SOURCE: Soil Biogenics Limited

November 30, 2011 18:43 ET

Soil Biogenics Limited Announces Restructuring of Its Activities

MOSCOW--(Marketwire - Nov 30, 2011) - Soil Biogenics Limited (the "Company," "Soil Biogenics") (PINKSHEETS: SOBGF) is pleased to announce a strategic restructuring of its activities.

As a result of the economic crisis and budget restrictions in the public sector of Russia, the Company has decided to sell its Russian subsidiary PIKSA INTER to ROSSINVEST LLC. The Buyer will assume all debts of the Russian subsidiary.

The Company's activities in the Russian Federation have been discontinued due to the economic crisis that has affected the local market for soil regeneration products. The Company has therefore decided to take this measure in order to not incur losses. Once the Russian elections are over and new budgets announced, the Company plans to re-enter the Russian market, where it has proved to deliver a modern product, which was widely accepted by the communities.

Soil Biogenics holds the worldwide patents for the regeneration of soils in its 100% owned Bermuda subsidiary, Soil Biogenics Ltd. The Company will study alternatives for application of its ecological products in other countries.

Soil Biogenics has decided to diversify its activities and is looking for new opportunities related to soils and fertilizers. The Company has decided to look for potash opportunities in Western Africa. The first step is planned for Gabon, a West African country, which is known for its advanced oil industry.

Accordingly, Soil Biogenics Ltd. has taken the necessary steps to incorporate a new subsidiary in the Republic of Gabon, where it has started the process of applying for licenses in an area which is known for its potash potential.

The company wants to benefit from the growing demand for fertilizers in the agro industry all over the world. Soil Biogenics plans to use its experience in soil regeneration and fertilizers through its highly professional team to offer to the market solutions for the growing demand for fertile soils, where ecological aspects would be implemented.

ON BEHALF OF THE BOARD

"Agustin Gomez de Segura"
Agustín Gomez de Segura
President, CEO and Director

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This press release contains statements that plan for or anticipate the future, called "forward-looking statements." In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of those terms and other comparable terminology.

These forward-looking statements appear in a number of places in this press release and include, but are not limited to, statements about: our market opportunity; revenue generation; our strategies; competition; expected activities and expenditures as we pursue our business plan; the adequacy of our available cash resources; our ability to acquire properties on commercially viable terms; challenges to our title to our properties; operating or technical difficulties in connection with our exploration and development activities; currency fluctuations; fluctuating market prices for precious and base metals; the speculative nature of precious and base metals exploration and development activities; environmental risks and hazards; governmental regulations; and conduct of operations in politically and economically less developed areas of the world.

Many of these contingencies and uncertainties can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Forward-looking statements are not guarantees of future performance. All of the forward-looking statements made in this press release are qualified by these cautionary statements. Specific reference is made to our most recent annual report on Form 20F and other filings made by us with the United States Securities and Exchange Commission for more detailed discussions of the contingencies and uncertainties enumerated above and the factors underlying the forward-looking statements. These reports and filings may be inspected and copied at the Public Reference Room maintained by the U.S. Securities and Exchange Commission at 100 F Street, N.E., Washington, D.C. 20549. You can obtain information about operation of the Public Reference Room by calling the U.S. Securities and Exchange Commission at 1-800-SEC-0330. The U.S. Securities and Exchange Commission also maintains an Internet site that contains reports, proxy and information statements, and other information regarding issuers that file electronically with the U.S. Securities and Exchange Commission at http://www.sec.gov.

We disclaim any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except to the extent required by applicable laws.

This press release is for informational purposes only and is not and should not be construed as an offer to solicit, buy, or sell any security.

Contact Information

  • For further information, please call
    Agustin Gomez de Segura
    Phone: (+34) 916504734