Public Utility Management will also ensure un-interrupted sales activity and no restrictions on the future sale of the constructed waste facility.
Organic Recycling now has a guaranteed waste contract from Foshan Public Utility Management for 25-years with a guaranteed supply of 1000 tonnes of waste per day. This portion of the contract alone will exceed US$100 million for Organic Recycling. This contract is on a put or pay basis, enabling Organic Recycling to be guaranteed the full contract value even if the full amount of waste is not delivered.
The private sector constitutes the most vibrant component of Foshan's economy, making up the largest share of and contributing most to the local economy. In terms of GDP, the private sector currently accounts for over 40% of Foshan’s total. Organic Recycling venture will join a number of large non-government owned enterprises with significant market shares in the city. The enormous market is now being developed by Organic Recycling and the rest of China holds incredible and untold opportunities for Organic Recycling.
Forward-Looking and Cautionary Statements:
Certain statements contained herein, including, without limitation, statements containing the words “believes”, “intends” and other words of similar import, constitute “forward-looking statements” within the meaning of Section 27A of Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of EAPI Entertainment, Inc. to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. EAPI Entertainment, Inc. disclaims any obligation to update or to announce publicly the results of any revision of the forward-looking statements contained or incorporated by reference herein to reflect future events or developments
On behalf of the Board of Directors of: EAPI Entertainment, Inc.
“Ralph Petruzzo”
Ralph Petruzzo, President
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