DNA PLANT TECHNOLOGY UNVEILS SECOND GENERATION GENETICALLY-MODIFIED TOMATO.OAKLAND, Calif.--(BUSINESS WIRE)--May 19, 1995--At its Annual Meeting of Shareholders yesterday in Oakland, California, DNA DNA: see nucleic acid. DNA or deoxyribonucleic acid One of two types of nucleic acid (the other is RNA); a complex organic compound found in all living cells and many viruses. It is the chemical substance of genes. Plant Technology Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : DNAP DNAP Division of Natural Areas and Preserves DNAP Diplôme National d'Arts Plastiques (French: Visual Arts National Diploma) DNAP DNAPrint Genomics, Inc. ) unveiled the Company's second generation version of its genetically-modified tomato. In addition to the Company's patented Transwitch(R) technology, this latest version utilizes DNAP's own proprietary selectable marker gene and promoter technology. In a presentation which included providing product samples for tasting by the meeting's attendees, Robert Serenbetz, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of DNA Plant Technology, indicated that the newest version of the tomato is essentially identical to the Company's current version, which is in test market. He stated, "The superior taste, color and longevity of our tomato remains the same. The only difference is that it replaces the marker and promoter technology which is currently the subject of a dispute with Monsanto Corporation (NYSE NYSE See: New York Stock Exchange : MTC mtc - A Modula-2 to C translator. ftp://rusmv1.rus.uni-stuttgart.de/soft/Unixtools/compilerbau/mtc.tar.Z. )." Mr. Serenbetz indicated that the Company expects to begin production of the second generation genetically-modified tomato in September for initial launch into retail stores in December. DNAP also announced that it is engaged in discussions with several parties relating to securing additional capital and is hopeful that it will be able to successfully conclude negotiations in the near future in order to obtain sufficient funds for its operating needs. As previously announced, DNAP recently concluded a private placement of 750,000 shares of its common stock and received approximately $1.4 million in net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). . DNA Plant Technology Corporation is a leading agribusiness biotechnology company focused on developing and marketing premium fresh and processed fruits and vegetables using advanced breeding, genetic engineering and other biotechniques. FreshWorld Farms, Inc., a wholly-owned subsidiary of DNAP, markets a line of premium vegetables under the FreshWorld Farms(R) brand name, including tomatoes, carrot bites (baby whole carrots), sweet red mini-peppers and VegiSnax(R) carrot sticks. DNAP's two-track strategy uses advanced breeding to develop and market improved premium products today, while using genetic engineering to improve flavor and shelf-life of its products for tomorrow. CONTACT: DNA PLANT TECHNOLOGY Chris Braunlich 510/450-9394 or MALLORY FACTOR INC. Debra Berliner 212/242-0000 |
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