ABBOTSFORD, BC / ACCESSWIRE / July 22, 2014 / Biomass Secure Power Inc. (OTC:PINK: BMSPF) (the "Company") is pleased to announce that on July 21, 2014 the Board of Directors of the Natchitoches Parish Port Commission ("Port Commission") has approved the Notice of Intent to lease the Company 75 acres within the confines of the port. Under state regulations the Port Commission is required to advertise the Notice of Intent twice in the local newspaper. The advertisement is scheduled for July 24, 2014 and July 31, 2014. The Port Commission board will next meet on August 18, 2014 at which time they will consider for approval a resolution to enter into the lease. Company management expect to execute the lease agreement on or about August 25, 2014.
The notice to be advertised is shown below:
NOTICE OF INTENT TO LEASE PROPERTY
PURSUANT TO LA. R.S. 33:4717.2
The Natchitoches Parish Port Commission ("Port Commission") hereby gives notice of its intention, pursuant to La. R.S. 33:4717.2, to enter into a lease on August 29, 2014, with Biomass Power Louisiana, L.L.C. at the Natchitoches Parish Port site in Natchitoches Parish, Louisiana. In keeping with the requirements of La. R.S. 33:4717.2, the Port Commission offers the following information regarding the proposed lease:
1) The Port Commission will lease a site at the Natchitoches Parish Port to Biomass Power Louisiana, L.L.C. for an industrial site. The initial term of the lease will be for a term of thirty years, with an option that would have a term of fifteen years.
2) The property to be leased is a tract of land comprising approximately 75 acres, more or less, and being more particularly described as follows:
A certain piece, parcel or tract of land located in Section 41, Township 10 North, Range 7 West, Natchitoches Parish, Louisiana, containing 75.00 acres, more or less, being more fully shown on a survey by Robert Lynn Davis, Professional Land Surveyor, dated May 23, 2014, and being more fully described as follows:
Begin at the corner common to Sections 41, 42 and 81, Township 10 North, Range 7 West, Natchitoches Parish, Louisiana, marked by 1/2" iron rod, and run thence South 79°00'00" West a distance of 2,082.80 feet to a 1/2" iron rod; thence, run North 41°16'27" West a distance of 629.49 feet to a 1/2" iron rod located 50 feet from the easterly right of way of Louisiana Highway 486; thence, run North 15°56'15" East a distance of 584.49 feet along a line parallel to the easterly right of way of Louisiana Highway 486 to a 1/2" iron rod at the point of curvature of a curve to the left located 50 feet from the easterly right of way of Louisiana Highway 486; thence, run along the arc of a curve to the left parallel to the easterly right of way of Louisiana Highway 486 a distance of 271.42 feet, said curve having a radius of 1,111.21 feet and a chord of North 8°56'24" East 270.74 feet to a 1/2" iron rod located 50 feet from the easterly right of way of Louisiana Highway 486; thence, run North 79°00'00" East a distance of 2,002.65 feet to a 1/2" iron rod; thence, run South 41°02'52" East a distance of 1,162.16 feet to a 1/2" iron rod; thence, run South 48°57'08" West a distance of 625.61 feet to the point of beginning.
3) As consideration for the proposed lease, Biomass Power Louisiana, L.L.C. shall pay the Port Commission a base rent of $12,500.00 per month for the leased premises. Biomass Power Louisiana, L.L.C. shall also pay throughput fees in the amount of $0.85 per ton for the first 551,150 tons, and $0.50 per ton for any tonnage over 551,150 tons, during the first full year of operation with a guaranteed minimum tonnage of 551,150 tons. During subsequent years Biomass Power Louisiana, L.L.C. shall pay throughput fees in the amount of $0.85 per ton for the first 826,725 tons, and $0.50 per ton for any tonnage over 826,725 tons with a guaranteed minimum annual tonnage of 826,725 tons. Additionally, the project will bestow a significant economic impact on Natchitoches Parish and surrounding parishes and will necessarily result in the creation of a significant number of additional jobs in the area.
4) A copy of the above-referenced lease is on file for public inspection during regular business hours in the office of the Port Commission, 5690 Highway 486, Building 1, Campti, Louisiana 71411.
5) The appraised value of the property to be leased to Biomass Power Louisiana, L.L.C., as determined on April 7, 2014, by a real estate appraisal is One Hundred Sixty Thousand and 00/100 ($160,000.00) Dollars.
6) Any objection to the foregoing proposed transfer will be received by Robert E. L. Breedlove, Jr., Executive Director of the Natchitoches Parish Port Commission, on the 5th day of August, 2014, at 10:00 o'clock a.m. at the offices of the Port Commission, 5690 Highway 486, Building 1, Campti, Louisiana 71411.
About the Company
Biomass Secure Power Inc. is incorporated in the Province of British Columbia. The Company's Business Plan is based upon the construction of a pellet plant and chipping facility at the Port of Natchitoches, Louisiana. Phase one of the Plant consists of three production lines capable of producing over 1,000,000 tonnes of pellets per year.Public filings and financial information on the Company can be found at: www.sedar.com.
Safe Harbour Statement:
This information includes certain "forward-looking statements." The forward-looking statements reflect the beliefs, expectations, objectives and goals of the Company management with respect to future events and financial performance. They are based on assumptions and estimates, which are believed reasonable at the time such statements are made. However, actual results could differ materially from anticipated results.
On Behalf of the Board,
BIOMASS SECURE POWER INC.
President and CEO
Contact: 604 807 4957
SOURCE: Biomass Secure Power Inc.