SOURCE: Perihelion Global

April 15, 2008 13:24 ET

Perihelion Global Announces Updates for Opp, Alabama Biofuel Refinery, Other Corporate Matters

WILMINGTON, DE and SANTA ROSA BEACH, FL--(Marketwire - April 15, 2008) - Perihelion Global (PINKSHEETS: PHGI), a development company with interests in natural resources, alternative energies, and advanced communications, today announced updates on Phase One of the company's Opp, Alabama Biofuel Refinery.

The City of Opp, Alabama has now successfully brought 3 Phase electrical power to the company's property located in the Opp Industrial Park. The City of Opp is expected to complete installation of the 3 Phase electrical power required for operation to the multi-feedstock refinery building this week. Perihelion has completed the necessary electrical wiring inside the refinery building to begin operation.

Additionally, under the company's Hazardous Materials (HAZMAT) Security Plan construction of a 5-acre perimeter security fence for HAZMAT compliance is expected to be completed this week.

On Saturday, April 12, 2008 the company received a legal court summons via Certified Mail regarding a billing dispute with its previous legal counsel, Burr & Forman. Burr & Forman performed the due diligence and merger with Vision Works Media Group, Inc.; the due diligence and acquisition of the patented Gold Mine from Saturday Night, LLC; and due diligence of the private investment from Icarus Investments and other items. The Company informed Burr & Forman of its concerns regarding billing and services rendered in 2007. Perihelion has confirmed with its bank that the alleged disputed payment to Burr & Forman has cleared the Company bank account. The Company disagrees with Burr & Forman's position and will seek an amiable resolution to the dispute.

About Perihelion Global:

Perihelion Global focuses on the acquisition, development and management of technologies, strategic commodity reserves and assets in the energy, natural resource and communications markets. Perihelion's management team specializes in providing solutions for the strategic challenges of 21st Century. We lead with decades of experience in environments that are mission critical in today's global marketplace: Technology, Energy and Communications.

Website: http://www.perihelionglobal.com

Caution Regarding Forward-Looking Statements

This press release contains historical information as well as forward-looking statements that are based upon our estimates and anticipation of future events that are subject to certain risks and uncertainties that could cause actual results to vary materially from the expected results described in the forward-looking statements. The words "anticipate," "believe," "estimate," "expect," "hopeful," "intend," "may," "optimistic," "preliminary," "project," "should," "will," and similar expressions are intended to identify these forward-looking statements. There are numerous important factors that could cause our actual results to differ materially from those in the forward-looking statements. Thus, sentences and phrases that we use to convey our view of future events and trends are expressly designated as Forward-Looking Statements as are sections of this news release clearly identified as giving our outlook on future business.

These forward-looking statements are subject to significant risks, assumptions and uncertainties, including, among other things, the following important factors that could affect the actual outcome of future events:

-- General economic conditions, either nationally or in our market area, that are worse than expected;

-- regulatory and legislative actions or decisions that adversely affect our business plans or operations;

-- price competition;

-- inflation and changes in the securities markets that adversely affect the fair value of our operations; and

-- changes in our organization, compensation and benefit plans.

We wish to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made, and wish to advise readers that the factors listed above could affect our financial performance and could cause actual results for future periods to differ materially from any opinions or statements expressed with respect to future periods in any current statements. We do not undertake and specifically decline any obligation to publicly release the result of any revisions that may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

Contact Information

  • Contacts:

    John H. Beebe
    Chairman, Chief Executive Officer & President
    866-748-7610 (Toll Free)