PGI Energy

November 18, 2011 12:41 ET

PGI Energy, Inc., Pythagoras Group, Inc., and River Gee County, in Liberia Announce Execution of Memorandum of Understanding

HOUSTON, TX--(Marketwire - Nov 18, 2011) - PGI Energy, Inc. (PINKSHEETS: PGIE) -- River Gee County in the Republic through its Economic and Business Development Trust (GEE TRUST Inc.) joins PGI Energy, Inc., and Pythagoras Group, Inc. to announce the formation of an agreement to contribute in developing the County's s infrastructure through humanitarian and economic processes. The agreement between the parties is committed to negotiating and acquiring required Licenses and Permits from the Liberian Government and Private Owners of natural economic assets in the County including Land/Agriculture, Food Production Potentials, Tree Crop, Mining, Gold, Rough Diamond, Iron Ore, Natural Gas, Forestry, Timber, Oil, Energy, etc., for the purpose of forming Equity Sharing Joint Ventures with the County and its Citizens in developing these resources to engage in trading, marketing, selling and exchanging for profit making and mutual benefits which will support the "River Gee County Family Wealth Creation Strategy program."

PGI Energy, Inc. expects to support the efforts of GEE TRUST Inc. in negotiating required Licenses and Permits from the Liberian Government and Private Owners and that said Licenses and Permits shall be awarded to PGI Energy Inc., who shall provide needed Investment Capital and Professional expertise for the development and marketing of such resources as mentioned above under the investment Laws of Liberia toward profit making and mutual benefits.

With such Licenses and Permits from the Liberian Government and Private Owners, and the development of such resources, PGI Energy, Inc.'s subsidiary company, PGI Energy Trading, Inc., expects to trade the County's developed, mined, explored and/or unearthed commodities with international buyers. The proceeds of those transactions, partially, will be administered by the Joint Venture for the payment of housing development acceptable to the Liberia Party through U.S. modular housing companies introduced by Pythagoras Group, Inc. and the Liberian experience.

Additionally, the Parties are excited to announce the introduction of water filtration systems offered by a PGI Energy, Inc., joint venture partner as initial projects to River Gee County and the region.

Pythagoras Group, Inc. expects to secure funding from hedge funds already invested and committed to funding infrastructure projects in Liberia. These hedge funds finance infrastructure projects through guarantees secured against goods and commodities available for trade, sell or export.

The Parties acknowledge the tremendous milestone in the history of Liberia as a result of Liberia's President, Ellen Johnson Sir leaf, jointly winning the Nobel Peace Prize. The Parties intend to honor President Sir leaf and the Country of Liberia by committing to economic development and modernizing infrastructure for the people of Liberia.

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