BELLEVUE, Wash., Sep 09, 2004 (PRIMEZONE via COMTEX) -- Nutri Source Industries, Inc. ("Nutri Source") (Pink Sheets:NUSI) has entered into a joint venture with North West Huan Dao Investment Company of Shan Xi province, China. The purpose of the joint venture is to foster the development of the nutraceuticals industry throughout the province.
Under the terms of the agreement, Nutri Source will provide North West Huan Dao with fruit leather, raisin paste, energy bars and technology. North West Huan Dao will provide land, a 50,000 square foot facility, financing and will assist with government and regulatory approvals to develop a Nutraceutical business in Shan Xi province.
"This is a natural progression for Nutri Source at this point in the company's growth and expansion," commented John Manker, CEO of Nutri Source. He continued, "The agreement with North West Huan Dao provides Nutri Source with the financing and support needed to develop a manufacturing and distribution point within mainland China, a market we see as attractive and open for future development and expansion."
About Nutri Source Industries, Inc.
Nutri Source is in the business of purchasing berry crops and utilizing the various products derived from those crops in a number of industries including the nutraceutical industry. Nutraceutical is a coined word, crossing the words nutritional and pharmaceutical and generally coming to mean any nutritional supplement designed for any specific clinical purpose(s). They are sold on the market as foods for general consumption (or "health foods") to be used as "supplements" to nutrition (diet).
This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities and Exchange Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties. Although the Company believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any assumption could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion should not be regarded as a representation by the Company or any other person that the objective and plans of the Company will be achieved.