MISSION VIEJO, Calif., June 19, 2013 (GLOBE NEWSWIRE) -- FITT Highway Products, Inc. (OTCQB:FHWY) (the "Company") announced it has entered into a Merger Agreement with FITT Energy Products Inc. The price and terms of the merger are subject to the completion of a fairness opinion which the Company anticipates completing no later than July 26, 2013. The merger has been previously approved by a majority in interest of shareholders of both companies. This merger combines the private distribution entity with the public company which maintained a license on certain product sales, as more fully discussed in the Company's previous filings with the Securities Exchange Commission.
In light of recent media coverage of the energy drink market, Michael R. Dunn, CEO of the Company and FITT states, "We believe we are now positioned to implement a nationwide roll-out of our product line, taking full advantage of the benefits of public company status. We have developed major distribution channels and will release information about our future plans over the next 45 days as we proceed toward completion of the merger."
For more information about F.I.T.T. Energy products please visit www.throwafitt.com.
About FITT Highway Products, Inc.
FITT Highway Products, Inc. is a brand management Company. As disclosed in its recent 10-Q filing for the period ended March 31,2013, the Company entered into an Operating Agreement with FITT in August of 2010 to perform a majority of the Company's operating services, including among other things, selling, marketing, producing and distributing 'F.I.T.T. Energy For Life" in exchange for a royalty payment.
Forward-Looking Statements
Certain statements made in this announcement may constitute "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. Management cautions that these statements are based on management's current knowledge and expectations and are subject to certain risks and uncertainties, many of which are outside of the control of the Company that could cause actual results and events to differ materially from the statements made herein. For a more detailed discussion of the risks that could affect our operating results, see our filings with the Securities and Exchange Commission, including our annual report on Form 10-K and our subsequently filed quarterly reports on Form 10-Q. The Company's actual results could differ materially from those contained in the forward-looking statements. The Company assumes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.