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Leone Asset Management (PINK:LEON) has entered into a Joint Venture with Methes Energies International, Ltd. (OTC PINK:MEIL) to produce and distribute bio-lubricants in the ECOWAS region of West Africa. This partnership aims to leverage each company's strengths in manufacturing and distribution of environmentally friendly products. CEO James Price expressed enthusiasm about this venture, highlighting the potential for growth in the renewable energy sector through the production of biodegradable lubricants. Price anticipates further announcements concerning the joint venture in the coming months, indicating a strategic move towards sustainability in the lubricants market.
Leone Asset Management (OTC PINK:LEON) provided a Q1 update on April 11, 2023, emphasizing a shift from a holding pattern post-Covid to an aggressive growth strategy. The company is engaging a PCAOB auditing firm to update its financials and aims for full reporting status on OTCQB. Leone continues its M&A strategy to acquire profitable entities, enhancing shareholder value. The company highlighted positive market conditions for its flagship product, Cholesterade, due to supply chain disruptions affecting psyllium husk production, with potential for increased market penetration. Leone's production process is fully natural, offering an environmentally-friendly alternative amidst the crisis. Given that North America accounts for a significant portion of retail psyllium sales, Leone is well-positioned to capitalize on this opportunity.
Leone Asset Management (OTC PINK:LEON) has entered into a Letter of Intent to acquire two subsidiaries, NewVision Solar and PetroFluids, Inc., both based in Florida. This strategic move aims to enhance their foothold in the disruptive green energy sector. NewVision Solar is pioneering solar technology with crystalline materials that promise 300% more energy capture than traditional silicon. The acquisition is expected to close in the third quarter, followed by a potential name change to NewEnergy Solutions, Inc.