SOURCE: Clean Power Concepts Inc.

January 30, 2015 08:00 ET

Clean Power Concepts Moves to Hold Chongqing Grain Group Legally Accountable for Contract Breach Announces Litigation

CALGARY, AB--(Marketwired - Jan 30, 2015) - Clean Power Concepts Inc. (OTC PINK: CPOW) today announced that it has taken steps to liquidate the joint venture in accordance with the agreement established between Clean Power Concepts Inc. and Chongqing Grain Group. As part of that process we have issued a statement of claim in Canada against Chongqing Grain Group for damages. It is our allegation that their negligence, abandonment and breaches of numerous points of the joint venture agreement "the contract" caused irreparable and substantial financial harm to the company and the shareholders of Clean Power Concepts Inc.

Clean Power CEO, Michael Shenher, explains; "Their breaches in this matter have been extremely costly; in terms of expenditures, lost revenue, lost profit, and lost technology licensing fees. The lost market capitalization, share value, and the opportunity costs are almost incalculable but we expect to prove damages in the $70-$100 Million USD range in court. When Chinese state owned enterprises come to do business in North America and contract with US public companies, like Clean Power with over 15000 shareholders, they must be held accountable according to North American rule of law. We are looking to the Chinese government to help us resolve this dispute with their state owned enterprise or companies worldwide will think twice before doing business with them," said Shenher. "We intend to allow the court process to proceed at its own pace, but we are committed to moving CPOW ahead and I look forward to sharing my vision for the future of CPOW in short order," added Shenher.

About Clean Power Concepts, Inc.
Clean Power Concepts Inc. was founded by Michael Shenher as "Canadian Green Fuels" in 2006 with the goal of producing renewable, high quality, plant oil based products for the industrial and consumer markets around the world. Clean Power Concepts has always been active in finding beneficial, new, environmentally responsible, and sustainable energy resources with promising sustainable growth. More recently, the Company has begun development of a slate of health and beauty products featuring hemp oil for both commercial and personal usage through its Spirit of Health division, a wholesale and consumer-facing brand founded in 2010. Spirit of Health is further developing its suite of extremely beneficial essential oils and natural health and beauty supplements for near term consumer market placement. Clean Power Concepts produces the finest and most eco-friendly lubricants, diesel fuel conditioner. For more information, please go to www.cleanpowerconcepts.com.

Forward-Looking Statements
Certain information contained in this press release, including any information as to our strategy, plans, or future financial or operating performance and other statements that express management's expectations or estimates of future performance, constitute forward-looking statements. All statements, other than statements of historical fact, are forward-looking statements. The words "believe," "expect," "will," "anticipate," "contemplate," "target," "plan," "continue," "budget," "may," "intend," "estimate," "project" and similar expressions identify forward-looking statements. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain cost adjustments and/or delays beyond the company's control with respect to bio energy manufacturing operations, changes in the worldwide price of agricultural commodities, crude oil, and/or certain other commodities; regulatory, legislative, political or economic developments in the jurisdictions in which the Company carries on business; operating or technical difficulties in connection with bio energy manufacturing operations or development activities; employee relations; transportation logistics; and the unpredictability of risks involved in the newly developing bio energy industry. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.

Contact Information

  • Michael Shenher
    239-234-4377