FreshXtend Technologies Corp.

FreshXtend Technologies Corp.

July 19, 2005 09:30 ET

FreshXtend Announces Technology License with Welch Foods Inc.

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - July 19, 2005) - FreshXtend Technologies Corp. ("FreshXtend") (TSX VENTURE:FXT) wishes to announce that they have entered into a 10 year renewable world-wide Technology License with Welch Foods Inc. ("Welch's") of Concord, Massachusetts to provide FreshXtend's fresh-cut fruit technologies and processes to Welch's to develop a range of retail fruit products starting with the launch of a single serve "grapes on the vine" in a 5-ounce sealed plastic cup. These 5-ounce cups will be marketed containing both red and green varieties with production beginning in mid-July from the Country Fresh plant in Orlando. This initial launch will be rolled out US wide over the next few months and other cup sizes and fruit products will follow the initial product launch.

Country Fresh is an existing technology client of FreshXtend and it was FreshXtend that brought the parties together into a partnership which will play to the strengths of all three parties: namely Welch's marketing, Country Fresh's production and FreshXtend's technology. As a result of this partnership, some of the technology rights formerly held by Country Fresh have been transferred to Welch's and this revised agreement is still subject to completion. Overall this is seen by the parties as a win-win result and an exciting new development of healthy fresh fruit convenience products for the health conscious consumer.

In a separate press release, Paul Klutes, product manager, New Ventures, for Welch's said that this new grapes on the vine cup "is perfect for people who want more fresh fruit in their diet and are looking for an easy and convenient solution. Consumers have told us in focus groups that grapes on the vine connote that fresh picked taste."

Perry Lidster, Ph.D, Chief Operating Officer and President, FreshXtend, said: "This is an exciting new opportunity for the Company to work in partnership with a major brand such as Welch's and our goal is to deliver the same high quality eating experience consumer's would expect from buying a fresh bunch of Welch's grapes recently harvested."

FreshXtend Technologies Corp. (FXT) is a leading provider of life extension technology to the high growth Fresh Produce and Flower Industry and uses its technological leadership to pursue licensing opportunities. The Company's patented technologies extend shelf life through all natural processes with no artificial additives, preservatives, chemicals, genetic alterations or irradiation. FreshXtend's fruit and vegetable life extension technologies maintain the quality and shelf life of fresh produce, flowers and juices, thereby enabling economic distribution of premium quality vine-ripened fruit and vegetables. The Company has a network of R&D relationships, which include the University of British Columbia and focuses on building features that will appeal to FreshXtend's customers in order to gain a competitive edge in the marketplace. The Company continues to pursue licensing opportunities through grower/processor channels as a way of maximizing the distribution for its technologies.

Trading symbol: FXT (TSX-V)

Manual Listing S & P's Industrial & Int'l, 12g (3)b Exemption: #82-2190

The statements in this news release may contain certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Exchange Act of 1934 and are subject to the safe harbour created by these sections. Actual results may differ materially from the Company's expectations.

The TSX Venture Exchange has neither approved nor disapproved the contents of this news release.

Contact Information

  • FreshXtend Technologies Corp.
    R.W. Robinson
    (604) 322-0759
    (604) 322-0487 (FAX)
    FreshXtend Technologies Corp.
    Perry Lidster, Ph.D.
    (604) 322-0759
    (604) 322-0487 (FAX)