BELLEVUE, Wash., Aug 30, 2004 (PRIMEZONE via COMTEX) -- Nutri Source Industries, Inc. ("Nutri Source") (Pink Sheets:NUSI) has acquired Pacific AgMark of Abbotsford, British Columbia.
Pacific AgMark is a growing importer of blueberries and cranberries; a multi-billion dollar industry in North America. The company currently distributes and markets some of the world's finest sugar infused dried cranberries within British Columbia, with plans to expand throughout Canada and into Asia. They also distribute and market raisin paste imported from California, which is used for energy bars and as a baking ingredient.
John Manker, CEO of Nutri Source commented, "This acquisition provides Nutri Source with a solid foundation from which to build its distribution network." He added, "This purchase is the first step in executing our acquisition based growth strategy. We anticipate creating relationships with other nutriceutical focused organizations that could result in further business developments for Nutri Source in the near future."
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.