To all,
This just came over newswire:
IGG International, Inc. Secures Foreign Distribution Agreements for SafeScience(TM) Agricultural Products
Exclusive Agreements Signed for New Zealand, Australia, The United Arab Emirates and The Kingdom of Saudi Arabia
January 7, 1998 08:59 AM
BOSTON, Jan. 7 /PRNewswire/ -- IGG International, Inc. IGGI , a leader in the development of SafeScience(TM) products for pharmaceutical and agricultural applications, today announced that it has signed exclusive agreements with two foreign distributors to commence the distribution of IGGI's SafeScience(TM) agricultural products. A distribution agreement was made with Elliott Chemicals Limited of Auckland, New Zealand for New Zealand and Australia, and a second distribution agreement was made with Gulf Petrochemical Services Inc. in Abu Dhabi-UAE for the United Arab Emirates, The Kingdom of Saudi Arabia, Qatar, Bahrain and the Sultanate of Oman. IGGI's SafeScience(TM) products include naturally-derived crop fungicides and fertilizers.
"We have received interest from distributors worldwide for our SafeScience(TM) agricultural products as a result of the recent announcement of EPA approval of our lead fungicide, ELEXA(TM)," stated Bradley Carver, President of IGG International and its wholly-owned subsidiary Agricultural Glycosystems. "These two agreements are with leading agricultural suppliers who we believe will be very effective in promoting our products in their respective regions. We are in discussion with several potential distributors in other geographic areas of the world which may lead to the signing of additional agreements in the first quarter of 1998."
Terms of the agreements include exclusive distribution rights for IGGI's current and future SafeScience(TM) agricultural products. In return, the Company has received undisclosed licensing fees which can be applied towards product sales. IGGI expects to begin shipment of product in the first quarter of 1998.
"We are pleased to acquire rights to distribute IGGI's SafeScience(TM) products in New Zealand and Australia," stated Garry Elliott, President and CEO of Elliott Chemicals Limited. "These naturally-derived products offer a unique alternative to conventional synthetic chemical products and should easily meet New Zealand's strict export standards for green agriculture because they leave no residue and are easily re-absorbed into the environment."
New Zealand exports a wide range of horticultural crops worth over $800 million each year, including apples, kiwi fruit, grapes (wine), squash, potatoes and onions. Due to insufficient calcium levels in the New Zealand soil, these crops have proven more vulnerable to fungal invasion, requiring New Zealand farmers to apply calcium up to ten to eleven times a year on some crops. Currently used calcium fertilizers contain chloride that negatively effects fruit finish, decreasing the commercial value. IGGI's SafeScience(TM) calcium-enriched and chloride-free fertilizer has a unique delivery system for calcium based on carbohydrate chemistry.
"We are impressed with the high standards of IGGI's world brand SafeScience(TM) products," stated Dr. Arthur Keegan, General Manager of Gulf Petrochemical Services Inc. "There is a growing demand for produce which is free of synthetic chemical residue in the United Arab Emirates. IGGI's naturally-derived fungicide can be applied shortly before harvest, providing crops with additional protection before distribution."
IGG International, Inc. is a leader in the development of complex carbohydrate compounds, derived from naturally occurring substances, for pharmaceutical and agricultural applications. IGGI has two wholly-owned operating subsidiaries: International Gene Group, Inc. and Agricultural Glycosystems, Inc. Further information is available on IGG's web site: www.iggint.com.
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 nonapproval or delays by the EPA or foreign regulatory authorities, 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 undo reliance on these forward-looking statements, which speak only as the date hereof. The Company undertakes no obligation to publicly release 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 IGG International, Inc.
Hope this helps the stock.
Smile
Redhead |
