JACKSONVILLE, Fla., June 10, 2011 (GLOBE NEWSWIRE) -- Mariner's Choice International, Inc. (Pink Sheets:MCII), a North American manufacturer and distributor of an extensive line of ecologically-safe products for the marine and other industry segments, today announced that the company has signed an agency agreement with Florida-based EcoElite Industries, LLC.
EcoElite will represent Mariner's Choice products in the retail and industrial/commercial sectors. Their network consists of high-level contacts with national retail chains, international companies and organizations. They have already begun actively promoting the products and have identified a number of opportunities. Negotiation with a marine company has been initiated and is anticipated to close in time to prepare for the 2012 season.
Thomas J. Irvine, president & CEO of EcoElite, stated, "We are excited to be working with Mariner's Choice and representing their high-performing, eco-friendly products. We believe that the 'green' movement is strong and see great growth potential whenever you can help replace the use of conventional caustic chemicals with earth-friendly 'green' products that actually work. Mariner's Choice offers a diverse and well-rounded product line, with the capability to develop and add new products as appropriate opportunities and needs arise. Their ability to adapt to market conditions is one of the strengths that Mariner's Choice has displayed and their growth potential is very apparent to us. We are pleased to be part of the team helping propel the company forward."
The proforma attached to the five-year agreement calls for sales generated by EcoElite of $750,000 within the first year, with an incremental annual increase of $250,000, to reach a cumulative total minimum of $6.25 million by the end of the fifth year.
About Mariner's Choice International, Inc.
Mariner's Choice manufactures and markets high-performance, ecologically safe commercial, industrial and retail products utilizing leading-edge readily biodegradable technologies. Each product is tested to exacting standards and superior performance levels that often exceed those of comparable products that contain harmful compounds or ingredients. Some of the company's "green" products employ nanotechnology. For more information, please visit .
Except for statements of historical fact, the matters discussed in this press release are forward-looking, and are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements made herein regarding the intent, belief or current expectations of Mariner's Choice International, Inc. are forward-looking statements that reflect numerous assumptions, risks and uncertainties, many of which are beyond our control, and any of which could cause our actual future results to differ materially from our stated expectations today. Prospective investors are cautioned that our forward-looking statements are never guarantees of future performance. Important factors currently known to management that could cause our actual future results to differ materially from those indicated in our forward-looking statements today include our limited operating history, fluctuations in our operating results, our ability to compete successfully and our ability to attract necessary capital on satisfactory terms. Except as required by applicable law, we undertake no obligation to update or revise our forward-looking statements to reflect changed assumptions, the occurrence of unanticipated future events or changes in our future operating results.
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