SOURCE: Produce Safety & Security International, Inc.

June 27, 2005 08:00 ET

Produce Safety and Security International, Inc. Announces Letter of Intent to Purchase a 100,000 Sq/ft Facility in Arizona and Board Approval for Reduction of Authorized Shares

PRESCOTT, AZ -- (MARKET WIRE) -- June 27, 2005 -- Produce Safety & Security International, Inc. (OTC: PSDC) (formerly (OTC: PDSS)) is pleased to announce the company has entered into a letter of intent for the purchase of a 100,000-plus-square-foot Facility in Prescott, Arizona. The company has submitted an offer for the purchase of the 100,000-square-foot facility.

Clarence W. Karney, CEO of Produce Safety & Security, states that this facility will house the company's Corporate Offices, Food Safe Risk Reduction Process, Reconditioning and Cross Docking Operation, Spherequat/Medic-Kleen Western Distribution, Biodegradable Fruit-Tray Operation, a Showroom for all products, Truck Sanitation Process, Food Brokerage Operation, GIS Inspection Operation, Home Unit Marketing, Food Safety & Risk Reduction Training and Food Safety Audits. This facility is expected to employ over 400 employees and efficiently provide service to the majority of the company's West Coast clients.

It is intended that PDSC will provide deliveries of PSSI/GSI Certified Product to their contract clients daily, and that this Facility will be the model for planned future distribution center openings which meet all the requirements of Food Safety and Risk Reduction Program.

The Board of Directors has also approved a reduction of authorized shares for the company. Authorized shares will be reduced from the current 12 billion shares authorized down to 27 million shares.

About Produce Safety and Security International, Inc.

Produce Safety and Security intends to eliminate food safety and sanitation issues and provide methods to improve procedures to minimize risk and liability. Produce Safety and Security's comprehensive program is a proactive approach to food safety. The Company intends to offer a variety of products and services that provide safer food & produce products, better quality, reduce shrinkage, and enhance shelf life.

Safe Harbor Forward-Looking Statements

Statements contained in this release that are not strictly historical are "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933 as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The forward-looking statements are made based on information available as of the date hereof, and the company assumes no obligation to update such forward-looking statements. Editors and investors are cautioned that such forward-looking statements invoke risk and uncertainties and the company's actual results may differ from these forward-looking statements. Such risks and uncertainties include but are not limited to demand for the company's products and services, our ability to continue to develop markets, general economic conditions, our ability to secure additional financing for the company and other factors that may be more fully described in reports to shareholders and periodic filings with the Securities and Exchange Commission.

Contact Information

  • Contact:
    David Van Vort
    Capital Group Advisors, Inc.
    Tel: (954) 453-1171
    (786) 277-3484