American Soil Technologies Reaches $19.5 Million Deal With the Gerber Goldschmidt Group; First Shipment of Agriblend Amended Soil Distributed to Mexico.Business Editors SAN DIEGO San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. , Calif.--(BUSINESS WIRE)--June 7, 2000 American Soil Technologies, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :SOYL) today announced it has arrived at a contractual agreement with Sunpride, Inc., a subsidiary of the Gerber Goldschmidt Group, to produce and disseminate its Agriblend amended soil products to Gerber's farming center in Mexico. The agreement between the two companies has a five-year duration and features a minimum requirement of $19.5 million to be paid to American Soil Technologies for the production and shipping of its amended soil products. On May 20, the Company completed an initial shipment of 44,000 pounds of Agriblend soil to Mexico. Following the shipment, on June 5, Ron Salestrom, American Soil Technologies' Manager of Research and Development and the founder of Agriblend, arrived at Sunpride's Mexican site to train its instructors at how to use the product to obtain maximum efficiency. Sean Lee Sean Patrick Lee (born July 22, 1986 in Pittsburgh, Pennsylvania) is a linebacker for the Penn State Nittany Lions. Born on July 22, 1986, Lee has been the outside linebacker for Coach Joe Paterno's Nittany Lions for two consecutive seasons. , Executive Vice President of Sales and Marketing for American Soil Technologies, commented, "This is our first venture of significance into Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. . Furthermore, we believe irrigated farming in Mexico is in need of our product even more than in the U.S. We are anticipating working further with the Gerber Goldschmidt Group, to utilize their top notch international holdings services to help hasten has·ten v. has·tened, has·ten·ing, has·tens v.intr. To move or act swiftly. v.tr. 1. To cause to hurry. 2. our products' penetration into additional global areas such as Europe, Asia and South America South America, fourth largest continent (1991 est. pop. 299,150,000), c.6,880,000 sq mi (17,819,000 sq km), the southern of the two continents of the Western Hemisphere. ." About the Gerber Goldschmidt Group, Inc. The Gerber Goldschmidt Group is a $2 billion international holdings company with more than 30 worldwide branches in 22 countries. The Company offers services in many spheres of world trade, including exporting, importing, manufacturing and distribution and financing of a broad base of commercial activities. The Group's global offices represent leading organizations in the field of food, land and sea-based commodities, computer software and consulting, electronics, textiles, raw materials, machinery and tools, motor vehicles and other transport equipment, steel, plastics and pharmaceuticals. About American Soil Technologies, Inc. American Soil Technologies, Inc. develops, manufactures and markets cutting-edge technology that decreases the need for water in dry land farming, irrigated farming and other plant growing environments while increasing crop yield and reducing the environmental damage caused by common farming practices. In addition, the Company holds exclusive rights to a soil washing technology that completely removes hydrocarbon (petroleum) products from contaminated contaminated, v 1. made radioactive by the addition of small quantities of radioactive material. 2. made contaminated by adding infective or radiographic materials. 3. an infective surface or object. soil and recycles the soil for commercial use. The Company was formed in September 1999 by acquiring the marketing rights to Agriblend and forming two divisions: Soil Wash Technologies and the Agriblend Division. The technological link between Soil Wash Technologies and Polymers Plus combines the expert knowledge of each company with respect to polymers and soil remediation. The Company believes this strategy will make it a world leader in the science of agronomy agronomy (əgrŏn`əmē), branch of agriculture dealing with various physical and biological factors—including soil management, tillage, crop rotation, breeding, weed control, and climate—related to crop production. . More product information can be found on the corporate Web site, www.americansoiltech.com. Statements in this news release that are not descriptions of historical facts are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that are subject to risks and uncertainties. Words such as "expect," "intends," "believes," "plans," "anticipates" and "likely" also identify forward-looking statements. All forward-looking statements are based on current facts and analyses. Actual results may differ materially from those currently anticipated due to a number of factors including, but not limited to history of operating losses operating loss The excess of operating expenses over revenue. As with operating income, operating losses exclude revenues and expenses from operations that are not considered a regular part of the business. Also called deficit. Compare operating income. , anticipated future losses, competition, future capital needs, the need for market acceptance, dependence upon third parties, disruption of vital infrastructure and intellectual property rights. All forward-looking statements are made pursuant to the Securities Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. Reform Act of 1995. Additional information on factors that may affect the business and financial results of the Company can be found in filings of the Company with the Securities and Exchange Commission. |
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