**********NEWS**********
Itronics Announces Funding Commitment, Allowing It
To Move Into New Manufacturing Facility
RENO, Nev.--(BUSINESS WIRE)--Sept. 17, 1998--Itronics Inc. (OTC BB:ITRO) announced today that it has received a commitment for funding from a venture capital group that will allow Itronics Metallurgical, Inc., its wholly-owned subsidiary, to complete the move to the manufacturing facility in Reno/Stead, Nev.
''The funding commitment made by the Sierra Angels makes it possible for Itronics to complete the move into its new facility this fall and to expand the growth in sales of its Gold'n Gro fertilizer,'' said Dr. John Whitney, Itronics' president and CEO. The Sierra Angels was formed last year in Incline Village, Nev. to provide funding for selected early stage growth companies.
Itronics manufactures a top-rated fertilizer in a proprietary process from used photochemicals. The technology allows recovery of virtually 100 percent of the silver and other heavy metals used in photographic chemicals. Itronics sells both the recovered silver and the fertilizer.
The fertilizer has proven highly acceptable at California golf courses because of its superior performance and lack of heavy metals, a key environmental concern.
''The new facility will allow us to meet the growing demand for our fertilizer, which is also being formulated for use in vineyards, citrus orchards and on vegetable fields,'' Dr. Whitney said. ''Exact timing of the move is dependent upon selection of a contractor and receipt of a building permit and other approvals,'' Itronics' CEO said.
Itronics Inc. is the world's only fully integrated photochemical recycling company. Headquartered in Reno, Nev., 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.
Dr. John Whitney, 702/689-7696 |
