|
US Farms, Inc. Signs Definitive Agreement to Acquire EnergyAloe, Inc. |
|
Tuesday December 2, 8:00 am ET |
|
New Product Projected to Bring Total Sales to Over $10 Million in 2009 |
|
SAN DIEGO, Dec. 2 /PRNewswire-FirstCall/ -- US Farms, Inc. (OTC Bulletin Board: USFM - News), a diversified commercial Farming and Nursery company, today announced that it has entered into a definitive agreement to acquire EnergyAloe, Inc. The merger is anticipated to close by the first quarter of 2009, conservatively, at which time EngeryAloe, Inc. will operate as a wholly-owned subsidiary of US Farms, Inc. The transaction is subject to further due diligence and will require additional financing. |
|
"The proposed merger of EnergyAloe, Inc. and US Farms, Inc. will create the foundation for our company to increase our projected annual sales to over $10 million in 2009, while taking a position in the booming $6 Billion U.S. energy market," commented Yan Skwara, CEO of US Farms, Inc. "Worldwide, consumers are increasing their consumption of whole foods and natural energy boosters in their pursuit of healthier living. EnergyAloe, Inc.'s proprietary formulation is the first whole food liquid nutritional product designed to support healthy energy levels, stamina and endurance, without the use of synthetic, 'man made' ingredients. EnergyAloe, combined with our large-scale AloeVera production capacity, is the beginning of our vast growth potential within the finished goods sector of Aloe Vera. We look forward to continuing to build and develop a fully integrated farming and nursery company that grows, manufactures, markets and sells a number of commercial products." |
|
While regular energy drinks are full of refined sugar and man-made ingredients, EnergyAloe is based on whole food ingredients and will be exclusively "Made in the USA" using Aloe Vera grown on US Farms, Inc.'s farm acreage located in Imperial Valley, California. US Farms, Inc. will use its strong infrastructure of distributors, marketing and sales team to bring EnergyAloe in a 32oz bottle direct to consumers. |
|
About US Farms, Inc. |
|
US Farms, Inc. is a diversified commercial Farming and Nursery company. The company currently grows, markets and distributes horticultural products through a number of its wholly owned subsidiaries. US Farms, Inc. is currently one of the largest domestic growers of Aloe Vera, growing well over 6 million pounds annually. The company plans to further its vertically integrating path by moving into the marketing and sales of Aloe Vera based products. The company's products are sold through supermarkets, home centers, retail merchandisers, garden centers, mail order, direct sales, re-wholesalers, and landscapers throughout the United States and Canada. Through internal growth and strategic acquisitions the company is expanding its market share in its businesses.For more information on US Farms, Inc., please visit http://www.usfarmsinc.com. US Farms, Inc. is publicly traded on the over-the- counter market under the ticker symbol USFM.OB. |
|
Safe Harbor |
|
This press release contains forward-looking statements within the meaning of the Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements." |
|
Such statements are based on expectations, estimates and projections at the time the statements are made and involve a number of risks and uncertainties, including, but not limited to, our ability to produce and market a nutraceutical Aloe Vera based energy supplement in the United States; acceptance by the market of an Aloe Vera nutraceutical supplement; continued popularity of the energy drink marketplace; the continued production of Aloe Vera products; the Company's ability to develop an energy drink from a whole food source; the expansion and growth of farming and nursery products; ability to raise additional capital; the impact of competitive products; product demand; fluctuations in operating results and other risks detailed from time to time in US Farms, Inc.'s filings with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual outcomes may vary materially from those indicated. US Farms undertakes no obligation to revise or update such statements to reflect current events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. |
|
Contact: |
|
Investor Relations http://www.energyaloe.com |