SOURCE: Flexible Solutions International, Inc.

January 10, 2008 13:23 ET

FSI Closes Purchase of Land and Building in Alberta, Canada

And Wins Court Case -- 100,000 Shares Will Be Cancelled

VICTORIA, BC--(Marketwire - January 10, 2008) - FLEXIBLE SOLUTIONS INTERNATIONAL, INC. (AMEX: FSI) (FRANKFURT: FXT) is the developer and manufacturer of biodegradable and environmentally safe water and energy conservation technologies, as well as anti-scalant technology. The Company announces today the closing of the property purchase in Alberta, Canada.

The purchase price of the land and building was $1.325 million. The acquisition includes 3.2 acres of industrial land and a 55,000 sq.ft. building. Industrial land in the area currently sells for more than $150,000 per acre. New building construction cost is approximately $80/sq.ft.

"This is a significant purchase for Flexible Solutions both in terms of market value of the asset and location near the raw material input for the new facility," states CEO, Dan O'Brien. He goes on to say, "The conversion and renovation of the building had already begun in advance of the actual take over date. It is expected that partial production from the facility will begin during the summer of 2008. Aspartic acid from this facility will be shipped to FSI's poly-aspartic acid (TPA) plant, in Illinois. A significant increase in profit margins and reduced shipping costs are expected upon start-up of this facility. The size of this building will allow tripling of production to 15,000 tons per year as sales increase."

The Taber, AB plant will use renewable inputs (sugar beet juice) to produce organic aspartic acid that will be processed into TPA in Illinois and sold to oilfield scale control, green detergent, water treatment and agricultural users. TPA has been proven by US government authorities to increase crop yields by 10% or more on 50 different crops from sugar beet to corn, wheat and soybeans by adding as little as 2 quarts per acre. Recent rises in crop and fertilizer prices make using TPA very profitable on almost every acre of cropland in North America. By substituting sugar for oil as the starting material, FSI is completing a green circle where one crop provides the input to make other cropland more productive.

Further news is with respect to the lawsuit between FSI and Tatco that dates back several years (see notes to the financial statements). FSI has won its lawsuit against Tatco and therefore the return of 100,000 FSI shares. No further action will be taken and the law suit is concluded. The 100,000 shares are no longer authorized which reduces total shares issued and outstanding.

About Flexible Solutions International

Flexible Solutions International, Inc. (www.flexiblesolutions.com), based in Victoria, British Columbia, Taber Alberta and Chicago IL is an environmental technology company specializing in energy and water conservation products for drinking water, agriculture, industrial markets and swimming pools throughout the world. FSI is the developer and manufacturer of WaterSavr, the world's first commercially viable water evaporation retardant. WaterSavr reduces evaporation by up to 30% on reservoirs, lakes, aqueducts, irrigation canals, ponds and slow moving rivers. Heatsavr, a "liquid blanket" evaporation retardant for the commercial swimming pool and spa markets, reduces energy costs by 15% to 40% and, further results in reduced indoor humidity. The Company's Ecosavr product targets the residential swimming pool market. The Company's Nanochem Solutions, Inc., subsidiary specializes in environmentally friendly, green chemistry, water-soluble products utilizing thermal polyaspartate (TPA) biopolymers. TPA beta-proteins are manufactured from the common biological amino acid, L-aspartic acid.

Safe Harbor Provision

The Private Securities Litigation Reform Act of 1995 provides a "Safe Harbor" for forward-looking statements. Certain of the statements contained herein, which are not historical facts, are forward-looking statement with respect to events, the occurrence of which involve risks and uncertainties. These forward-looking statements may be impacted, either positively or negatively, by various factors. Information concerning potential factors that could affect the company is detailed from time to time in the company's reports filed with the Securities and Exchange Commission.

If you have received this news release by mistake or if you would like to be removed from our update list please reply to: monique@flexiblesolutions.com

To find out more information about Flexible Solutions and our products please visit www.flexiblesolutions.com.

Flexible Solutions International
615 Discovery Street
Victoria, BC
V8T 5G4 CANADA

Contact Information

  • Company Contacts:

    Jason Bloom
    Tel: (250) 477-9969
    Toll Free: 800-661-3560
    Fax: (250) 477-9912

    Email: Email Contact