WILMINGTON, Del. and OTTAWA, March 31, 2014 (GLOBE NEWSWIRE) -- Purthanol Resources Ltd (OTCQB:PURT) is pleased to announce that it has concluded the negotiations with Dorax Investment Company Ltd to finance the acquisition of sixty (60) ethanol modules for a total of $39 million dollars. The first module will arrive in Richmond Quebec at the Biocardel site between April and May 2014. This first installation will be considered "a first in kind" window of technology in Canada. This will demonstrate the uniqueness of the Purthanol Process. The Purthanol Process is distinct in its ability to increase the production quantity of ethanol from the sorghum plant. Thirty (30) days later nine (9) additional modules will be installed in various locations in Quebec as an industrial prototype platform, both levels of Government are aware of Purthanol's and Biocardel ambitious project.
The realization of this project and financing in Purthanol goes to the merit of Crimson Capital, a Montreal-based boutique consulting firm specializing in asset-based debt financing. "Purthanol is one step closer to producing a minimum of 15 Million liters of ethanol and 40 million liters of Biodiesel in Quebec, this will make us a unique Biofuel Company," said Mr. Rene Delarue, President of Biocardel Quebec, a subsidiary of Purthanol Resources Ltd.
About Purthanol Resources Ltd
Purthanol is a publicly traded company dedicated to investigating and developing green-technology fuel products. The production technology is based on the acquisition of the Purthanol Process for the ethanol product and Biocardel for the Biodiesel. Please visit www.purthanol.com for more information.
Other than statements of historical fact, included herein, all statements are forward-looking and involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results may differ materially from Purthanol expectations and filings made with the securities regulators. The Company does not assume any obligation to update or revise its forward-looking statements. No stock exchange, securities commission or other regulatory authority has approved or disapproved this information.
CONTACT: Mr. Serge Mersilian Director of Communications Purthanol Resources Ltd Tel: 302 288 0658
Source:Purthanol Resources Ltd