WSNA & MPR: Southridge Enterprises Signs Letter of Intent to Acquire Ethanol Plant in Brazil!

Today’s Major Breaking News
On Tuesday, October 7th
Southridge Enterprises Signs Letter of Intent to
Acquire Ethanol Plant in Brazil!

There is important breaking news coming from Southridge Enterprises, Inc. (OTCBB: SRDG), investors are urged to continue monitor the stock closely this morning!Yesterday after the markets closed, t he company issued a press release announcing that Southridge Ethanol, Inc., its wholly owned subsidiary, has signed a letter of intent (“LOI”) to acquire ethanol plant from Bronsiacco Industrial Ltd.

More great news for SRDG! “The opportunity to acquire this plant has given Southridge a tremendous advantage to be a large producer of ethanol in Brazil . By purchasing an existing plant, we will be able to produce 50 million gallons per year (MMGY) by May 10, 2009. With this asset on our balance sheet, we have once again shown our ability to build shareholder value,” stated Ken Milken, President of Southridge Ethanol, Inc.

To close this acquisition, Southridge will use the proceeds of an equity financing from an Asian-based investment transaction nearing completion. The purchase is expected to close in 30 days, subject to certain conditions, including but not limited to completion of satisfactory due diligence by the Company, the negotiation and completion of a definitive acquisition agreement, approval of the Company and Bronsiacco Industrial Ltd. boards of directors and other customary conditions.

Investors are urged to continue to monitor the progress of the company!

For more information and discalimers click the Banner above or click below.