SOURCE: Parafin Corporation

March 13, 2008 09:00 ET

Former Bottled Water CEO to Head ParaFin Corporations New Entity "Smokeless Inc."

PALM SPRINGS, CA--(Marketwire - March 13, 2008) - ParaFin Corporation (PINKSHEETS: PFNO) today appointed Elwood Sprenger as CEO of "Smokeless Inc.," a wholly owned subsidiary of Parafin dedicated to the development, distribution and branding of "smokless" cigarette products under an exclusive North America Distribution Agreement between ParaFin and Rauchless Inc., the Patent holder and owner of the "smokeless" cigarette.

Mr. Sprenger, formerly CEO and majority owner of Calistoga Mineral Water, stated, "The market potential for a smokless cigarette is staggering. The United States and even Europe are in the process of following California in adopting strict laws with regards to smoking and curtailing the dangers of secondhand smoke." Some of the past accomplishments of Mr. Sprenger are:

Calistoga - Chairman CEO Majority Owner. Developed water business into 37 states and 5 countries achieving 55% share of market. Merged with Perrier and continued on as CEO developing strategic and equity relationships into improved business growth and profitability. Maintained ownership of water source supplying Calistoga for the past 27 years. Perrier - Developed new business products: Flavored water, Juice water and other assorted products into worldwide distribution. Privately owned and operated bulk water transport company supplying Arrowhead water from all their sources (Including one of the largest water sources in the United States (owned by them)) for the last fourteen years. Helped develop first PET plastic bottle used in water sales -- now the standard in the industry.

Sid Fowlds, President of Parafin Corporation, stated, "Mr. Sprenger shares our vision as to the potential of the 'smokeless' cigarette and what the future could hold for Parafin with the potential for an environmentally perfect cigarette product. I believe he has the experience and energy to create a company with greater potential than what he accomplished with Calistoga."

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. Technical complications that may arise could prevent the prompt implementation of any strategically significant plan(s) outlined above. The company cautions that these forward-looking statements are further qualified by other factors including, but not limited to those, set forth in the company's Form 10-KSB filing and other filings with the United States Securities and Exchange Commission (available at www.sec.gov). The company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise.

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