Message #22 From:
NewsBot Date: July 11, 2006 06:30:00 AM
SOYL News American Soil Technologies Enters Into Definitive Agreement to Acquire Smart World Organics Inc.
PACOIMA, Calif.--(BUSINESS WIRE)--July 11, 2006--American Soil Technologies Inc. (OTCBB: SOYL), a leading supplier of super-absorbent polymer soil amendments and other related products in the multibillion-dollar turf, retail, horticulture and agricultural markets, announced today that it has entered into a definitive agreement to acquire 100% of Smart World Organics of Hudson, Fla., for 2,300,000 shares of restrictive common stock of the company. The transaction will close within 60 days.
Carl Ranno, president and CEO of American Soil Technologies, stated, "The demand for organic and sustainable products is increasing in the turf, retail, horticulture and agricultural segments of our markets on a global basis. It is our belief that these organic and sustainable products manufactured and marketed by Smart World will substantially increase our revenues, and allow the company to enter into the multibillion-dollar organic and sustainable soil amendment market." Ranno went on to state, "Smart World has an experienced and dedicated management team that makes this acquisition even more appealing to American Soil Technologies."
About Smart World Organics
Ray Nielsen, the president, founder and majority shareholder of Smart World Organics, has 35 years of experience in developing organic and sustainable products in our market segments, and is a respected, sought-after speaker and resource to many companies, universities, associations, and individuals in the identification of and the solutions to the industry's issues that face today's growers. He has established proprietary products through a unique research approach that has separated Smart World Organics from most competition in the marketplace. Smart World produces all of its own products via blending (compounding) and through fermentation. It also purchases many raw materials that are processed then added to the company's complete formulas. Smart World's core products include nutrients, soil enhancers, as well as an organic pest control and fungicide products. The company has customers throughout the United States and in many foreign nations.
At the present time, Smart World facilities are located in Hudson, Fla.
About American Soil Technologies Inc.
American Soil Technologies is in the $150 billion green industry. The company develops, manufactures and markets cutting-edge technology that decreases the need for water in agriculture and other plant growing environments while increasing crop yield and reducing the environmental damage caused by common farming practices. The company has an exclusive license to two method patents with cross-linked and linear polymers as their basis. The company also holds four patents on a revolutionary new machine, the M-216 Injector, designed to install liquid products in mature turf as well as some standing crops. The machine has been built, tested and is now operational. The company has recently acquired a patent on a unique family of stable, interactive fertilizers consisting of carbonized clusters that have been successfully sold in the turf and agriculture segments of our industry.
More product information can be found on the corporate Web site, located at www.americansoiltech.com.
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the company's SEC filings. These risks and uncertainties could cause the company's actual results to differ materially from those indicated in the forward-looking statements.
