U.S. Home & Garden Announces $9 Million U.S. Government Contract for its Ionatron Subsidiary
TUCSON, Ariz.--(BUSINESS WIRE)--April 21, 2004--Ionatron Inc., a wholly-owned subsidiary of U.S. Home & Garden Inc. (OTCBB:USHG), today announced the receipt of a U.S. Government Contract to build and deliver an Ionatron transportable demonstrator unit that will be utilized to conduct field trials of the company's next-generation controlled energy technology. The initial contract award is for $9,000,000 and, it is expected that, the unit will be delivered in less than 10 months. It is anticipated that orders for additional units will be received as progress is made on this existing program.
The Company is seeking shareholder approval to change its name to Ionatron, Inc. at a Special Meeting of Stockholders on April 29, 2004.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995:
Certain statements contained in this News Release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any futures results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, but are not limited to: the risks of uncertainty of patent protection; the risks of uncertainty of strategic alliances; the risk and uncertainty of management tenure; the impact of third-party suppliers' manufacturing constraints or difficulties; management's ability to achieve business performance objectives, market acceptance of, and demand for, the Company's products, and resulting revenues; development of technology and manufacturing capabilities; impact of competitive products and pricing; litigation and other risks detailed in the company's filings with the Securities and Exchange Commission. The words "looking forward," "believe," "demonstrate," "intend," "expect," "estimate," "anticipate," "likely" and similar expressions identify forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statement was made. Ionatron undertakes no obligation to update any forward-looking statements contained in this news release.
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