TORONTO, Feb. 24, 2005 (PRIMEZONE) -- Food Safe International, Inc., the 'Company,' or (Pink Sheets:FSIJ) soon to be renamed Produce Safety and Security International, Inc., announced today that it has adopted and filed the resolution to implement a forward split. The forward split exchange ratio that FSIJ approved and deemed advisable is four post-split shares for each one pre-split share, with the forward split to occur as of February 28, 2005. FSIJ believes that the lower share price could help generate further interest in its operations, thereby adding more fundamental value and creating a more liquid market for our shareholders.
According to President & CEO, Jason Wong, "We are positioning for FSIJ's new acquisitions and appointment of Mr. Clarence 'Bill' Karney as the new President & CEO from Food Safety International LLC. FSIJ intends to appoint Mr. Clarence Karney as the new CEO and President and acquire Mr. Clarence Karney's Food Safety International LLC. The Company intends to issue capital stock of FSIJ as compensation to Mr. Clarence Karney for his appointment. Mr. Jason Wong, FSIJ's current visionary President will remain as the chairman of the Advisory Board.
Over the next few weeks FSIJ intends to announce its new corporate office locations, name change, trading symbol change and a new website.
About Food Safe International (Produce Safety and Security International, Inc.)
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.
About Food Safety International LLC and Ozone International
Food Safety International LLC offer a variety of products and services that provide safer food & produce products, better quality, reduce shrinkage, and enhance shelf life. Food Safety International LLC has developed a chemical-free environmentally safe system that guarantees the safety of customers' products. The process is accomplished through a unique ozonation process that removes pathogens and bacteria from product. This is a Whitewater Patent of Ozone International LLC to which Food Safety International LLC has an established marketing agreement. While food safety is the primary goal, an important by-product of the system is the significant reduction in shrinkage by improving shelf life. Food Safety International LLC has a team of industry experts with over 140 years experience to manage the company. Ozone wash is a non-toxic solution that delivers fresher, safer produce to market by destroying pathogenic microorganism that cause spoilage and transmit disease. Recently, the FDA and ADEC has approved the use of ozone as a sanitizer for use in food processing plants.
About Mr. Clarence 'Bill' Karney
Mr. Clarence 'Bill' Karney is the co-founder, Chairman and Chief Executive Officer of Food Safety International LLC. He has over 40 years of experience in the produce industry. His knowledge encompasses all aspects of the produce business including domestic and international field operations, inspections, procurement, sales, marketing and consulting. Mr. Karney has developed exceptional government and corporate contacts and is considered one of the most experienced members in the produce field. Prior to founding Food Safety International LLC, Mr. Karney was the founder and president of Karney & Associates. In this capacity, he was involved in the operations and inspections for import and export companies, sourced fresh fruit from Central America and provided market development and consulting services to a publicly traded news company for the produce industry. His other activities included the successful and profitable sales of seasonal fresh fruits and vegetables to major retailers, food service, terminal markets, and U.S. governmental purchasing agencies. Mr. Karney spent twelve years as a U.S. Department of Defense Procurement Agent/Contracting Officer. During this time he was responsible for the purchasing of over $400 million per year of fresh produce for these organizations. Prior to that, he spent seven years as a USDA. Fresh Produce Inspector at terminal markets including Boston, Washington, D.C. and Philadelphia, and fresh produce inspection in the states of New York, New Jersey, Florida, and Virginia. Mr. Karney is a professional member of United Fresh Fruit and Vegetable Association, Western Growers Association, International Food Processors, International Fresh-cut Produce Association, and the Produce Marketing Association. He is also a member of 5 A Day Produce For Better Health.
Safe Harbor Forward-Looking Statements
Statements contained in this release that are not strictly historical are "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. The forward-looking statements are made based on information available as of the date hereof, and the company assumes no obligation to update such forward-looking statements. Editors and investors are cautioned that such forward-looking statements invoke risk and uncertainties and the company's actual results may differ from these forward-looking statements. Such risks and uncertainties include but are not limited to demand for the company's products and services, our ability to continue to develop markets, general economic conditions, our ability to secure additional financing for the company and other factors that may be more fully described in reports to shareholders and periodic filings with the Securities and Exchange Commission.