SOURCE: Agronix, Inc.

August 09, 2005 08:08 ET

Agronix Executes Funding Letter of Intent

Agronix, Inc. Has Signed a Letter of Intent to Form a Joint Venture to Build First European Plant

LOS ANGELES, CA -- (MARKET WIRE) -- August 9, 2005 -- Agronix, Inc. (OTC BB: AGNI) is pleased to announce it has entered into a Letter of Intent and Agreement of Cooperation with Circadian Group LLC, based in Utah, USA, to joint venture and fund the technology transfer of Agronix's proprietary technology and develop a business and operating model in Europe.

Agronix' Agent, Mr. Bruno Steinhauser, is working in conjunction with the Joint Venture parties.

Circadian Group LLC's Partner, James Bentley, stated, "We believe Agronix has the sustainable technology and business model to economically tackle the global problem of contamination created by organic waste. Circadian looks forward to being actively involved in this environmental initiative."

Agronix, Inc. President, Brian Hauff, explained, "We have been working with Circadian Group for over 2 years and are impressed with their commitment and support of the company's vision."

About Agronix

Agronix is a recognized leader in innovative organic waste management technology.

Agronix's Global Organic Systems, (GO Systems) are made up of many proprietary technologies that can be operated independently or in conjunction with one another. These technologies convert organic waste into fully sanitized and bio-stabilized organic matter.

The GO Systems accept (process) most organic commercial waste types such as animal manures, sewer sludge, crop residues and residues from industrial food processing.

The GO Systems kill harmful pathogens such as SARS, avian flu and meningitis, and convert heavy metals into a water-insoluble form, rendering them harmless to the food cycle.

The GO Systems produce exceptionally high-quality organic fertilizer and soil amendments, which are far superior to the existing alternatives.

Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the Company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

Contact Information

  • Contact:
    Brian Hauff