TORONTO, March 4, 2005 (PRIMEZONE) -- Produce Safety and Security International Inc. (Pink Sheets:PDSS) (the 'Company') is pleased to announce today that it has begun trading under its new name and stock symbol, PDSS (Pink Sheets:FSIJ) after effecting its name change and four-for-one forward stock split.
Current president & CEO, Jason Wong stated, "We have positioned the Company for new acquisitions and the appointment of Mr. Clarence 'Bill' Karney as the new President & CEO from Food Safety International LLC. The Company intends to formally announce the appointment of 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 PDSS as compensation to Mr. Clarence Karney for his appointment. Mr. Jason Wong, PDSS's current visionary President will remain as the chairman of the Advisory Board.
About Produce Safety and Security International, Inc.
Produce Safety and Security 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 Produce Safety and Security's number-one priority. Produce Safety and Security'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 Mr. Clarence 'Bill' Karney
Mr. Clarence 'Bill' Karney is the co-founder, Chairman and Chief Executive Officer of Food Safety International LLC. He has more than 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 12 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 U.S.D.A. 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.