SOURCE: Transfer Technology International Corp.

Transfer Technology International Corp.

November 25, 2009 08:30 ET

Organic Products International Announces Letter of Intent to Acquire Two Eco-Friendly Companies in Related Industry

TAMPA, FL--(Marketwire - November 25, 2009) - Transfer Technology International (PINKSHEETS: TTIN), an emerging technology transfer company, announced the signing of a Letter of Intent today through its wholly owned subsidiary, Organic Products International, to purchase the San Diego-based corporations of Xtermite, Inc. and XT-2000, Inc., pending final negotiations.

Details of the terms and conditions specific to these acquisitions are not being disclosed at this time. Xtermite, Inc. is a registered Pest Control Operator (PCO) in the state of California that has successfully serviced over 15,000 homes in the San Diego area over the past 11 years utilizing eco-friendly orange treatments for dry-wood termite eradication. XT-2000, Inc. is also a California-based corporation that actually founded the EPA registered XT-2000 Orange Oil Plus product used to treat dry-wood termites. Over 100,000 homes have been successfully treated by various PCOs in California over the past 5 years using XT-2000 Orange Oil Plus. These acquisitions provide an opportunity to capture a much greater share of the multi-billion dollar annual pest control industry pertaining to termite eradication. For further information on the two companies please visit their sites at, and

Chris Trina, Chairman and CEO, states, "We are very excited to have this LOI in place and look forward to completing negotiations with the selling parties in the form of a definitive agreement by late December. I truly believe this represents the best approach to achieve our sales and profit goals for 2010, and that it will increase both visibility and credibility on Wall Street to further enhance shareholder value."

"The combined strength and growth potential of Xtermite and XT-2000 makes this an extremely attractive acquisition," stated George Merrell, Chief Operating Officer for Transfer Technology International and President of Organic Products International. "I very much look forward to relocating to San Diego post closing and working in a hands-on capacity as the new General Manager of Operations for both companies and assisting the Xtermite Team hit its full potential in Southern California and further expanding distribution of XT-2000 Orange Oil on both a national and international stage along with our other organic product lines. I have been involved in several mergers and acquisitions during my career and this union with these two sister companies makes solid business sense."

Michael and Anna Folkins, co-owners of both XT-2000 and Xtermite state, "We are both extremely excited at the prospects of this proposed acquisition being finalized. We believe that OPI is the perfect fit at the perfect time to take both of our companies to a completely higher level and to reach their full potential in a much shorter period of time. It also reinforces our vision of being a leader in Integrated Pest Management (IPM) by providing eco-friendly and 'green' solutions to both consumers and pest control operators around the world."

Additional information about Transfer Technology International Corp. (TTIC) (PINKSHEETS: TTIN) and Organic Products Int'l Corp. TTIC was formed to support research, development, and commercialization of cutting edge, socially responsible technologies. Product commercialization, technology transfer with world-class business partners and market penetration will provide the basis for superior financial returns. OPIC was formed as a wholly owned subsidiary of TTIC in early 2009 in an effort to aggressively pursue the multitude of agricultural and industrial organic product solutions initially within the pesticide, herbicide and fertilizer markets that are under extreme scrutiny from governments around the world.

Please visit our websites, and for more information.

Disclaimer and Forward-Looking Statements -- The information contained herein regarding risks and uncertainties, which may differ materially from those set forth in these statements, in addition to the economic, competitive, governmental, technological and other factors, constitutes a "forward-looking statement" within the meaning of Section 27A of The Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995 and is subject to the safe harbors created thereby. While the company believes that the assumptions underlying such forward-looking information are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the forward-looking information will prove to be accurate. Accordingly, there may be differences between the actual results and the predicted results, and actual results may be materially higher or lower than those indicated in the forward-looking information contained herein.

Contact Information

  • Contact:
    Mr. George Merrell
    (813) 600-4081