ITRONICS RESOLVES LITIGATION WITH THE NIR GROUP, LTD.
RENO, Nevada, April 1, 2011 -- Itronics Inc. (OTC:ITRO), a "Creative Clean Technology" company,
announced today that it
has reached a resolution of its litigation with the NIR Group, Ltd. and its
affiliates, which held Convertible Notes issued by Itronics. As part of
the resolution of the litigation, the parties have entered into a settlement
agreement for the balance due under the Notes and the Notes have been
cancelled.
Dr. John Whitney, President of Itronics, stated, ?We are pleased to conclude
the Litigation. Itronics will now be able to devote its full resources to
developing and growing its business.?
Corey Ribotsky, Chairman of the NIR Group, stated, ?Litigation is a last resort
for our family of funds. We are encouraged by the progress that Dr.
Whitney and the Itronics team have made and we support their efforts to develop
Itronics? business.?
About Itronics
Headquartered in Reno,
Nevada, Itronics Inc. is a
"Creative Clean Technology" company. Itronics, through its
subsidiary, Itronics Metallurgical, Inc. is the only company with a fully
permitted ?Beneficial Use Photochemical, Silver, and Water Recycling? plant in
the United States
that converts used photoliquids into pure silver and GOLD?n GRO liquid
fertilizers. The Company is developing environmentally compatible mining
technology, 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,
Mineral Producer Stocks, Junior Gold Stocks, and Junior Mineral Stocks.
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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. The Company?s business is
subject to significant 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 any
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.)