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BSLM Reaches Tentative Agreement to Acquire BRSI Monday June 12, 7:10 pm ET
HATTIESBURG, Miss.--(BUSINESS WIRE)--June 12, 2006--Bio-Solutions Manufacturing, Inc. (OTC BB: BSLM, Frankfurt: B2T.F) announced today that it had reached a tentative agreement with Bio-Solutions Franchise Corp (BSFC) to buy its Bioremediation Services, Inc. (BRSI) franchise subsidiary for stock. ADVERTISEMENT
BRSI currently has over 80 franchise units in approximately 19 states. A franchise unit is the protected territory owned by the franchisee that consists of approximately 200,000 people.
BRSI markets its service and products nationally through its franchise and distributorship program. Franchise owners work with restaurants, schools, hospitals, nursing homes, and other food service facilities to service their grease traps and drain lines, and sell them cleaning products such as quick drying floor soap. The franchisees also service municipal collection systems. The municipal service includes working with lift stations, sewer lines, force mains, and treatment plants.
BRSI has experienced substantial growth in its number of franchisees over the past twelve months. Michael Silverman, BRSI's President and CEO, stated: "Our expectations for this coming year are extremely high with the inclusion of the new BioExtractor that will allow us to capture the oil and grease from the waste stream that can be converted to value-added products such as Biodiesel."
The proposed transaction is subject to entering into a definitive agreement with BSFC and standard closing conditions, including any required corporate, regulatory or third-party approvals.
About Bio Solutions Manufacturing, Inc.:
Bio Solutions has developed superior microbiological products for waste bioremediation. Bio Solutions currently services many municipal collection systems and a growing number of food service facilities in the United States. The company's products have been approved by an ever-growing number of municipalities for use in food service facilities that produce waste products introduced into the municipal collection systems. Bio Solutions' products treat waste in an environmentally friendly and safe manner in compliance with Federal and State government standards.
Bio Solutions has developed a line of environmentally friendly cleaning products that include all purpose cleaner, carpet cleaner, concrete and asphalt cleaner, and floor soap. With this line of products, it is enabling Bio Solutions to broaden its customer base to the residential areas as well as the businesses and municipalities.
Bio Solutions has acquired the intellectual property for a unique grease extractor to be used in conjunction with bioremediation solutions to extract desired oil and grease to be converted into value-added products.
Safe Harbor for Forward-Looking Statements:
Except for historical information contained herein, the statements in this news release are forward-looking statements that involve risks and uncertainties and are made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the Company's actual results in the future periods to differ materially from forecasted results.
Contact: Bio-Solutions Manufacturing, Inc. Patricia Spreitzer, 702-222-4781
-------------------------------------------------------------------------------- Source: Bio-Solutions Manufacturing, Inc.
Posts: 134 | From: Los Angeles CA | Registered: Nov 2004
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