Re: NEWS - Journey of Light, Inc. Signs Contract With J&P
posted on
Jan 04, 2007 06:39AM
J&P being a
significant investor in the Project Company (a minimum of 15 million
U.S. Dollars); J&P receiving a minority equity stake in the Project
Company, and J&P being the general contractor for the Omagine
Project with JOL sharing in the profits of such construction project.
The value of the construction contract that the Project Company is
obligated to award to J&P is directly proportional to the amount of
J&P's investment in the Project Company. If J&P invests 100% of
the required Project Company equity they will get 100% of the
construction contract; if they choose to invest less than 100% of the
required Project Company equity, then JOL and the Project Company, at
their sole discretion, may accept or reject such proposed investment.
W#ith a minimum investment of 15 million and probably more all that is needed is the signed development agereement.
