FOR IMMEDIATE RELEASE Contact: Paul
Knopick
ITRONICS FILES TECHNICAL PRODUCT
REGISTRATION APPLICATION FOR ANIMAL REPELLENT WITH U.S. ENVIRONMENTAL PROTECTION
AGENCY
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Key New Product to Increase Revenues, Broaden Itronics' Offerings -
RENO, Nev., Aug. 30
/PRNewswire-FirstCall/ -- Itronics Inc. (OTC Bulletin Board: ITRO; Frankfurt
and Berlin Stock Exchanges: ITG) today reported that its wholly-owned
subsidiary, Itronics Metallurgical, Inc., has filed a technical product
registration application with the U.S. Environmental Protection Agency (EPA)
for the active repelling ingredient, denatonium benzoate, used in its GOLD'n
GRO Guardian deer repellent fertilizer. When approved, Itronics Metallurgical
will be the sole registrant in the United States for use of this
ingredient in vertebrate animal repellents.
"Our deer repellent
fertilizer is a key new product for Itronics, which will broaden our product
offerings, reduce the seasonality issue with fertilizers, and give Itronics an
opportunity to participate in a multi-billion dollar potential market,"
said Dr. John Whitney, Itronics President. "It is very important that we
progress with this new product and we intend to keep our investors aware of our
achievements."
EPA has accepted the
registration application, which could be completed within 4 months. Itronics
Metallurgical is also continuing to advance towards completing and filing the
registration application for GOLD'n GRO Guardian. Samples of the repelling
component product have been submitted to a laboratory to develop technical
information required to complete the application. The Company believes it is on
schedule to complete the registration of GOLD'n GRO Guardian deer repellent
fertilizer late in the first quarter or early in the second quarter of 2008.
Plans are being developed for manufacturing, marketing, and a major sales
launch in the second quarter of next year.
"The Company
previously announced an agreement to enter into a long term supply arrangement
with a large foreign manufacturer of the repelling ingredient," said Dr.
Whitney. "Not only will Itronics Metallurgical have an agreement for
reliable supply of a critical ingredient which is not manufactured within the United States, it will have the only product
registration for this ingredient to be used in animal repellents in the United States."
The GOLD'n GRO Guardian
repels deer without harming them while it also improves the growth of the fertilized
plants. The treatment is systemic, which means that the repelling characteristics
are taken into the plant and cannot wash off when it rains. Field tests have
shown that plants treated in the fall will retain their repelling
characteristics during the winter, a major benefit.
The national annual
market for deer repellent products is growing rapidly and is estimated to
exceed $50 million. Deer damage in the United States is a large and
growing problem. According to a report by Cornell Cooperative Extension, Ithaca, N.Y.,
the deer population has grown from 500,000 nationwide in the early 1900's to
more than 15 million today. Annual estimates of deer damage are reported to
exceed $2 billion nationwide, including more than $250 million in agricultural
crop damage, and damage to metropolitan households in the northeastern United States
alone.
The GOLD'n GRO Guardian
development, registration, and manufacturing and sales planning are being
implemented pursuant to Itronics eight-part, five year business plan that was
summarized in a press release on June 3, 2005, available at the Itronics' web
site.
About Itronics
Itronics, through its
subsidiary, Itronics Metallurgical, Inc., is the only company in the world with
a fully permitted "Beneficial Use Photochemical, Silver, and Water
Recycling" plant located in the United States which can convert
used photoliquids into pure silver and liquid fertilizers. At the Company's Reno, Nevada
factory more than 99 percent of the silver and virtually all the other toxic
heavy metals are extracted from used photoliquids. The purified liquids are
converted into environmentally beneficial, chelated, micronutrient and
multinutrient liquid fertilizers sold under the GOLD'n GRO trademark. The
silver is refined and sold as bullion and 5 troy ounce, 0.999 pure, Silver
Nevada Miner numismatic bars. The environmentally friendly liquid fertilizers
can be used for lawns and houseplants, and are available, along with GOLD'n GRO
liquid fertilizer injectors, at the Company's "e-store" catalog at http://goldngro.com . The popular Silver Nevada
Miner bars are available at the Company's 'e-store' catalog at http://www.itromet.com .
Headquartered in Reno, Nevada,
Itronics Inc. is a "Creative Environmental Technology" company and a
world leader in photochemical recycling. The Company also provides project
planning and technical services to the gold mining industry and operates the
popular InsideMetals.com web site, http://www.insidemetals.com.
which provides a value-added WORLD VIEW of Gold Producer Stocks and Junior
Gold Stocks. Itronics has received numerous domestic and international
awards that recognize its ability to successfully create and implement new
recycling and fertilizer technologies.
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VISIT OUR WEB SITE: http://www.itronics.com
("Safe
Harbor" Statement
under the Private Securities Litigation Reform Act of 1995: This press release
contains or may contain forward-looking statements such as statements regarding
the Company's growth and profitability, growth strategy, liquidity and access
to public markets, operating expense reduction, and trends in the industry in
which the Company operates. The forward-looking statements contained in this
press release are also subject to other risks and uncertainties, including
those more fully described in the Company's filings with the Securities and
Exchange Commission. The Company assumes no obligation to update these
forward-looking statements to reflect actual results, changes in risks,
uncertainties or assumptions underlying or affecting such statements, or for
prospective events that may have a retroactive effect.)