Conforce International Provides Update on Definitive Agreement
SOURCE:
Conforce International, Inc.
2008-07-31 08:22:00
Conforce International Provides Update on Definitive Agreement
TORONTO–(EMWNews – July 31, 2008) – Conforce International, Inc. (
(“Conforce” or the “Company”) announced today that in connection with the
Letter of Intent (LOI) it received from a
US-based supplier of special purpose custom containers to the United States
Military, the status of the definitive agreement between the parties
remains unchanged.
According to a press release issued on May 28, 2008, Conforce received an
LOI from a
US-based Military contractor for the purchase of the Company’s newly
developed composite product specifically designed for use in specialized
United States Military containers. The LOI contemplates a
multi-year contract whereby Conforce will provide product for a minimum of
10,000 special application containers.
According to the company’s US Military contractor, the awarding of the
contract has been delayed pending administrative clarifications.
Notwithstanding the delay, Conforce continues its production preparations
and remains extremely confident that the definitive agreement between the
parties will be executed in the very near term. In the event that the
agreement has not been executed by August 19, 2008, the Company will
provide shareholders and interested parties with an update as to the status
of the negotiations.
About Conforce International
Management of the Company has been in the shipping container business for
over 25 years. Conforce operates a multi-acre, full service container
Terminal that provides storage, handling, repair and transport to
International Shipping Lines. In addition to its core terminal business,
the Company has, since 2001, been in development of a composite material
designed to change the way shipping containers and highway trailers are
made. The environmentally-friendly product, registered as EKO-FLOR, has
been certified by the American Bureau of Shipping for use in shipping
containers worldwide. The Company has received container and trailer orders
and has commenced customer evaluations of the product. The Company’s
objective is to provide a suitable alternative to the wood floors currently
used in containers and trailers. Conforce research indicates that the
specific wood required for container flooring is rapidly depleting and that
a suitable alternative is in high demand. For more information on the
Company, please visit their website at: www.conforce1.com.
Safe Harbor Act Disclaimer: Forward-looking statements in this release are
made pursuant to the Safe Harbor Provisions of the Private Securities
Litigation Reform Act of 1995. Certain statements in this press release may
contain words such as “anticipates,” “believes,” “could,” “estimates,”
“expects,” “intends,” “may,” “projects,” “targets” and other similar
language and are considered forward-looking statements. These statements
are based on management’s current expectations, estimates, forecasts and
projections about the success of its newly developed container and trailer
flooring products, as well as certain other composite based flooring
products in various stages of development. These forward-looking statements
are subject to important assumptions, risks and uncertainties, which are
difficult to predict and therefore the actual results may be materially
different from those discussed.
| CONTACT: Kathryn Saliani Investor Relations (416) 234-0266 ext. 6 EMAIL: [email protected] WEB-SITE: www.conforce1.com |
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