Smart-Tek Solutions Inc.
OTC Bulletin Board : STTN

Smart-Tek Solutions Inc.

September 17, 2009 09:00 ET

Smart-Tek Signs Initial Strategic Marketing Partner Agreement and Appoints New President

RENO, NEVADA--(Marketwire - Sept. 17, 2009) - Smart-Tek Solutions Inc. (the "Company") (OTCBB:STTN) is pleased to announce that they have entered into a strategic marketing partner agreement with a private U.S. based company through their wholly owned subsidiary, Smart-Tek Automated Services, Inc. ("Smart-Tek Automated"), pursuant to which the Company agreed to provide certain human resource and staffing services to its strategic partner. The partner will in turn market Smart-Tek Automated's services. The agreement is expected to generate an estimated $25 million in annualized revenues and $5 million in net revenue to the Company.

The agreement was entered into in connection with the Company's new line of business providing integrated and cost-effective management solutions in the area of human resources for public and private companies as announced in the Company's news release on June 23, 2009. Under the direction of Brian Bonar, a staffing industry veteran, Smart-Tek Automated Services, Inc. provides all human resource and financial services to client employees. The services feature advising in coaching in recruitment, training and discipline and payment of employee wages, payroll taxes, state and federal unemployment insurance, claims, and workers compensation premiums. Smart-Tek can also provide recruitment, reference checks, initial interviews, pre-employment and random drug testing, and criminal background investigations.

Also in connection with the Company's change in business focus, the Company has appointed Brian Bonar as President of the Company effective September 14, 2009. Brian Bonar stated, "Smart-Tek Automated Services is able to provide the kind of top-quality human resource solutions typically found in a Fortune 500 company." Bonar further stated, "We aim to provide business with highly trained HR and workers compensation support, as well as a wide array of employee benefits."

About Smart-Tek Solutions Inc:

Smart-Tek Solutions Inc.'s wholly owned subsidiary Smart-Tek Automated Services, Inc., was formed in February 2009, provides financial services to small and medium-size businesses, relieving its clients from many of the day-to-day tasks that impact their core business operations, such as payroll processing, human resources support, workers' compensation insurance, safety programs, employee benefits, and other administrative and aftermarket services predominantly related to staffing -- staff leasing, temporary staffing and co-employment. We not only provide core services but a wide selection of employee and employer benefits and aftermarket products.

Forward Looking Statements

Statements in this press release that are not historical facts are forward-looking statements, including statements regarding future revenues and sales projections, plans for future financing, the ability to meet operational milestones, marketing arrangements and plans, and shipments to and regulatory approvals in international markets. Such statements reflect management's current views, are based on certain assumptions and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to, our ability to obtain additional financing that will allow us to continue our current and future operations and whether demand for our products and services in domestic and international markets will continue to expand, the inherent uncertainty of financial estimates and projections, the competitive and regulatory environment, the impact, if any, of stock-based compensation charges, the potential failure to establish and maintain strategic relationships, inability to integrate recent and future acquisitions, inability to develop new products or product enhancements on a timely basis, inability to protect our proprietary rights or to operate without infringing the patents and proprietary rights of others, and quarterly and seasonal fluctuations in operating results, and any inability to meet customer demands in connection with the Company's payroll services. The Company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in the Company's expectations with regard to these forward-looking statements or the occurrence of unanticipated events. Factors that may impact the Company's success are more fully disclosed in the Company's most recent public filings with the U.S. Securities and Exchange Commission ('SEC'), including its annual report on Form 10-K for the year ended June 30, 2008, and its subsequent filings with the SEC.

Contact Information

  • Smart-Tek Solutions Inc.
    Brian Bonar
    (604) 270-2084