Summit Environmental Corporation Signs Exclusive License and Distribution Agreement With Just-In Case Fire, Ltd.
May 07 2008 - 5:25PM
PR Newswire (US)
OAK CREEK, Wis., May 7 /PRNewswire-FirstCall/ -- Summit
Environmental Corporation (Pink Sheets: SEVT) has signed an
exclusive license and distributorship agreement with Just-In Case
Fire, Ltd. of Calgary, Alberta, Canada with regard to Summit's fire
suppressant called FlameOut(C), announced John Brooks, President of
Summit. The territories subject to the exclusive license are
Canada, New Zealand, Australia, Kuwait, Tunisia, Nigeria, Thailand,
Sweden and other jurisdictions as may be added by mutual agreement
of the parties. The license and distributorship agreement is for a
10-year period and is renewable for four 5-year extensions by
Just-In Case Fire, Brooks said. Just-In Case Fire has developed a
portable delivery and FlameOut(C) application device, called a
Caddy, for use in situations where a large amount of fire
suppressant is required. The Caddy was developed initially for use
in the lumber industry in Canada. As for the territories covered by
the license and distribution agreement, Just-In Case Fire has
already established a presence in each one. The fire suppressant
"FlameOut(C)" was developed by Dr. Mohsen Amiran and is believed to
be superior to all other fire suppressants. It can be applied in
bulk for large fires or under the trade name "FirePower(C)" in
aerosol form for small fires. Dr. Amiran is executive vice
president of Summit and continues to develop improvements for the
fire suppressant and his other inventions. "We are delighted to
sign this long-term agreement with Just-In Case Fire," said Brooks.
"We have known that company for several years and believe it can
successfully market our product covered by the exclusive license
and marketing arrangement." This Press Release contains
forward-looking statements based on our current expectations about
our company and our industry. You can identify these
forward-looking statements when you see us using the words such as
"expect," "anticipate," "estimate," "believes," "plans" and other
similar expressions. These forward-looking statements involve risks
and uncertainties. Our actual results could differ materially from
those anticipated in these forward-looking statements as a result
of our ability to complete required financings or other
preconditions to the completion of the transactions described
herein. We undertake no obligation to publicly update any
forward-looking statements for any reason, even if new information
becomes available or other events occur in the future. We caution
you not to place undue reliance on those statements. DATASOURCE:
Summit Environmental Corporation CONTACT: Sherwin Amiran of Summit
Environmental Corporation, +1-414-571-6230
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