Published:
Pure Energy Signs North American Distribution Agreements for Perfectly Natural Solutions Lawn and Garden Products With Sure-Gro Inc.
Pure Energy Visions Corporation (TSX-V: PEV)
(FRANKFURT: XYQ) ("Pure Energy" or the "Corporation"), the leading Canadian
provider of environmentally responsible battery and lawn & garden products,
announced today that it has signed agreements with Sure-Gro Inc.
("Sure-Gro"), a leading supplier in the Canadian Home and Garden Industry,
for the distribution of the Corporation's Perfectly Natural Solutions(TM)
("PNS") brand of lawn and garden products in Canada and the US.
The agreements grant Sure-Gro exclusive distribution of Pure Energy's line
of lawn and garden products in Canada and the US under the PNS and private
label brands. Under the agreements, Sure-Gro has acquired the assets used
in connection with the US portion of the PNS lawn and garden business
(primarily inventory of approximately $325,000 and a fully paid 10-year
license for use of the trade marks in the US), assumed sales personnel, and
received a 10-year license to use the PNS lawn and garden trade marks in
Canada, subject to the payment of additional royalties based on sales.
Sure-Gro on signing, paid $500,000, with an additional payment to be made
based on gross margin achieved on sales to June 30, 2008. Sure-Gro also
has been granted the option to purchase the PNS brand for lawn and garden
products after 10 years for $2 million. Pursuant to the Corporation's
agreement with Perfectly Natural Solutions Inc. ("PNSI"), a portion of the
license payments was made directly to PNSI. The Corporation also has
entered into a battery products distribution agreement with Sure-Gro
separately announced today.
The Corporation currently offers 24 organic or environmentally advantaged
PNS products in five categories including herbicides, repellents,
antitranspirants, lawn fertilizers, and garden fertilizers. PNS products
are made with natural and organic ingredients the Corporation believes have
proven to be the most effective natural products available in the market.
In the multi-billion dollar lawn and garden industry, sales of organic
products have been growing at an estimated 25%-30% per year and are
expected to continue to accelerate.
"We are very pleased to be working with Pure Energy and their leading line
of environmentally responsible lawn and garden products," said John Hill,
President and CEO of Sure-Gro Inc. "Perfectly Natural Solutions is an
excellent brand with great products that are natural fits with our growing
line of consumer products. For 2008, Sure-Gro has secured promotions and
listings for Perfectly Natural Solutions(TM) lawn and garden products in
Canada with Rona, Wal-Mart, Canadian Tire, Lowes and Home Depot."
Paul Simmonds, Pure Energy's President and CEO, said, "This long-term
agreement with Canada's leading provider of lawn and garden products is a
major step in our plan to establish Perfectly Natural as a leading
international brand of environmentally advantaged products spanning many
product categories.
About Sure-Gro Inc.:
Sure-Gro is a leading supplier in the Canadian Home and Garden Industry
with a broad range of product categories, including fertilizer, grass seed,
controls, horticulture and ice melt products, under several brand names
including CIL, Golfgreen, Wilson, Green Earth and Alaskan. The Company
recently announced the purchase of the Canadian Division of Spectrum
Brands' Home and Garden division. Sure-Gro is a company formed by Roycap
Merchant Banking Group and Clarke Inc. (TSX: CKI).
About Pure Energy's Rechargeable Alkaline Batteries:
Pure Energy's advanced formula AA and AAA size Rechargeable Alkaline
batteries are the only rechargeable batteries that can be used in any
application that uses throw-away alkaline batteries. They can be recharged
hundreds of times leading to cost savings for consumers and less greenhouse
gas emissions and waste entering landfill compared to throw-away alkaline
batteries. Rechargeable Alkaline batteries do not contains heavy metals
such as cadmium or mercury and offer several performance and cost
advantages over other rechargeable batteries including an industry leading
7 year shelf life -- 40 times longer than regular rechargeable NiMH
batteries.
About Pure Energy Visions Corporation:
Pure Energy Visions Corporation is an international consumer and commercial
products corporation focusing on cost effective, environmentally
responsible products. The Company is a leading supplier of rechargeable
batteries and lawn and garden products sold under private label and under
the Pure Energy(TM) and Perfectly Natural Solutions(TM) brands and to
Original Equipment Manufacturers (OEM). Through a growing network of
strategic partners and distributors, products are sold in over 12 countries
by a number of leading retailers and OEM companies.
This news release may contain forward-looking statements. These statements
are based on current expectations and assumptions that are subject to risks
and uncertainties. Actual results could differ materially because of
factors discussed in the management discussion and analysis section of our
interim and most recent annual financial statements or other reports and
filings with the TSX Venture Exchange and applicable Canadian securities
regulators. We do not undertake any duty to update any forward-looking
statements.
The TSX Venture Exchange has neither approved nor disapproved of the
contents of this press release, and does not accept responsibility for the
adequacy nor accuracy of this information.
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