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Press
Release Archives: 07/19/2005
Itronics Obtains $3.25
Million Financing
RENO, Nev., July 19 /PRNewswire-FirstCall/ -- Itronics
Inc. (OTC Bulletin Board: ITRO; Frankfurt and Berlin
Stock Exchanges: ITG) reported today that it has entered
into an agreement with four accredited and institutional
investors for up to an aggregate of $3,250,000 in gross
proceeds that will be used to advance its eight part
business strategy which was summarized in its press
release on June 3, 2005. The Company is represented by
Sichenzia Ross Friedman Ference LLP in this financing.
The financing provides working capital to expand GOLD'n
GRO fertilizer sales, Environmental Protection Agency
registration of GOLD'n GRO Guardian, certain capital
improvements to expand production capacity, all pursuant
to the Company's business plan, and payment of existing
debt obligations.
The financing is being funded as follows: (i) $1.25
million in gross proceeds, (ii) $1.0 million in gross
proceeds payable upon filing of a registration statement
with the Securities and Exchange Commission (SEC), and
(iii) $1.0 million in gross proceeds payable at the time
the registration statement becomes effective. For more
details refer to the Company's Form 8-K filed today with
the SEC at http://sec.gov.
"We are pleased with the financing," said Dr. John
Whitney, Itronics President. "We believe that this
funding strengthens the Company and will make it
possible for us to speed up implementation of our
business plan."
About Itronics
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://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.
VISIT OUR WEB SITE: http://www.itronics.com
("Safe Harbor" Statement under the Private Securities
Litigation Reform Act of 1995: This press release
contains or may contain forward-looking statements such
as statements regarding the Company's growth and
profitability, growth strategy, liquidity and access to
public markets, operating expense reduction, and trends
in the industry in which the Company operates. The
forward-looking statements contained in this press
release are also subject to other risks and
uncertainties, including those more fully described in
the Company's filings with the Securities and Exchange
Commission. The Company assumes no obligation to update
these forward-looking statements to reflect actual
results, changes in risks, uncertainties or assumptions
underlying or affecting such statements, or for
prospective events that may have a retroactive effect.) |
