LEONE ASSET MANAGEMENT, INC. LARGO, FL, Nov. 19, 2020 (GLOBE NEWSWIRE) -- via NewMediaWire -- Today, Leone Asset Management (OTC PINK: LEON) Subsidiary JP Anderson, Ltd. announced that they have entered into a Memorandum of Understanding (MOU) with Ken Davidson Agricultural Development and Construction Company, Ltd., in Sierra Leone, West Africa.
The MOU agreement between the two parties is to undertake the business of quarrying, leading to the crushing of stone for infrastructure development in Sierra Leone and other countries in West Africa. JP Anderson will be operating a 65-acre quarry location near the Capitol City of Freetown in Sierra Leone. The quarry location has well in excess of one billion US dollars in crushable stone and the agreement is in place for 25 years. The parties anticipate to begin operation in the first quarter of 2021.
James Price, Chairman and CEO of Leone Asset, stated, “This is an extraordinary opportunity for Leone Asset. The country of Sierra Leone is going through tremendous infrastructure development with constant growth of road and bridge construction as well as a new airport and a six mile long bridge from the Lungi airport into Freetown.
We anticipate to begin operations with a 350 ton per hour crushing plant and operating six days per week with two eight hour shifts daily.
This opportunity and corporate expansion will add tremendous share-holder value and will allow Leone Asset to participate with Sierra Leone and other sub-sahara countries with some of the World’s largest infrastructure development over the next fifty years.”
About Leone Asset Management
Leone Asset Management, Inc., is a multi-national, multi-industry conglomerate with subsidiary companies that operate in Health and Wellness, Media & Communications, Infrastructure development, agriculture management and mining exploration. For additional information, please visit www.leoneasset.com.
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," "beliefs," "estimates," "expects," "intends," " plans," "seeks," "will," and other terms with similar meaning. These forward-looking statements by their nature address matter that are, to different degrees, uncertain. Although the Company believes that the assumptions upon which its forward-looking statements 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, risk, and uncertainties, and by reference to the underlying assumptions.
Contact:
James Price
JPrice@LeoneAsset.com
727-581-1500
