EL CAMPO, Texas, May 2 /PRNewswire-FirstCall/ -- Exousia Advanced Materials, Inc. (BULLETIN BOARD: EXOU.OB) is pleased to announce it has signed a Strategic Relationship Agreement with Rosewood Corporation to develop international planned communities that utilize Structurally Insulated Panel (SIPs) building components.
The Strategic Relationship Agreement initially consists of approximately 7,900 homes in four countries and one U.S. Territory. Rosewood has proposed community projects in the Bahamas, Jamaica, Barbados, South Africa and the U.S. Virgin Islands. Exousia is to provide high quality structurally insulated building systems and technical expertise for worldwide deployment. Rosewood will provide real estate development services including master planning and infrastructure to create affordable planned residential communities. Exousia anticipates completion of the aforementioned 7,900 homes over the next five to seven years.
SIPs housing envelopes (roofs, walls, etc.) provide an attractive enclosed structure that is very typical of the region. These structural envelopes, prior to finished build-out (cabinets, countertops, etc.), usually sell from $30,000 to $40,000 each, depending on square feet, design variations and location.
"Our alliance with Rosewood allows Exousia to participate in sizable SIPs-based housing developments that will quickly drive high-volume manufacturing," says Exousia Chairman and CEO, J. Wayne Rodrigue. "This alliance will also help Exousia utilize manufacturing facilities we are in the process of acquiring."
On March 29, 2007 Exousia announced its intention to acquire Product Spectrum Group (PSG), Inc., an 18 year-old manufacturer of laminated walls, floors and high quality SIPs building components for residential and commercial construction. As announced on April 24th, Exousia recently received approval for $6.5 million in industrial bond financing by the City of Elkhart, Indiana and the Indiana Financing Authority to acquire PSG.
"We are delighted about how our business plan is developing and how it is facilitating our growth in 2007 and 2008," said Mr. Rodrigue. "During this time we expect to become a prominent, world-wide supplier of choice, selling our products into many different industries."
About Exousia Advanced Materials, Inc.
Exousia develops and commercializes advanced resins, engineered particles, and specialty products based on proprietary science related to the combination of plastic molecules, polymers and rubber composites. Exousia products enhance strength, durability, cost effectiveness and performance for a wide range of manufacturing, commercial, and construction applications.
About Rosewood Corporation
Rosewood Corporation is a private investment company that works with Caribbean and African governments to create housing and industry programs that improve economies and living standards. Rosewood identifies funding sources and project opportunities, participates in community development enterprises, and promotes the commercial sectors of emerging world economies, while also incorporating programs for technology transfer and job creation. Rosewood is a California Corporation that operates internationally with offices in the U.S., Isle of Man, England and Johannesburg, South Africa.
Forward-Looking Statements
Statements released by Exousia Advanced Materials, Inc. that are not purely historical are forward looking within the meaning of the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the company's expectations, hopes, intentions and strategies for the future. Investors are cautioned that forward-looking statements involve risk and uncertainties that may affect the company's business prospects and performance. The company's actual results could differ materially from those in such forward-looking statements. Risk factors include but are not limited to general economic, competitive, governmental and technological factors as discussed in the company's filings with the SEC on Forms 10-K, 10-Q and 8-K. The company does not undertake any responsibility to update the forward-looking statements contained in this release.
Exousia Advanced Materials, Inc.
CONTACT: Brokers, Surety Financial Group, LLC, +1-410-448-1130
