El Tigre Development (Pink Sheets:ETIG), (soon to be MacGregor Energy Inc)., announces the signing of an agreement with Artemis Capital Group, LLC, a New York specialty investment banking concern to provide all required financing for the 100 Internal Hydro (IHDR) Commander IV Generators that were purchased by the company. This is in addition to the previous investment of $7,200,000 that is earmarked for the construction of an EarthFirst Technologies (EFTI) Catalytic Vacuum Distillation Reactor to initially produce carbon polymer from scrap tires.
To summarize recent news that outlines the exciting activities of El Tigre Development:
ETIG -- MacGregor Energy -- Signs Agreement with EarthFirst Technologies -- EFTI -- to License Technology and to Build up to 3 Plants Nov 23 2004 -- announced the signing of an agreement to license EarthFirst's CAVD (Catalytic Activated Vacuum Distillation) technology to produce Carbon Polymer from any carbon-based material. Included in the license agreement was a commitment to build one plant and an option to build two additional facilities featuring this technology. The Catalytic Vacuum Distillation Reactor (CAVD) has been proven to effectively recycle rubber tires and produce oils and gases, which can be used to generate electricity. The process "un-manufactures" a scrap tire, creating products similar to the materials that went into the original tire: carbon, steel, oils, and gases. In a report entitled "Carbonized Polymer Test Results" dated September 28, 2004, EarthFirst Technologies, Inc. ("EFTI" or "the Company") (OTCBB:EFTI) published the test results of incorporating carbon produced by its Catalytic Activated Vacuum Distillation (CAVD) plant into a polyurethane matrix. Dr. Robert B. Turner and Thomas M. Kurth provided their results after completing extensive tests and analytical work. The CAVD plant converts a waste product, rubber tire chips, into usable forms of energy, of which carbon is the largest component.
IHDR and ETIG -- MacGregor Energy -- Agreement Calls for Asian Foreign Partnership Rights and Financing Nov 22 2004 -- Internal Hydro International Inc., (OTCBB:IHDR) and El Tigre Development (Pink Sheets:ETIG), soon to be MacGregor Energy Inc., jointly announces that the agreement to purchase 100 units from IHDR also includes a separate provision for the right of ETIG / MacGregor to emplace units in Idaho and Asia on an exclusive basis for all natural and man made flows upon certain financing being made available to IHDR. The financing portion of this segment of the agreement will be announced later. All portions of the agreement call for revenue sharing between ETIG / MacGregor and IHDR from all units built or provided under the agreement.
IHDR and ETIG / MacGregor's agreement provides for the initial purchase of 100 Energy Commander Units with a total unit purchase price of $2,250,000.00 for those units alone. The first ten units will be provided by IHDR for $500,000.00 with a sliding scale on unit price as production beyond IHDR's Phase II operation occurs. MacGregor will be assisted in placing the first ten units with locations where units have already been requested from IHDR. ETIG / MacGregor anticipates placement of approximately 500 Energy Commander units in the next two years according to ETIG President Bob Schneiderman. Bob went on to say, "With the many opportunities currently available to us we feel we can fulfill our business plan objective to quickly become a worldwide leader in the production of clean inexpensive renewable energy."
El Tigre Development Inc. Shareholders Approve Change in Company Name to MacGregor Energy Inc. Nov 10 2004 -- El Tigre Development Inc. (Pink Sheets:ETIG) announced Board approval to change the Company name to MacGregor Energy to best reflect the new corporate direction. The Directors of El Tigre Development authorize the change of direction from a development company to "clean renewable energy" provider. The Company intends to change its name as soon as realistically feasible to reflect the new direction.
El Tigre Development Inc. Shareholders Approve Change in Corporate Direction, Management and Company Name Nov 8 2004 -- El Tigre Development Inc. (Pink Sheets:ETIG) announced shareholder approval to change company direction, management and approve corporate name change to best reflect the new corporate direction.
El Tigre Development (soon to be MacGregor Energy) is engaged in research, development and commercialization of technologies for the production of alternative sources of fuel and the destruction and/or remediation of liquid and solid waste. The goal is to establish the Company as a major alternative energy source and leading commercial provider of environmental solutions.
Artemis Capital, LLC is a New York investment banking concern dedicated to providing comprehensive client service to individuals and institutions alike, presenting a reliable, high-quality alternative to impassive financial servicing and a cost-effective vehicle for business development.
Forward-Looking Statements: This release contains forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Expressions of future goals and similar expressions reflecting something other than historical fact are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. These forward-looking statements involve a number of risks and uncertainties, including the timely development and market acceptance of products and technologies, successful integration of acquisitions, the ability to secure additional sources of financing, the ability to reduce operating expenses and other factors. The actual results that the company achieves may differ materially from any forward-looking statements due to such risks and uncertainties. The company undertakes no obligations to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.