FLEXIBLE SOLUTIONS TO ACQUIRE 20% OF TATKO BIOTECH INC.
Synergies Between Two Companies Expected to Yield New Products For Enhancing Crop Yield
VICTORIA, BRITISH COLUMBIA, MAY 5, 2003 – FLEXIBLE SOLUTIONS INTERNATIONAL, INC. (AMEX: FSI, FRANKFURT: FXT), the developer and manufacturer of Water$avr, the first commercially viable water evaporation retardant in the world, today announced that it has agreed to acquire 20% of Tatko Biotech Inc., a privately held Peoria, Ill., biotech company.
“This investment will bring together our expertise in self-spreading mono-layer water evaporation retardant delivery platforms with Tatko’s biotechnologies that increase crop yield by enhancing the naturally present soil micro-organisms required by growing plants,” stated Daniel B. O’Brien, Chief Executive Officer of Flexible Solutions. “We are pleased to have this opportunity to expand our product and knowledge base while maintaining our focus on conservation of valuable water resources.”
Tatko holds patents to environmentally beneficial organisms and preferred methods of manufacture. These organisms have proven to increase crop yield by up to 40% in trials held at a major Illinois university from 1998 through 2002. Flexible Solutions manufactures and markets Water$avr, which is currently positioned as a patented self-spreading evaporation reduction tool that can reduce fresh water loss from open water storage and transport.
Dr. T.V. Red’kina Chief,Scientist of Tatko and Dr. R.N. O’Brien, the Chief Scientist and founder of Flexible Solutions, intend to collaborate on finding ways of using Water$avr as an effective and economic spreading platform for Tatko’s crop enhancement products. Research will begin as soon as the agreement is formally closed, which is expected by May 31st 2003.
“Our research is targeting a product directed at the 450-million-acre, $4.9 billion flood irrigation marketplace that will have the twin attributes of reducing water use and increasing crop yield,” stated Mr. O’Brien, the CEO. “The combined lineup of FSI and Tatko will result in a formidable team with the talent and expertise for undertaking this project.”
About Flexible Solutions International
Flexible Solutions International, Inc. (www.flexiblesolutions.com), the developer and manufacturer of the world’s first commercially viable water evaporation retardant, is an environmental technology company specializing in energy and water conservation products for drinking water, agriculture, industrial markets and swimming pools throughout the world. Water$avr reduces evaporation by up to 30% on reservoirs, lakes, aqueducts, irrigation canals, ponds and slow moving rivers. Water$avr, which is patented, has been certified by the United Nations, the National Sanitation Foundation (NSF) and meets the drinking water standards of the American National Standard Institute (ANSI). Heat$avr, a “liquid blanket” evaporation retardant for the commercial swimming pool and spa markets, also reduces humidity and lowers water heating costs, resulting in energy savings of 15% to 40%. The Company’s Tropical Fish(tm) product targets the residential swimming pool market.
THE WALL STREET GROUP, INC.
32 East 57th Street
New York, New York 10022
Jens Biertumpel
(212) 888-4848 604-682-1799
Company Contacts:
David Katzov or Grant Moonie
250-477-9821
The Private Securities Litigation Reform Act of 1995 provides a “Safe Harbor” for forward-looking statements. Certain on the statements contained herein, which are not historical facts, are forward looking statement with respect to events, the occurrence of which involve risks and uncertainties. These forward-looking statements may be impacted, either positively or negatively, by various factors. Information concerning potential factors that could affect the company is detailed from time to time in the company’s reports filed with the Securities and Exchange Commission.