US Farms, Inc. Announces LOI to Purchase Aloe Vera Manufacturing and Bottling Equipment
Thursday May 22, 2008
SAN DIEGO, CA -- (MARKET WIRE) -- May 22, 2008 -- US Farms, Inc. (OTC BB : USFI.OB ) a diversified commercial Farming and Nursery company today announced that it has signed a non-exclusive Letter of Intent to acquire specific Aloe Vera Manufacturing equipment along with fully automated state of the art Bottling equipment. This equipment acquisition, once completed, will allow the company to enter into the manufacturing and sales of Aloe Vera based consumer products. This transaction is subject to further due diligence and financing.
In the transaction, US Farms, Inc. will be acquiring:
- State-of-the-art manufacturing equipment including a fully automated filling, packing, and palletizing system designed for high output production with minimal labor costs.
- Recently, the equipment received an in-use appraisal of $3.1 million.
Yan K. Skwara, CEO of U.S. Farms, Inc., stated, "When consummated, this equipment acquisition, would enable US Farms, Inc. to leverage its current Aloe Vera Farming operations, which includes over 250,000 full grown Aloe Vera mother Plants, into a vertically integrated player in the $34 billion US market for products containing Aloe Vera. In addition, the market opportunities and revenue potential, coupled with very attractive gross and operating margins, would enable us to increase shareholder value long term."
About US Farms, Inc.
US Farms, Inc. is a diversified commercial Farming and Nursery company. The company grows, markets and distributes horticultural products through a number of wholly owned subsidiaries. The horticultural products are sold through supermarkets, home centers, retail merchandisers, garden centers, re-wholesalers, and landscapers throughout the United States and Canada. Through internal growth and strategic acquisitions the company is expanding its market share in its nursery and specialty produce businesses. Currently the company has subsidiaries, which provide a full range of products including Aloe Vera, Cactus, Succulents, Jade, Rare and Exotic Palm Trees and Cycads along with Produce products that include Aloe Vera, Asparagus, Tomatoes and Garlic.
For more information on US Farms, Inc., please visit http://www.usfarmsinc.com. US Farms, Inc. is publicly traded on the Over-the-Counter market under the ticker symbol USFI.
Safe-Harbor
Forward-looking statement: Except for historical information, this press release contains forward-looking statements, which reflect the Company's current expectation regarding future events. These forward-looking statements involve risks and uncertainties, which may cause actual results to differ materially from those statements. Those risks and uncertainties include, but are not limited to, changing market conditions and other risks detailed from time to time in the Company's ongoing quarterly filings, annual information form, and annual reports. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. In light of these risks, uncertainties and assumptions, the forward-looking events in this press release might not occur.
Contact:
US Farms, Inc.
Tel: 858-488-7775 Ext 101 or 800-845-9133
Fax: 858-488-2828
Email: info@usfarmsinc.com
Website: http://www.usfarmsinc.com
Investor Relations:
Flagler Communications, an affiliate of OTC Financial Network
Jamie Dryer
Tel: 561-837-8057
http://www.otcfn.com/usfi
Source: US Farms, Inc.
