RushNet Makes Offer for East Coast Bottled Water Plant
BLUE ISLAND, Ill., Jun 25, 2007 (BUSINESS WIRE) -- RushNet, Inc. (Pink Sheets: RSHN) announced today that it has agreed to form a joint venture to purchase a bottled water plant in Northern Georgia. What makes this plant unique is that it lies directly over the largest deep-water aquifer in the Eastern part of the United States, called the Crystalline Aquifer. The plant will manufacture RushNet's e-water(R) brand for the Eastern United States and the Midwest.
The Georgia plant has been operating for over 5 years at this location and its direct access to the unlimited supply from this Aquifer allows for continual expansion at the same site. The water is accessed by a single shaft drilled directly into the Aquifer at over 650 feet deep. The plant can presently access over 300 gallons per minute directly into the bottling plant from the current flow. The quality of the water has been tested by the RushNet technical support team and those results have confirmed that the water is perfect for its e-water(R) brand. With 90 ppm of total dissolved solids (trace minerals) and a great smooth taste, this Artesian water is ideal for use with the e-water(R) formula of 70+ electrolytes and natural fulvic acid.
RushNet will participate in the management and marketing of the plant's products besides its e-water(R) brand, as well as pledge restricted securities during the buy out period for its position in the purchase. Capital expenditures needed for the purchase of additional equipment such as blending tanks and filtration systems will be financed with capital raised from private investment partners.
Robert Corr, President of RushNet, stated, "The growth of e-water(R) over the last year and a half has created the need to produce it in the Eastern U.S. This opportunity will significantly lower our cost of goods to distributors in this territory, thereby increasing the money available for promotion of the brand and further accelerating its growth. We as a company were very fortunate to find this source of water for our brand. Our preliminary tests on e-water's(R) effect on the body have been unique among all bottled waters, and we have undertaken scientific studies to confirm these results. Once these results are available they will be published on our website. As the one representing the interests of our whole stockholder base, I felt it was imperative that we secure an Eastern water source for e-water(R) that meets our criteria, and we've found it."
In other e-water(R) news RushNet, Inc. is proud to announce it has been granted a Trademark Registration in Japan for the name e-water(R), another important step to bringing the product to market there.
Disclaimer: The Company relies upon the Safe Harbor Laws of 1933, 1934 and 1995 for all public news releases. Statements, which are not historical facts, are forward-looking statements. The company, through its management, makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessarily estimates reflecting the company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors. Factors which could cause actual results to differ materially from those estimated by the company include, but are not limited to, government regulation; managing and maintaining growth; the effect of adverse publicity; litigation; competition; and other factors which may be identified from time to time in the company's public announcements.
SOURCE: RushNet, Inc. |
