SAF T LOK Inc. Introduces Breakthrough Firearm Lock;
TEQUESTA, Fla. -- SAF T LOK, Inc. (Nasdaq: LOCK) unveiled the company's new lock for magazine-style firearms at the National S.H.O.T. Show held this past weekend in Las Vegas. This announcement comes as President Clinton called for a "full-scale assault" in passing legislation that, among other things, "requires child safety locks on handguns to prevent unauthorized use" in his State of the Union address Tuesday.
"The magazine lock is revolutionary because it is uniquely designed as part of the firearm's ammunition magazine," Frank Brooks, chairman and inventor of the Saf T Lok(TM) noted. He explained that this new style lock now allows people the flexibility to lock their gun as easily as inserting the Saf T Lok(TM)-equipped magazine. Response at the S.H.O.T. Show to our newest lock was overwhelming. This addition to our product line of Saf T Loks(TM) was received with great enthusiasm because it opens up the significant market of semi-automatic gun owners, including Smith & Wesson, Sig Sauer, Beretta as well as polymer frame pistols such as Glock, all weapons of choice among many law enforcement professionals. We expect these locks will be commercially available in the summer of 1997," the executive reported.
"There is a groundswell of attention about firearm safety in this country. With child access prevention laws (CAP laws) for guns in more than 14 states, we are leading the fight by providing a locked firearm that is childproof yet readily accessible for instant action. To drive sales, we've put together a force of 34 Manufacturers Representatives covering 40 states. These reps will focus primarily on distributors, gun dealers and law enforcement agencies. Sales from this effort should complement our continuing dialogues aimed at national organizations and legislative efforts," Brooks concluded.
SAF T LOK Inc. manufactures and distributes the patented "quick click" locking device, Saf T Lok(TM) for handguns. The proprietary locking system renders a firearm virtually childproof, yet push-button ready for instant action.
This release contains certain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from those set forth in such forward looking statements.
Such risks and uncertainties include, without limitation, risks of changing market conditions in the overall economy, consumer demand, production difficulties, the success of the company's sales and marketing effort and other factors detailed from time to time in the company's annual and other reports filed with the Securities and Exchanges Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date thereof. The company undertakes no obligations to publicly release any revisions to these forward-looking statements or reflect events or circumstances after the date hereof.
/CONTACT: Frank Brooks of SAF T LOK, 407-743-5625, or Gale Stranger or
Tom Laughran of The Investor Relations Company, 847-564-5610/
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