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AMG Completes Acquisition of a 133 Hectare Jatropha Plantation

It has also acquired a 201 hectare eucalyptus plantation and the land rights.

AMG Bioenergy Resources Holdings Ltd. (the “Company”) (TSX VENTURE:ABG), an Alberta publicly traded company, announces that it has met all necessary regulatory closing conditions for the previously announced acquisition of a 133 hectare jatropha plantation and a 201 hectare eucalyptus plantation, and the associated land use rights, in the People’s Republic of China, pursuant to a Land Use Rights Transfer Agreement between the Company and China Zhejiang Biodiesel Co, Ltd., dated February 28, 2012, and has closed the transaction effective March 22, 2012 and is filing final materials with the TSX Venture Exchange.

In connection with the transaction, the Company has issued 13,750,000 common shares to China Zhejiang Biodiesel Co, Ltd.’s nominee, China Zhejiang Biodiesel Co, Pte. Ltd. (the “Nominee”). As a result, the Nominee now holds approximately 21.5% of the issued and outstanding common shares of the Company on an undiluted basis and is considered to be both an insider and a control person of the Company (as those terms are defined under applicable securities laws).

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