SOURCE: Itronics Inc.

April 18, 2008 05:00 ET

Itronics Management Urges Shareholders to Support Proposal to Increase Authorized Common Shares

RENO, NV--(Marketwire - April 18, 2008) - Itronics Inc. (OTCBB: ITRO) (FRANKFURT: ITG) (BERLIN: ITG) management today urged shareholders to vote FOR management's proposal to increase the Company's authorized shares of common stock.

In order to cover future contingencies, including future financings, business acquisitions, and technology acquisitions, and to provide for the Company's Securities Purchase Agreement as described in the Company's Proxy Statement that was previously mailed to shareholders, page 10, Itronics will be required to authorize and issue a greater number of shares of our Common Stock than are presently available. Consequently, the Company's Board of Directors has determined to increase the authorized share capital to twenty billion shares of common stock. Itronics has no current intention or commitment to issue an amount of shares in excess of the one billion shares currently authorized, other than under the terms of the Securities Purchase Agreement and other outstanding warrants and options.

"Shareholders should understand that if the Company is not able to increase the authorized shares, it risks being in default under the terms of the Securities Purchase Agreement, as explained in the Proxy Statement. It is important that our shareholders understand how important it is to give the Company approval to increase the authorized shares," said Dr. John Whitney, President.

The Board of Directors has unanimously approved and unanimously recommends that the Stockholders ratify the authorization of an increase in our authorized share capital to twenty billion shares of Common Stock.

From inception through year-end 2007, the Company cumulatively invested approximately $30 million to create and begin commercializing its innovative photochemical recycling technology that completely converts the waste stream to pure silver and environmentally compatible, high quality GOLD'n GRO liquid fertilizers and GOLD'n GRO Guardian deer repellent fertilizer. Today, at a time when the economy is soft and weakening, the markets for the Company's products and services are strong and growing. Silver is trading at historical highs. The demand for fertilizer has increased sharply this year and prices are at historical highs with continuing strong demand growth and price increases predicted. Gold is trading at historical highs.

"With the Company's market cap at about $5 million, having invested $30 million to get to this point, and being a 'truly green company' with proven operating technology in markets that are stronger than they have been in history, it is my opinion that this is the time for investors to support the Company and help it succeed," said Dr. Whitney.

The Special Meeting of Stockholders is scheduled for May 6, 2008 at 10:00 a.m., at the Reno-Sparks Convention Center, 4590 S. Virginia St., Reno, Nevada, in Room A13. "Shareholders who have voted against the proposal should understand that they can retract that vote and revote prior to the meeting. They should contact Jerry Mucha, at Morrow & Co. LLC, the proxy solicitor, toll free at (800) 662-5200 for assistance or by contacting their stockbroker representing the brokerage account in which their shares are held. I can't emphasize strongly enough how important that approval is to our Company's future," Dr. Whitney said.

About Itronics

Headquartered in Reno, Nevada, Itronics Inc. is a "Creative Environmental Technology" company. Itronics, through its subsidiary, Itronics Metallurgical, Inc. is the only company with a fully permitted "Beneficial Use Photochemical, Silver, and Water Recycling" plant in the United States that can convert used photoliquids into pure silver and GOLD'n GRO liquid fertilizers. The Company also provides environmentally compatible mining technology development, project planning, and technical services to the gold mining industry and operates the popular InsideMetals.com web site, http://www.insidemetals.com. which provides a value-added WORLD VIEW of Gold Producer Stocks, Mineral Producer Stocks, Junior Gold Stocks, and Junior Mineral Stocks. Itronics has received numerous domestic and international awards that recognize its ability to successfully create and implement new environmentally compatible recycling and fertilizer technologies.

The Company's environmentally friendly GOLD'n GRO liquid fertilizers can be used for lawns and houseplants, and are available, along with liquid fertilizer injectors, at the Company's "e-store" catalog at http://goldngro.com. The popular Silver Nevada Miner bars are available at the Company's 'e-store' catalog at http://www.itromet.com.

VISIT OUR WEB SITE: http://www.itronics.com

("Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: This press release contains or may contain forward-looking statements such as statements regarding the Company's growth and profitability, growth strategy, liquidity and access to public markets, operating expense reduction, and trends in the industry in which the Company operates. The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those more fully described in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update these forward-looking statements to reflect actual results, changes in risks, uncertainties or assumptions underlying or affecting such statements, or for prospective events that may have a retroactive effect.)

Contact Information

  • Contact:
    Paul Knopick
    888-795-6336