LOS ANGELES, Feb. 19, 2014 /PRNewswire/ — Today, Leone Asset Management, Inc., (Pink Sheets: LEON) announced it has signed an MOU to acquire the lease, operational and managerial control of a second granite quarry in Sierra Leone. Leone Asset intends to complete all final due diligence and complete the acquisition within 15 days.

Tony Khodadad, President of Leone Asset stated, “Last month we announced that we had signed an MOU for the operational rights to a 89.4-acre granite quarry in Sierra Leone. I am please to report that we have concluded our due diligence and the definitive agreement is now signed and in place. Today we are announcing the signing of a second MOU with a new quarry location in Sierra Leone. The new location is comprised of approximately 400 acres of Granite. The agreement will give Leone Asset a 25-year lease with options to renew for the same term. Leone Asset will receive 80% of the profits generated from the site.”

Khodadad continued with saying, “There is a very large demand for granite in Sierra Leone as well throughout West Africa due to tremendous infrastructure development. We are quite pleased with our relationships and the structure of the projects and feel that the development of these new assets will yield substantial profits to our bottom line and will increase shareholder value considerably.”

About Leone Asset Management
Leone Asset Management, Inc., is a U.S. corporation headquartered in Ventura, California. Sierra Leone subsidiary, Leone Asset Management, Ltd., operates as a Government contractor as well as owning and operating a group of diversified subsidiaries that operate in real estate and development, mining exploration and export and agriculture related projects. For additional information, visit: www.leoneasset.com

Forward-Looking Statements Disclosure
This press release may contain “forward-looking statements” within the meaning of the federal securities laws. In this context, forward-looking statements may address the Company’s expected future business and financial performance, and often contain words such as “anticipates,” “believes,” “estimates,” “expects,” “intends,” “plans,” “seeks,” “will,” and other terms with similar meaning. These forward-looking statements by their nature address matters that are, to different degrees, uncertain. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can provide no assurances that these assumptions will prove to be correct. All forward-looking statements in this press release are expressly qualified by such cautionary statements, risks, and uncertainties, and by reference to the underlying assumptions.

SOURCE Leone Asset Management, Inc.