PVEN Press Ventures Inc (CE)

WARSAW, POLAND--(Marketwired - Oct 21, 2013) - Press Ventures Inc. (OTCQB: PVEN) ("Press Ventures" or the "Company"), through its wholly-owned Polish subsidiary Biosafety Systems, Inc. Sp z o.o., is pleased to announce that it has engaged with the U.S. Environmental Protection Agency (EPA) office of pesticide programs, antimicrobial division in an effort to advance its application submissions to receive a "license to sell" designation for its patented Cedar Leaf Oil Diffusion ("CLO-D") biosafety system within the United States.

"Our initial exchange with the EPA was both informative and encouraging resulting in the identification of specific protocols that map out the entire pre-application, application submission, EPA evaluation, and EPA approval process for the CLO-D biosafety system," stated Mr. Edward Denkiewicz, Press Ventures CEO. "To assist in this process, we have engaged an industry expert to guide us with the preparation and submission of all documents needed for the next pre-application submission and meeting with the EPA that will ascertain the appropriate path for CLO-D's EPA registration and its commercial application."

Mr. Denkiewicz goes on to further explain, "The pre-submission application with the EPA will serve to provide clarity and guidance to the Company in its final application with the EPA. Once the pre-submission application has been filed, a thorough review will be conducted by the EPA Product Manager with the outcome of that analysis providing the framework for our final EPA submission to receive a 'license to sell' for its patented antimicrobial solution systems within the United States. The Company has already taken the next steps of this process by submitting an eligible fee waiver application that should result in a 75% reduction in the significant EPA application fees."

The Company's License to Sell application will be driven by the following parameters as detailed in the US EPA's Office of Pesticide Programs policies:

1). That the patented CLO-D, "cedar leaf oil-diffusion" is categorized by the EPA as an Antimicrobial Pesticide for "public health."

Public health antimicrobial products are those products that bear a claim to control pesticide microorganisms that pose a threat to human health, and whose presence can not be readily observed by the user, including but not limited to, microorganisms infectious to man in any area of the inanimate environment. A product makes a public health claim if one or more of the following apply:

• a claim is made for control of specific microorganisms or classes of microorganisms that are directly or indirectly infectious or pathogens to man (or both man and animals).
• a claim is made for the pesticide product as a sterilant, disinfectant, virucide, sanitizer, or tuberulculocide against microorganisms that are infectious or pathogenic to man.
• a claim is made for the pesticide product as a fungicide against fungi infectious or pathogenic to man, or the product does not clearly state that it is intended for use only against non-public health fungi.
• a claim is made for the pesticide product as a microbiological water purifier or microbial purification system.
• a non-specific claim is made that the pesticide product will beneficially impact or affect public health at the site of use or in the environment in which applied, and:

The pesticide product contains one or more ingredients that, under the criteria in 40 CFR 153.125 (a) is an active ingredient with respect to a public health microorganism and there is no other purpose for the ingredient in the product; or The pesticide product is similar in composition to a registered pesticide product that makes explicit antimicrobial public health claims.

2). That CLO-D will require a "new active ingredient" registration under the Federal Insecticide, Fungicide, and Rodenticide Act (FIFRA) and additionally under the Federal Food, Drug, and Cosmetic Act (FFDAC).

Mr. Denkiewicz concluded, "While the process to have CLO-D licensed by the U.S. EPA is certainly an intensive one, and is expected to take up to 18 months to complete, we are very encouraged that under the guidelines as we have come to interpret them and as depicted in our direct discussion with EPA representatives, that our intent to have CLO-D receive an EPA-backed license as an Antimicrobial Pesticide suitable for both human and agricultural applications is both achievable and strategic. The benefit to our Company is that we will not be required to submit dual applications for human and agricultural applications. Clearly this represents a substantial cost savings to the Company in application fees and human resources required to assemble and file such applications. We are certainly keen to continue the supplementary document submission process with the U.S. Environmental Protection Agency and to advance our initiative with them to receive this critical endorsement from one the most important and respected governing bodies in American industry."

About Press Ventures

Press Ventures holds the worldwide rights to the patented Cedar Leaf Oil Diffusion ("CLO-D") technology for the use of natural products to kill bacteria, mold, and viruses in buildings. The patented CLO-D technology has been shown to be capable of killing many deadly bacterial and viral substances such as anthrax and H1N1 in buildings while they are still occupied. The CLO-D technology has been laboratory and field tested and the Company believes that use of the technology can provide a marked improvement in air quality and eliminate many of the most dangerous airborne bacteria, viruses, and pollutants. For additional information about CLO-D technology and Press Ventures, please visit www.biosafetysystemsinc.com.

Notice Regarding Forward-Looking Statements

This news release contains "forward-looking statements" as that term is defined in Section 27(a) of the Securities Act of 1933, as amended, and Section 21(e) of the Securities Exchange Act of 1934, as amended. Statements in this press release that are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the EPA review and approval process, registration requirements under FIFRA and FFDAC, approval of EPA license to sell, capability of the Company's technology and market information. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with developing new products or technologies and operating as a development stage company, our ability to retain important members of our management team and attract other qualified personnel, our ability to raise the additional funding we will need to continue to pursue our business and product development plans, our ability to develop and commercialize products based on our technology platform, and market conditions. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in the reports and other documents we file with the SEC, available at www.sec.gov.

Investor Relations Contact: 1-888-709-1550 IR@kingstonir.net

Press Ventures (CE) (USOTC:PVEN)
Historical Stock Chart
From Mar 2024 to Apr 2024

Press Ventures (CE) (USOTC:PVEN)
Historical Stock Chart
From Apr 2023 to Apr 2024