TORONTO, Jan. 7, 2013 /CNW/ - BIOSENTA INC. (CNSX: ZRO) (the "Company") is pleased to announce that it has entered into a
non-binding letter of intent with New South Biolabs pursuant to which
New South Biolabs will become the Company's strategic logistics
management partner responsible for enterprise resource planning [ERP],
production and customer relationship management [CRM] as pertaining to
all "Zeromold" products destined for the southern United States,
Mexico, South America and the Caribbean. New South Biolabs will also
purchase Biosenta's first scale unit ringed product system and allocate
resources to establish a facility for the Company's patented ringed
product in the United States. The letter of intent is non-binding and
the parties are continuing their due diligence investigations.
Completion of the transaction is subject to a number of conditions,
including completion of satisfactory due diligence reviews by both
parties, negotiation and entering into definitive documents respecting
the transactions acceptable to all parties, and obtaining all required
approvals upon execution of definitive document respecting the
transaction. New South Biolabs will pay the Company royalties on all
Biosenta products sold and a $600,000 non-refundable fee.
About BIOSENTA Inc.
BIOSENTA Inc.'s line of retail anti-microbial products address the
demand created by the mounting health and environmental concerns caused
by mould, bacteria and other fungi. Biosenta's products will
effectively kill mould [fungi], bacteria and viruses on contact and
prevent re-growth. Mould can affect the immune system, nervous system,
liver, kidneys, blood and cause brain damage.
BIOSENTA will also manufacture and distribute an anti-microbial filler.
Calcium Carbonate is one of the most common fillers used industrially.
It is susceptible like other fillers that hold moisture to attracting
mould. Annual global revenue in the calcium carbonate filler industry
approximates 140 billion dollars. BIOSENTA will produce anti-microbial
filler that performs 'filling' and 'bulking' functions like calcium
carbonate. BIOSENTA's filler product will not attract moisture and
consequently mould infestation. BIOSENTA's filler product with its
patented anti-microbial core will enhance commercial product life and
eradicate a broad spectrum of known bacteria, fungi, algae and other
micro-organisms by suppression of their reproduction.
This release may contain forward-looking statements information and
statements which constitute "forward-looking information" under
Canadian securities law and which may be material regarding, among
other things, the Company's beliefs, plans, objectives, estimates,
intentions and expectations with respect to its capital and funding
plans. Inherent in the forward-looking information and statements are
known and unknown risks, uncertainties and other factors beyond the
Company's ability to control or predict, which give rise to the
possibility that the Company's predictions, forecasts, expectations or
conclusions will not prove to be accurate, that its assumptions may not
be correct and that the Company's plans, objectives and statements will
not be achieved. Actual results or developments may differ materially
from those contemplated by the forward-looking information and
statements. Consequently, undue reliance should not placed on such
On behalf of the Board of Directors of BIOSENTA Inc.
The CNSX has in no way passed upon the merits of the proposed
transaction and has neither approved nor disapproved of the contents of
this press release. Neither the CNSX nor its Regulation Services
Provider (as such term is defined in the policies of the CNSX) accepts
responsibility for the adequacy or accuracy of this release.
SOURCE: BIOSENTA Inc.
For further information:
Bruce Lewis, President & Chief Executive Officer
1120 Finch Avenue West, Suite 503,
Toronto, Ontario M3J 3H7
(416) 410 2019
Investor Relations contact:
Investor Cubed Inc.