Wednesday October 22, 2008, 9:00 am ET
SAN DIEGO, CA -- (MARKET WIRE) -- October 22, 2008 -- US Farms, Inc. (OTCBB : USFM ) a diversified commercial Farming and Nursery company, today announced that it has signed a Letter of Intent to purchase the assets of Energy Aloe, Inc. This purchase, once consummated, will allow the company to enter into the marketing and sales of Aloe Vera based Nutraceutical products. This transaction is subject to further due diligence and additional financing.
Yan K. Skwara, CEO of US Farms, Inc., stated, "The anticipated successful purchase of Energy Aloe, Inc. will immediately enable US Farms, Inc. to leverage its current California based Aloe Vera Farming operations, which includes over 250,000 full grown Aloe Vera Plants, into a vertically integrated player in the $34 billion US market for products containing Aloe Vera. The market opportunities and revenue potential from Energy Aloe, Inc. are very exciting and should have very attractive gross and operating margins. This purchase will also significantly enhance our already existing Aloe Vera Farming and Nursery business that truly is a niche market."
About US Farms, Inc.
US Farms, Inc. is a diversified commercial Farming and Nursery company. The company currently grows, markets and distributes horticultural products through a number of its wholly owned subsidiaries. US Farms, Inc. is currently one of the largest domestic growers of Aloe Vera, growing well over 6 million pounds annually. The company plans to further its vertically integrating path by moving into the marketing and sales of Aloe Vera based products. The company's products are sold through supermarkets, home centers, retail merchandisers, garden centers, mail order, direct sales, 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 businesses.
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 a new quotation symbol of USFM.OB.
Safe Harbor
This press release contains forward-looking statements within the meaning of the Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements."
Such statements are based on expectations, estimates and projections at the time the statements are made and involve a number of risks and uncertainties, including, but not limited to, our ability to produce and market a Nutricutical Aloe Vera based energy supplement in the United States; acceptance by the market of an Aloe Vera nutricutical supplement; continued popularity of the energy drink marketplace; the continued production of Aloe Vera products; the Company's ability to develop an energy drink from a whole food source; the expansion and growth of farming and nursery products; ability to raise additional capital; the impact of competitive products; product demand; fluctuations in operating results and other risks detailed from time to time in US Farms, Inc.'s filings with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual outcomes may vary materially from those indicated. US Farms undertakes no obligation to revise or update such statements to reflect current events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Contact:
US Farms, Inc.
Tel: 858-488-7775 Ext 102
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/usfm
Source: US Farms, Inc.
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