reWorks Environmental Corp. Announces Name Change to Forterra Environmental Corp. Trading Under the New Symbol FTE and Gives a S
February 20 2008 - 1:43PM
Marketwired
TORONTO, ONTARIO (TSX VENTURE: REW), is pleased to announce that
it has changed its name to Forterra Environmental Corp. and the
trading symbol to FTE.
The Company will begin trading on the TSX Venture Exchange under
its new symbol FTE on February 22, 2008.
At our annual and special meeting of Shareholders on January
30th, 2008 the shareholders voted in favour of the special
resolution to change the company name to Forterra Environmental
Corp. "I was happy to see the shareholders get behind the new
name," said Don Green. "The favourable response from the market
place after changing the subsidiary's name in July of last year
gave me complete confidence that the new identity was received
well. We had a need to align that identity with the public entity
to ensure continuity for our customers and shareholders alike."
"We have been working very hard over the past months ramping up
our production facility and generating interest from some serious
customers," said Gary Gould "we have done our market research
properly, conducted definitive 3rd party scientific testing on our
product and made significant contacts within our identified initial
target markets. With the proper sales tools in hand and an
understanding of the increasing demand for our product this growing
season we will be able to, not only demonstrate the demand for the
product with some significant sales, but ensure the product is
properly positioned as an economically viable effective solution
for our customers that will enforce the long term viability of the
company"
About Forterra Environmental Corp.
Forterra Environmental Corp. is an emerging leader in the
production and marketing of premium organic soil enrichment
products. These environmentally friendly products boost fertility
while replenishing the soil with organic matter, using worm
castings, for sustainable, long-term benefits, including stronger
root growth and drought and pest resistance. Forterra is the first
company to commercialize the indoor, large-scale production of
totally organic soil-enrichment products. Essentially, Forterra
uses red wriggler worms to convert organic waste into vermicompost
or worm castings. Worm castings contain micronutrients, which are
required for healthy plant development. Worm castings also contain
microbes, which increase the rate at which plants take up available
macronutrients and micronutrients.
Forward-Looking Statements
This news release contains forward-looking statements based on
current expectations. These forward-looking statements entail
various risks and uncertainties that could cause actual results to
differ materially from those reflected in these forward-looking
statements. Such statements are based on current expectations, are
subject to a number of uncertainties and risks, and actual results
may differ materially from those contained in such statements.
These uncertainties and risks include, but are not limited to,
availability of resources, competitive pressures, changes in market
activity, and regulatory requirements. Risks and uncertainties
about reWORKS Environmental Corp.'s business are more fully
discussed in the company's disclosure materials, including its
annual information form and MD&A, filed with the securities
regulatory authorities in Canada. reWORKS assumes no obligation to
update any forward-looking statement or to update the reasons why
actual results could differ from such statements.
The TSX Venture Exchange Inc. has neither approved nor
disapproved of the contents of this news release.
Contacts: Forterra Environmental Corp. Don Green Chairman and
Chief Executive Officer (905) 634-8647 Email:
green@forterra.com
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