Raven Biofuels International Corporation(OTCBB: RVBF) ("Raven" or the "Company") is pleased to announce that it hasentered into a Memorandum of Understanding ("MOU") with the Kamloops IndianBand ("KIB") located in Kamloops, British Columbia, Canada, the purpose ofwhich is to further the development and construction of a proposed ethanolbiorefinery and cogeneration power plant in conjunction with KIB.
As part of the agreement, KIB (www.kib.ca) would provide a site ideallysituated for industrial use near Kamloops, BC. KIB brings significantaccess to feedstock resources secured via a multi-year Provincial forestryagreement in which KIB has rights to 124,000 cubic metres of beetle-killedwood within the Kamloops Timber Supply Area. The forestry agreementaugments a forest and range agreement signed by the band in 2005, whichgranted $2.5 million in shared revenues and 272,000 cubic metres of timberover five years.
Recent meetings in Kamloops have led to the agreement between both partiesof a non-binding MOU which outlines the mutual interest towards pursuing analliance leading to the construction of a cogeneration power facility andbiorefinery utilizing technology and expertise provided by Raven plus asite, feedstock and other resources provided by KIB. Mr. Ken Day of PriceBiostock (www.pricebiostock.com) was instrumental in introducing Raven toKIB. Price Biostock will maintain a role in providing feedstock expertiseand management in the proposed venture.