Biomagnetics Announces LOI to Acquire Zhuhai Oil Energy-To Inherit Biofuel Contract for Guangdong Powerplant
SAN FRANCISCO--(BUSINESS WIRE)--Biomagnetics Diagnostics Corp., (PINK SHEETS:BMGP - News) a developer of revolutionary diagnostic systems and technology for HIV, hepatitis, tuberculosis and malaria detection, and other innovative technologies, today announced the signing of a Letter of Intent (LOI) with Zhuhai Oil Energy Science and Technology Ltd., an inventor and producer of unique gasoline and diesel biofuel blends, located in the Guangdong Province, China. The acquisition of Zhuhai is the second in a series of planned highly accretive Chinese technology and product acquisitions targeted at a $1.00 share price for Biomagnetics’ common shares.