ATLANTA, GA -- (Marketwire) -- 03/15/13 -- Kalahari Greentech Inc. (PINKSHEETS: KHGT) (Kalahari, or the Company) is pleased to announce that it has signed a definitive agreement to acquire Honeymark International, LLC (Honeymark), an importer of Manuka Honey and a distributor of natural Manuka Honey products. Manuka Honey is a special type of honey that contains plant-derived, phytochemical components that may be used to promote health and wellness. All Honeymark products contain active Manuka Honey from New Zealand and other natural ingredients. Due to its antibacterial, antiviral, antifungal and anti-inflammatory properties, Manuka honey is being viewed by many as a versatile and effective treatment for internal conditions such as stomach ulcers, acid reflux, irritable bowel syndrome, gastrointestinal disorders, and externally for wound care, diabetic foot ulcers, acne, bacterial and fungal infections. Honeymark sells numerous variations of Manuka Honey, Manuka Honey Capsules, First Aid Antiseptic Lotion, Acne Cream, Anti-Itch Cream, Anti-Fungal Cream, Anti-Wrinkle Serum, Manuka Honey Bar Soap, Liquid Hand Soap, Antiseptic Spray, and many other types of personal and first aid products. Its products are sold online, as well as through retailers and distributors.
Frank Buonanotte, President and CEO of Honeymark International said, "Honey has been used for medical purposes for thousands of years, prior to the advent of modern medicine. Our Honeymark brand of products has become widely accepted as consumers seek refuge in natural alternatives to treat a wide spectrum of medical ailments." Mr. Buonanotte continued, "From the day we started Honeymark, we offered our customers what we believe is the best product on the market. Being part of a public company, like Kalahari Greentech, will allow us an opportunity to fill our backlog of orders and expand the sale of our Manuka honey based products."
Kalahari Greentech CEO, David Kugelman, stated, "We believe this definitive agreement with Honeymark International is an exciting event for our shareholders. According to the Natural Foods Merchandiser's 2012 Market Overview, nationwide sales of all natural and organic products jumped 10 percent to nearly $91 billion last year. We believe there are opportunities for Honeymark's products both in the U.S. and internationally."
The definitive agreement calls for Kalahari to acquire the interest in all assets of Honeymark International including, but not limited to, the URL www.honeymarkproducts.com, as well as the exclusive rights of Honeymark in the importation and distribution of Manuka Honey. Following the proposed acquisition, Honeymark International will become a subsidiary of Kalahari Greentech.
About Honeymark International
Honeymark is an importer of Manuka honey and a distributor of natural Manuka honey products. Since inception, we have believed Manuka Honey is an untapped resource that will become more widely accepted and used by more consumers. We have seen this come to fruition as many customers have enjoyed our products and gave them great reviews. Our goal is to significantly increase our line of Manuka honey-based products in the future, as well as develop relationships with distributors to allow our products to be purchased at various retail locations in addition to our online store.
Honeymark products are manufactured using earth-friendly standards. Sustainable practices are a priority in every aspect of our operation. Every product we offer is cruelty free, which means there is no animal testing or animal ingredients. Honeymark products are also free of Paraben, artificial coloring, synthetic fragrances, genetically modified organisms, mineral oils, and artificial preservatives. We strive to maximize recycled content and recyclability of our packaging in order to promote a better environment.
More information on Honeymark International is available at www.HoneymarkProducts.com. You can become a Facebook Fan of Honeymark International at https://www.facebook.com/honeymark, or follow us on Twitter at https://twitter.com/honeymark
SAFE HARBOR STATEMENT
This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. The risks and uncertainties to which forward looking statements are subject include, but are not limited to, the effect of government regulation, competition, adequate financing, and other material risks. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance, or achievements to be materially different from the statements made herein.
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