MISSION VIEJO, Calif., July 11, 2014 (GLOBE NEWSWIRE) -- FITT Highway Products, Inc. (OTCQB:FHWY) (the "Company") announced that it continues to work with its merger partner Genome to secure financing through their contacts to assist with the finalization of the merger requirements and the prompt expansion of Genome's operations.
Greenome has planted in excess of 6,000,000 seedling trees in Anhui and Hunan Provinces in China on approximately 420 acres. Additionally, Greenome planted approximately 92,000 two year old larger trees which will be harvested for lumber in 3-4 years in Anhui, which also contains a small 48 acre lake. Greenome expects to harvest over 3,000,000 trees in the fourth quarter of 2014. The trees are a new type of hybrid, a cross between bamboo and willow, which grow extremely fast and are tremendously resilient. The trees are being purchased by a local backed China government companies to improve air quality, smog and other environmental issues or independent bidding parties which are subject to the most profitable pricing.
FITT Highway (FITT) has been in the energy shot business since late 2008. The Company currently provides three energy shots to the retail market, which are F.I.T.T. Energy For Life, F.I.T.T. Extreme Energy For Life, and F.I.T.T. RX For Life. Greenome will continue to market the FITT product line under strategic market alliances especially in foreign markets in China and South America.
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Information about Forward-Looking Statements
This release contains "forward-looking statements" that include information relating to future events and future financial and operating performance. The words "may," "would," "will," "expect," "estimate," "can," "believe," "potential" and similar expressions and variations thereof are intended to identify forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management's good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Important factors that could cause these differences include, but are not limited to: fluctuations in demand for FITT 's products, the introduction of new products, the Company's ability to maintain customer and strategic business relationships, the impact of competitive products and pricing, growth in targeted markets, the adequacy of the Company's liquidity and financial strength to support its growth, and other information that may be detailed from time-to-time in FITT Highway Products' Inc, filings with the United States Securities and Exchange Commission. For a more detailed description of the risk factors and uncertainties affecting FITT Highway Products, Inc please refer to the Company's recent Securities and Exchange Commission filings, which are available at www.sec.gov. FITT Highway Products Inc., undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.