TORONTO, Feb. 19, 2004 (PRIMEZONE) -- Fiton Technologies Corp. (Pink Sheets:FTCUF) is pleased to announce that pursuant to an Annual and Special Meeting of the shareholders of the Company held on January 09, 2004, the shareholders approved a consolidation of the common shares of the Company on a basis of 1 (new) share for each 20 (old) shares.
The consolidation is now in effect and shareholders may submit their old certificates to Equity Transfer Services Inc. in exchange for the new certificates.
Although the Company received approval from its shareholders to change the name of the Company from Fiton Technologies Corp. to "Fiton Group Inc.", management believes that such a name change would not be in the best interest of the Company at this time. Therefore, the name of the Company will remain "Fiton Technologies Corp."
Dr. Godknows Itamunoala, Chairman and CEO of Fiton states that, "The recent reorganization has been well received by the shareholders and we are looking forward to moving ahead with some very exciting business opportunities."
About Fiton Technologies Corp.
Based in Toronto, Canada, Fiton Technologies Corp. specializes in biocatalysis, a special form of bioremediation. The biocatalysis treatment process uses naturally occurring micro-organisms to break down hazardous substances into less toxic or non-toxic matter. The company's technology is capable of treating a range of industrial wastes including organic & inorganic contaminants with applications to problems such as landfills, oil spills, oil tanker sludge, PCB's and mine tailings. The company also provides consulting services in site assessment, biotreatability testing, bioremediation system design, remediation construction, operation and monitoring.
FITON TECHNOLOGIES CORP. On behalf of the Board of Directors
Dr. Godknows Itamunoala Chairman & CEO