SAN DIEGO, Oct. 6, 2006 (PRIMEZONE) -- Victor Industries Inc. (OTCBB:VICI) is pleased to announce that an Information Statement will be mailed, on or before October 11, 2006, to shareholders of record as of October 3, 2006 for a vote with respect to the pending merger with Ethos Environmental, Inc., ("Ethos") among other matters. The Annual Shareholder Meeting will be held on October 23, 2006 in accordance with Idaho law. It is anticipated that the merger with Ethos Environmental Inc. will close shortly thereafter.
Ethos' 2005 Revenue grew to nearly $1.8 million resulting in a gross profit of $1.25 million. Through the first six months of 2006, Ethos' revenue has exceeded $2.7 million and generated in excess of $1.75 million in gross profit. Ethos recently completed negotiations of new long-term contracts, which will allow annual expansion through 2009. Responding to this dramatic increase in sales, Ethos has purchased a new, state of the art 70,000 square foot facility to better facilitate production and distribution of its products, thereby satisfying the significant growth in world-wide demand. The inauguration of Ethos' new San Diego facility is anticipated later this month.
For more information about Ethos, please visit www.EthosFR.com.
This news release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Act of 1934, as amended; such statements are subject to risks and uncertainties that could cause actual results to vary materially from those projected in the forward-looking statements. The Company may experience significant fluctuations in operating results due to a number of economic, competitive and other factors. These factors could cause operations to vary significantly from prior periods, and those projected in forward-looking statements. Information with respect to these factors which could materially affect the Company and its operations are included on certain forms the Company files with the Securities and Exchange Commission.