ENVIROTECHNOLOGIES SYSTEMS INC.

March 09, 2005 15:55 ET

enviroTechnologies Systems Inc. Announces Acquisition of Shares


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: ENVIROTECHNOLOGIES SYSTEMS INC.

MARCH 9, 2005 - 15:55 ET

enviroTechnologies Systems Inc. Announces Acquisition
of Shares

HOUSTON, TEXAS--(CCNMatthews - March 9, 2005) - enviroTechnologies
Systems Inc. (the "Shareholder"), 2950 North Loop West, Suite 548,
Houston, TX 77092, U.S.A., is pleased to announce that it has subscribed
for 100,000 preferred shares ("Preferred Shares") of Agritec Systems
Inc. (TSX Venture: AGR) ("AgriTec") at a subscription price of US $1.00
per Preferred Share. Each preferred share is convertible into 2 listed
common shares of AgriTec. Assuming conversion of the Preferred Shares,
the Shareholder has acquired and beneficially owns 11,639,357 common
shares of AgriTec, representing 69.62% of AgriTec's issued and
outstanding voting securities as of this date and 56.62% of AgriTec's
common shares on a fully diluted basis. The Preferred Shares were
purchased by way of private placement and not through the facilities of
a stock exchange or other published market. Immediately prior to the
acquisition of the Preferred Shares, the Shareholder owned 9,839,357
common shares and 800,000 Preferred Shares of AgriTec.

The Shareholder has filed a report with the Securities Commissions of
Alberta and British Columbia disclosing its ownership of 10% or more of
AgriTec's issued and outstanding share capital. There is no agreement,
commitment or understanding, whether formal or informal, between the
Shareholder and any other person to acquire shares of AgriTec or to
exercise voting rights attaching to the securities of AgriTec. The
Shareholder acquired the Preferred Shares for investment purposes, and
presently has no intention of acquiring any further securities of
AgriTec. However, the Shareholder may acquire ownership or control over
further securities of AgriTec in the future, depending upon market and
other circumstances.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    enviroTechnologies Systems Inc.
    C.W. Wellen
    President
    (713) 651-5295
    Email: cwellen@fulbright.com
    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release.