SPUM??? sounds gross, but I'll check it out. Reporting??
BAKERSFIELD, Calif.--(BUSINESS WIRE)--Dec. 1, 1999-- Spectrum-Arabieh Inc. (OTCBB:SPUM - news) has received
$500,000 in investment funding from BKR Partners of Dallas.
Funds will be used for commercial production and to continue sales efforts of Spectrum's revolutionary water treatment technology.
Spectrum-Arabieh offers The Clean Water Solution for the world. Its new desalination technology produces fresh drinking, irrigation and sanitation water from the
ocean at a fraction of the economical and environmental costs associated with reverse osmosis.
Visit www.spectrum-arabieh.com for more information.
The $500,000 bridge investment was selected from several offers made to the company stemming from the Oct. 28, 1999, Business Wire news release announcing
technology and importation approval from the Kingdom of Saudi Arabia.
Approval from scientists at the Saudi Arabian Desalination Research Institute verifies the effectiveness of Spectrum's water treatment technology, and it allows the
company to import desalination production plants into Saudi Arabia.
''This funding will enhance our sales efforts, enable us to begin assembling pilot plants, and gear up for full-scale commercial production,'' stated Sam J. Higgins,
chairman and chief executive officer. He noted that excitement, interest and media exposure have increased since the Saudi approval announcement.
Higgins also confirmed that Spectrum has had numerous new funding offers from investment groups and investment bankers around the world. Negotiations for
technology right options and joint venture plant production programs are now being pursued.
Spectrum-Arabieh, a technology development and marketing company, is dedicated to providing abundant clean water to the world at a very low, economical and
environmental cost. It is now in the process of bringing its clean water solution to the thirsty desert lands of the Middle East and the Arabian Gulf.
The company's breakthrough water treatment process, PIMA (Photonic Ionization, Manipulation and Augmentation) Desalination Technology, achieves molecular
modification of seawater through the use of lasers and photonics. The PIMA process produces fresh, clean, usable water from the ocean without heat, high pressure
or toxic chemicals.
Forward-looking statements, if any, in this release, are made pursuant to the ''Safe Harbor'' provisions of the Private Securities Litigation Reform Act of 1995.
Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of the company's
products, competition, new products and technological changes, intellectual property rights and other risks. Visit www.spectrum-arabieh.com for more information.
Contact:
Spectrum-Arabieh Inc.
Mona Qamar, 877/321-1228 (public relations)
mqamar@spectrum-arabieh.com
or
Corporate information hotline, 661/328-5628 |
