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Press
Release Archives: 04/18/2005
Itronics
Agrees to Acquire Exclusive Rights to GOLD'n GRO
Guardian Liquid Deer Repellent Fertilizers, a Potential
$50 Million Market
- White Tailed Deer do More Than $2 Billion Damage
Annually in the United States -
RENO, Nev., April 18 /PRNewswire-FirstCall/ -- Itronics
Inc. (OTC Bulletin Board: ITRO; Frankfurt and Berlin:
ITG) reported today that its subsidiary, Itronics
Metallurgical, Inc., has agreed to acquire ownership
interests in the GOLD'n GRO Guardian trademark, all
product rights, and the rights to the repelling product
formula used to make GOLD'n GRO Guardian from its joint
venture partner, Howland Green, President of Holly Ridge
Nursery Company, West Kingston, Rhode Island, the
founding member of the North American Deer Management
Network.
"GOLD'n GRO Guardian, which both repels animals while
not harming them, and fertilizes plants, was developed
as a result of a cooperative effort with the North
American Deer Management Network," said Dr. John
Whitney, Itronics President. "This trademark and product
acquisition is another step in our business plan to
expand the GOLD'n GRO product line and to establish
sales in the northeastern U.S. where damage to
landscapes by deer is especially prevalent."
During 2003 and 2004 field trials were conducted and the
liquid deer repellent fertilizer was shown to be
extremely effective both as a fertilizer and a repellent
when sprayed on plants and when put into the water used
to water plants. Deer repelling effectiveness was shown
to last up to three months after application. The GOLD'n
GRO Guardian repels deer and rabbits without harming
them while it improves the growth and appearance of the
fertilized plants.
During the second half of 2004 Itronics Metallurgical
evaluated the registration requirements and an
approximate schedule and budget for registering GOLD'n
GRO Guardian with the U.S. Environmental Protection
Agency. Assessment of the potential market for the
product was also made and it was determined that the
GOLD'n GRO Guardian would produce improved product
margins with potential for relatively rapid payback of
the dollars invested in the registration. The national
annual market for deer repellent products is estimated
to exceed $50 million.
Deer damage in the United States is a large and growing
problem. According to a report by Cornell Cooperative
Extension, Ithaca, N.Y., the deer population has grown
from 500,000 nationwide in the early 1900's to more than
15 million today. Annual estimates of deer damage are
reported to exceed $2 billion nationwide, including more
than $100 million in agricultural crop damage and more
than $250 million in damage to landscape plantings at
metropolitan households.
Itronics, through its subsidiary, Itronics
Metallurgical, Inc., is the only company in the world
with a "Beneficial Use Photochemical, Silver, and Water
Recycling" facility that extracts more than 99 percent
of the silver and virtually all the other toxic heavy
metals from used photoliquids and converts the resulting
liquids into environmentally beneficial, chelated,
multinutrient liquid fertilizer products sold under the
GOLD'n GRO trademark, and 5 troy ounce, 0.999 pure,
Silver Nevada Miner numismatic bars. The environmentally
friendly liquid fertilizers can be used for lawns and
houseplants, and are available, along with GOLD'n GRO
liquid fertilizer injectors, at the Company's "e-store"
catalog at http://www.goldngro.com. The popular Silver
Nevada Miner bars are available at the Company's
"e-store" catalog at http://www.itromet.com.
Headquartered in Reno, Nevada, Itronics Inc. is Nevada's
leading "Beneficial Use Recycling" company and a world
leader in photochemical recycling. The Company also
provides project planning and technical services to the
mining industry. Dr. John Whitney, Itronics President,
was selected as Nevada's Inventor of the Year for 2000
and is a member of the Inventor's Hall of Fame at the
University of Nevada, Reno. Itronics was one of five
finalists for the 2001 Kirkpatrick Chemical Engineering
Award, the most prestigious worldwide award in chemical
engineering technologies.
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VISIT OUR WEB SITE: http://www.itronics.com
(Statements in this press release may constitute
forward-looking statements and are subject to numerous
risks and uncertainties, including the failure to
complete successfully the development of new or enhanced
products, the Company's future capital needs, the lack
of market demand for any new or enhanced products the
Company may develop, any actions by the Company's
partners that may be adverse to the Company, the success
of competitive products, other economic factors
affecting the Company and its markets, and other risks
detailed from time to time in the Company's filings with
the Securities and Exchange Commission. The actual
results may differ materially from those contained in
this press release. The Company disclaims any obligation
to update any statements in this press release.) |
