TORONTO, Oct. 4, 2004 (PRIMEZONE) -- Food Safe International, Inc. (Pink Sheets:FSIJ) announced today that it has completed a Letter of Intent with Exus Global, Inc. (OTCBB:EXGO). Exus Global intends to utilize Food Safe-Apollo as its exclusive agent, consultant and due-diligence source for companies in Eastern Europe, the Ukraine, and Russia that are seeking to become incorporated in the United States. This relationship between EXGO and FSIJ may enable Exus Global to become a BDC specializing in Eastern European emerging growth companies that are cash flowing and establishing subsidiaries in the United States.
FSIJ intends to assist EXGO in all aspects of due-diligence in regard to assisting EXGO in its efforts to acquire Eastern European emerging companies that are establishing subsidiaries in the U.S. which are positioned for strong industry growth or that have business models with strong cash flow potential through FSIJ-Apollo Scientific staff and capabilities in Russia, Ukraine, Eastern and Western Europe, and ASIA.
EXGO has initiated a strategy to create value for shareholders by investing in emerging companies that are positioned for strong industry growth or that have business models with strong cash flow potential.
About Exus Global, Inc. -- www.Exusglobal.com
Exus Global is a publicly traded EXGO Business Development Company (BDC) located in New York City. The company has initiated a strategy to create value for shareholders by investing in emerging companies that are positioned for strong industry growth or that have business models with strong cash flow potential. In addition to initial financing, Exus provides its portfolio companies with a variety of services including managerial and administrative assistance, back office support, pre-IPO and public listing planning, public relations and investor relations, marketing and feasibility studies and identification of strategic or financial partners. For more information see http://www.Exusglobal.com.
About Food Safe International, Inc. -- www.FoodSafeInt.com
Food Safe intends to eliminate food safety and sanitation issues and provide methods to improve procedures to minimize risk and liability. Food is one of the most mobile commodities traded internationally. Consumers are asking more questions and demanding answers. Whether the commodity is spices (insect contamination), beef (E. coli), strawberries (Hepatitis A, salmonella), fish (mercury) or any of thousands of foods traded globally, consumers and buyers are demanding new standards of quality, safety and nutritional value. Protecting people from food borne illness is Food Safe's number-one priority. Food Safe's comprehensive program is a proactive approach to food safety. Spurred into action by food crises in the global beef industry, there is an international consensus that producers and food industry stakeholders require a reliable methodology and technology for verifying food production and food safety.
Safe Harbor Statement:
The foregoing, as well as other statements made by Food Safe International, Inc. may contain forward-looking statements regarding The Company. The words and phrases "expect," "estimate," "anticipate," "should," and similar expressions identify forward-looking statements. Such statements reflect, when made, the Company's current views, beliefs and expectations with respect to current events and financial performance, and are and will be, as the case may be, subject to significant risks, uncertainties and factors relating to the Company's operations and business environment which may cause the actual results to be materially different from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, but are not limited to, the following: the ability of the Company to operate pursuant to the terms of its financing arrangements; the Company's ability to obtain additional financing; the Company's ability to maintain contracts that are critical to its operations; potential adverse developments with respect to the Company's liquidity or results of operations; the ability to fund and execute its business plan; the ability to attract, retain and compensate key executives and associates; and the ability of the Company to attract and retain customers, as well as those discussed or identified from time to time in any of the Company's filings. Food Safe International, Inc. assumes no obligation to update or revise any forward-looking statements, set forth in these news releases, which speaks as of the date specified.