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biz.yahoo.com July 15, 7:57 am Eastern Time
Company Press Release
SOURCE: SafeScience, Inc.
SafeScience Adds Breakthrough Technology From Earthgreen Products, Inc. to Its Greenleaf(R) Plant Nutrition Product Line
Products Combine Economic Benefits With Reduced Chemical Impact on Environment
Prehistoric Menefee Mineral(R) Humate-based Products Shown to Increase Plant Yields 9 to 24 Percent
BOSTON, July 15 /PRNewswire/ -- SafeScience, Inc., (Nasdaq: SAFS - news) today announced an exclusive agreement to market and distribute granular and water- soluble Menefee Mineral(R) humate-based products, mined and produced by Earthgreen Products, Inc. and its subsidiaries. These Earthgreen products, mined from a unique source in the Menefee Formation of New Mexico, are biodegraded remains of prehistoric plants and animals that are processed for easy application to enhance plant growth.
Humate and humic acids are the product of decomposition of plant and animal matter over a period of millions of years. Humate enhances the soil's capacity to exchange mineral nutrients with plant roots, without any adverse environmental effects. The Menefee Mineral(R) products, which contain 60% humic acid, also act as potent adjuvants when added to fertilizer products, such as SafeScience's Greenleaf(R) fertilizers. Together, the augmented fertilizer chelates macro and micro nutrients, improves seed germination, stimulates root and shoot growth, activates soil bacteria and increases plant cell activity. The combined product can be applied as a foliar spray or soil additive and provides a balanced fertility program for increasing plant growth and plant yield.
''Earthgreen has conducted numerous university and field studies and accumulated data over a period of seven years on their humate-based products,'' said Bradley Carver, President, SafeScience, Inc. ''Field trial studies with multiple academic institutions have shown that Menefee Mineral(R) products, combined with fertilizers, increase plant yield by 9% to 24% over the use of fertilizers alone. Studies have also shown that when Menefee Mineral(R) products are added, the amount of fertilizer can be reduced by 20% to 40% with no reduction in plant growth or yield.''
Mr. Carver continued, ''These Menefee Mineral(R) products will add tremendous value to our rapidly expanding line of SafeScience agricultural products. Very rarely do you find a product that reduces chemical impact on the environment and is more economical to use.''
Under the terms of the agreement, which is to take effect on October 1, 1998, SafeScience will market and distribute granular and water- soluble Menefee Mineral(R) products under the SafeScience Greenleaf(R) label to retail lawn and garden outlets across North America. The mineral granules will be sold as a stand alone humic acid product called Greenleaf Menefee Mineral(R), and the water-soluble formulation will be combined with SafeScience's Greenleaf(R) Lawn-Plus and Garden-Plus carbohydrate-based fertilizers.
''We have seen a tremendous increase in demand for humic acid products by commercial plant growers,'' said John Lown, President of Earthgreen Products, Inc. ''The SafeScience(R) brand, representing an extended line of products that are safe to the environment and health, is the perfect vehicle to introduce humic acid based fertilizers to broad consumer markets. I am particularly enthusiastic about SafeScience's overall marketing campaign for Menefee Mineral(R) products which will feature, 'Going back to nature -- way back.' This phrase will capture consumer imagination by highlighting the geological origins of the product. The dinosaur logo, which will appear on all packaging, will reinforce this unique message.''
Earthgreen Products, Inc., develops plant nutrition programs based on the rich deposits of Menefee Minerals(R), located in northwest New Mexico. These unique programs are designed to provide a balance of major nutrient ingredients, vital micro nutrients, and natural minerals for healthy and safe plant growth and development. Further information can be found by visiting Earthgreen's web site at earthgreen.com or humicacid.com.
SafeScience, Inc., is developing and in-licensing a portfolio of efficacious agricultural, pharmaceutical and consumer products to be marketed under the world brand 'SafeScience(R)' as an alternative to conventional products employing potentially harmful chemicals. The Company's human therapeutic products include a unique compound to treat cancer, which is in human clinical trials at the M.D. Anderson Cancer Center, as well as a promising antifungal compound, CAN-296, for the treatment of human fungal infections. Further information is available on SafeScience's web site: safesci.com.
SafeScience Safe Harbor Statement
Any statements contained in this release that relate to future plans, events or performance are forward-looking statements that involve risks and uncertainties, including, but not limited to, risks of product non-approval or product development and market acceptance risks, the impact of competitive products and pricing, the results of current and future licensing and other collaborative relationships, the results of financing efforts, developments regarding intellectual property rights and litigation, and other risks identified in the Company's Securities and Exchange Commission filings. Actual results, events or performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as the date hereof. The Company undertakes no obligation to release publicly the results of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
SOURCE: SafeScience, Inc.
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