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ZANN Corp Announces Planned Acquisition.

FENTON, Mich. -- ZANN Corp. (OTCBB:ZANC) announced today that ZANN Corp (Zann) and Sartam Industries, Inc. (Sartam) have signed a Letter of Intent (LOI) for the purpose of Zann acquiring Sartam. Sartam has a semi-automatic riveting system which can run at more than one rivet/second with a skilled operator.

According to Robert C. Simpson - CEO, "We believe this is the most advanced semi-automatic riveting system in the world. Our preliminary sales goal for the first 24 months is for 1,000 tools at greater than $1,500.00 and 6,300,000 magazines at greater than $3.00, for a combined total of approximately $20,250,000. These figures represent less than 1% of the US market share for rivet guns."

Simpson went on to say, "This system represents superior quality and labor savings of more than 40% in many cases. The tools weigh less than 4 pounds and are portable. Zann and Sartam complement each other perfectly, and will create unique synergies for both companies. Many of our team members, including me, cut their teeth in the manufacturing-automation business. A definitive agreement providing for the acquisition of Sartam is being written with the LOI as a guideline. Our objective is to complete the financial audit during the 3rd Quarter 2005, and acquire Sartam shortly thereafter."

ABOUT ZANN CORP

ZANN Corp. manages four wholly owned business units (two of these are in the development stage) with scalable technologies and plans to acquire a fifth this year. This diverse range of high quality, high value products and services are aimed at profitable niche markets. For additional information please visit the corporate website at: www.zanncorp.com

Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934 and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.
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Publication:Business Wire
Date:Apr 6, 2005
Words:379
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