Pacific Safety Products Inc.
TSX VENTURE : PSP

Pacific Safety Products Inc.

March 05, 2012 09:41 ET

Pacific Safety Products Inc. Announces Termination of Letter of Intent to Sell Substantially All of its Assets

ARNPRIOR, ONTARIO--(Marketwire - March 5, 2012) - Pacific Safety Products Inc. (TSX VENTURE:PSP) ("PSP" or the "Company"), a North American manufacturer of advanced armour and personal protection solutions, today announced that the letter of intent with Sun Capital Partners to sell substantially all of its assets, and the associated exclusivity period, has been terminated. The letter of intent was initially announced by PSP on January 23, 2012.

About PSP:

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 armour to protect against ballistic, stab and fragmentation threats, ballistic blankets to reduce blast effects, tactical clothing, and protective products against chemical and biological hazards. PSP is the largest body armour manufacturer in Canada, directly supplying the Canadian Department of National Defence, Federal Government Agencies and major Canadian law enforcement organizations. The Company, through its U.S. subsidiary Sentry Armor Systems Inc., provides body armour products under the GH Armor Systems® brand to U.S. based law enforcement and private security firms. The Company also produces tactical clothing. 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.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Douglas Lucky
    Chief Executive Officer
    Pacific Safety Products Inc.
    (613) 623-6001
    www.pacsafety.com