BioNitrogen Corp.
PINKSHEETS : BION

BioNitrogen Corp.

April 18, 2012 07:00 ET

BioNitrogen Corp. (BION) Announces Advancement of Mr. Carlos A. Contreras to President & CEO and Member of the Board of Directors

Mr. Contreras, an Experienced Public Company Executive Replaces Dr. Terry R. Collins to Spearhead New Business and Public Company Growth

MIAMI, FLORIDA--(Marketwire - April 18, 2012) - BioNitrogen Corp. (PINKSHEETS:BION), developer of a revolutionary patent-pending technology for converting renewable and abundant biomass waste into high-nitrogen urea and urea fertilizer, is pleased to announce the appointment of Mr. Carlos A. Contreras as President & CEO and member of the Board of Directors.

Dr. Terry R. Collins stated, "It has been my pleasure serving as President & CEO of BioNitrogen to date. It is with great strides forward and looking to tomorrow that I have decided to hand over the reign to my good friend and colleague Mr. Contreras. I have tremendous faith in his ability, and that of our exceptionally talented team, to run the day-to-day affairs of the company. I make this decision in the best interest of myself, my family, my friends here at BioNitrogen, and most importantly our valued shareholders. Leadership in the public markets is critical, and I am confident that Mr. Contreras will provide exceptional profits and market share for our constituents. He has delivered in the past, and has the business experience to shepherd the company to the next level.

"I am looking forward to remaining, of course, an integral part of the Company. I am remaining as a member of the Board of Directors and will continue to be intimately involved as a member of the Technical Advisory Board and as the Chief Technical Advisor within the company and look forward to working closely again with the engineering teams as we rollout the Lubbock and Levelland plants.

"In truth, I am very excited and looking forward to focusing my time on areas on engineering, implementation and new research and development where time permits. I thank everyone for their support - my dear friends and colleagues and our valued shareholders. As I am fond of saying, come grow with us!"

As previously reported on February 6, 2012 Mr. Contreras started with BioNitrogen and was appointed President, International Operations.

Mr. Contreras will lead the senior executive team to grow BioNitrogen's considerable international business interests, administrate public company affairs, and work closely with governmental officials and international Fortune 500 businesses. A veteran professional with a proven track record and extensive executive management experience in the international business development arena and the public markets, his roles will include officer level responsibilities for policy development, negotiations, purchasing, operations, legal, safety and security, environmental, public company and government affairs.

Prior to joining BioNitrogen, Mr. Contreras served as the Bolivian Vice-minister of Energy and Hydrocarbons from 1999 - 2001. During his tenure he was a proponent for the development of five mega projects that would change the gas industry in Bolivia - Thermal Generation, LNG, GTL, Fertilizers and Petrochemistry.

Prior to his appointment to the government of Bolivia, Mr. Contreras held a number of senior executive positions for Occidental Oil and Gas Corp. During his 20 year career, Mr. Contreras served the following roles: President of Occidental Philippines; General Manager, Occidental Asia; Vice President, International Coordination, Occidental International Exploration and Production; Vice President, Corporate Affairs & Administration, Occidental de Colombia; VP International Coordination, Occidental International Exploration and Production, where he reported directly to the President of Occidental, and was responsibilities for assisting in the creation of new business opportunities, resulting in over $2 billion in net income to Occidental.

Mr. Contreras has been a Member of the Society of Petroleum Engineers, since 1970, a Member of the American Chamber of Commerce of the Philippines (serving as the Director for 8 years), and Chairman of the Energy Committee (and President for 2 consecutive years). Mr. Contreras was Elected Vice Chairman, Petroleum Association of the Philippines and served for 8 years. Further, he was a Member of the Bolivian American Chamber of Commerce and Chairman of its Committee on Energy Affairs.

Mr. Contreras has been honored with the "Celestino Mutis Medal", the highest award given by the Ministry of Health in Colombia and the first time granted to a foreigner, and in recognition for his contribution to the Philippines, was appointed "Philippines Investment & Trade Representative" on a worldwide basis.

Mr. Contreras is also the Founder and Vice President in charge of Operations, World's Children Transplant Fund, a Board Member of ACACIA Center for Women, and a Board Member of FCBC (Fundación para la Conservación del Bosque Chiquitano).

Mr. Contreras received his Chemical Engineering degree from the University of Tulsa, Oklahoma and then went on to perform graduate work in Macromolecular Science at the Case Western Reserve University, Cleveland, Ohio, and completed the Executive Program in Management from the University of California at Los Angeles (UCLA).

About BioNitrogen Corp. (PINKSHEETS:BION)

BioNitrogen Corp. is an American company focused on building fully operational, turnkey manufacturing facilities to produce urea. A white, crystalline solid containing 46% nitrogen, urea is principally used in the agricultural industry as a crop fertilizer. Crop production is intrinsically linked to increased food production requirements necessary to meet the population growth through 2050. Our innovative, patent-pending technologies transform residual abundant agricultural waste and other equally abundant biomass materials into high-quality bulk urea for sale to agricultural wholesalers and retailers. Modular in design and substantially smaller than traditional urea production plants, our facilities are capable of manufacturing 15 tons of urea fertilizer per hour for a total annual production of approximately 124,200 tons per plant while preserving and sustaining our precious environmental ecosystems in the process. BioNitrogen is headquartered in Miami, Florida, USA. BioNitrogen trades on the over-the-counter bulletin board under the stock symbol BION. Additional information can be found on BioNitrogen's website at www.BioNitrogen.com.

Safe Harbor Statement

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 - This press release contains forward-looking statements, including without limitation statements about the operations and future prospects for BioNitrogen Corp. (the "Company"). Forward-looking statements in this press release should not be viewed as pledges or undertakings regarding future performance. These forward-looking statements are subject to risks and uncertainties that could cause the Company's actual results to vary materially from those anticipated. The Company cautions the reader not to place too much reliance upon any such forward-looking statements, because such statements reflect the opinions and beliefs of the Company only as of the date when they were made. Factors that may cause actual results to differ materially from the forward-looking statements contained in this release include, among others, the following: (i) the Company's future operational, financial or marketing performance; (ii) the ability of the Company to bring new products to market that are complementary to the products that the Company currently produces; (iii) the ability of the Company to increase or maintain profit margins on the products it offers to the marketplace; (iv) the strength of the Company's product development pipeline; (v) the Company's growth and profitability prospects; (vi) the estimated size and growth prospects of the natural fertilizer market; (vii) the Company's competitive position in the natural fertilizer market and its ability to take advantage of future opportunities in this market; (viii) the benefits of the Company's products to be realized by customers; and (ix) the receptiveness of the agricultural and commercial market for bulk urea or other products that the Company manufactures. Forward-looking statements are based on management's beliefs and opinions at the time the statements are made. The Company does not have any obligation to update forward-looking statements should circumstances change or should management's beliefs or opinions change.

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