Pacific Safety Products Inc.
TSX VENTURE : PSP

Pacific Safety Products Inc.

September 05, 2007 06:00 ET

Pacific Safety Products Inc. Announces Potential Acquisition

KELOWNA, BRITISH COLUMBIA--(Marketwire - Sept. 5, 2007) - Pacific Safety Products Inc. (TSX VENTURE:PSP) ("PSP" or "the Company") announced today it has signed a Letter of Intent to acquire the shares of APS Distributors Inc. of Bedford N.S., subject to satisfactory due diligence and a successful negotiation of a Purchase and Sale Agreement by the end of September 2007 at which time additional details will be provided. A closing date of 31 October 2007 is currently anticipated.

APS Distributors Inc. is a leading distributor of personal protective products and services for law enforcement agencies across Canada.

OVERVIEW OF THE BUSINESS

The mission statement of Pacific Safety Products Inc. is ...we bring everyday heroes home safely™. PSP is an established industry leader in the production, distribution and sale of high-performance and high-quality safety products for the defence and security market. These products include body armor to protect against ballistic, stab and fragmentation threats, ballistic blankets to reduce blast effects, and protective products against chemical and biological hazards. PSP is the largest armor manufacturer in Canada and supplies its products to the Canadian Department of Defence, Federal Government Agencies and major law enforcement organizations across the country. The Company, through its U.S. subsidiary Sentry Armor Systems Inc., provides body armor products to U.S. based law enforcement and private security firms. The Company also produces tactical clothing and emergency medical kits.

Pacific Safety Products is a reporting issuer in British Columbia, Alberta and Ontario, Canada and publicly trades under the symbol PSP on the TSX Venture Exchange.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Pacific Safety Products Inc.
    David Scott
    Chairman and Chief Executive Officer
    (250) 491-0911 or Toll Free: 1-888-PSP-ARMR (1-888-777-2767)
    (250) 491-0930 (FAX)
    Email: dscott@pacsafety.com
    Website: www.pacsafety.com