***********NEWS***********
Itronics Announces Significant Increase in Gold'n Gro Fertilizer Sales
RENO, Nev.--(BUSINESS WIRE)--July 13, 1998--Itronics Inc. (OTC BB: ITRO - news) announced today that its photobyproduct recycling subsidiary, Itronics Metallurgical, Inc., increased sales of its Gold'n Gro liquid fertilizer products by approximately 70 percent in the second quarter of Fiscal Year 1998 compared to total Fiscal Year 1997 sales.
Sales in the first quarter of FY 1998 equaled total FY 1997 sales and sales of the Gold'n Gro fertilizer are currently running at a rate 10 times greater than in 1997, Dr. John Whitney, Itronics President and CEO, announced.
Itronics develops a top-rated fertilizer in a proprietary process from used photochemicals. Its technology allows the recovery of virtually 100 percent of the silver and other heavy metals in used photographic chemicals.
Gold'n Gro is sold to several major lawn service companies in northern and central California and to more than 25 golf courses in central and southern California at present.
''In January 1998 only two golf courses were using our fertilizer. Currently a number of additional golf courses are testing this fertilizer and we expect sales to continue to grow rapidly in the third quarter,'' Whitney said. ''The application results are proving to be consistently superior to existing fertilization practices,'' Whitney said. ''Also, our fertilizer is certifiably heavy-metal free, an important environmental consideration.''
Gold'n Gro fertilizer is now sold through Western Farm Services, Inc.'s California Turf and Ornamental sales group. WFS is one of the largest fertilizer retailers in the western U.S.
In July WFS began manufacturing Gold'n Gro 8-12-9, a plant starter product, and Gold'n Gro 20-1-7, which has been ranked the number one fertilizer two years in a row by the University of California Riverside. ''The new manufacturing process went smoothly and the bulk manufacturing and distribution agreement between Itronics Metallurgical and WFS, which was signed in March 1998, is operational,'' Whitney said.
''Itronics is now focusing on completing the financing for its move into a new manufacturing facility in Reno/Stead, Nevada,'' Whitney said. ''The present goal is to be operating in the new facility in mid-September.''
Itronics Inc. is the world's only fully integrated photochemical recycling company. Headquartered in Reno, Nevada, it specializes in recycling technology development, photobyproduct recycling, silver refining and technical services for the mining and recycling industries.
(The statements in this news release that are not historical facts or statements of current status are forward-looking statements
(as defined in the Private Securities Litigation Reform Act of 1995) that involve risk and uncertainties. Actual results may differ
materially.)
Contact:
Itronics Inc.
John W. Whitney, 702/689-7696 |
