WARSAW, Poland, Sept. 4, 2013 (GLOBE NEWSWIRE) -- Press Ventures Inc. (OTCQB:PVEN) ("Press Ventures" or the "Company"), is pleased to announce that the Company has formed a new wholly-owned European subsidiary and established a new European Union (EU) corporate headquarters.
With the recently announced addition of our new CEO, it made strong business sense to have a new corporate focus in the EU where Mr. Denkiewicz's extensive business contacts and vast experience will enhance the Company's efforts to bring its product to the marketplace rapidly. There is strong support within the EU for "natural" biosafety solutions for the food and commercial building sectors. The Company feels that EU business development is a very important opportunity for its patented Cedar Leaf Oil Diffusion ("CLO-D") technology.
"Through our research, we have come to believe that the EU represents an enormous multi-billion dollar market opportunity for our patented cedar oil biosafety system, the Company, and its shareholders," stated Mr. Edward Denkiewicz, CEO of Press Ventures and BioSafety Solutions Inc., a wholly owned subsidiary of the Company. "There is a global movement away from the use of harmful chemicals in our lives and our all-natural biosafety solution has been proven to be 100% safe, while still effectively eradicating dangerous bacteria and viruses from affecting humans. The opening of this new corporate headquarters in Warsaw, Poland is a truly exciting step forward for the Company and will form a base of operations in the center of what we feel will be one of our main global markets."
Traditionally, Europeans have shown a strong resistance to dangerous chemical biosafety solutions that can negatively affect human health. The potential EU market targeted for the Company's patented Cedar Leaf Oil Diffusion ("CLO-D") technology is estimated at over $28 billion to target bacteria and viruses in food processing facilities alone. The Company will also target another potential multi-billion market opportunity in hospital biosafety. Hospitals are constantly fighting the spread of infectious diseases and bacteria on a daily basis. While the Company's CLO-D technology is the premier effective all-natural biosafety solution which has been proven 100% safe and not harmful to humans, there are no assurances that the Company will be successful in developing or exploiting such potential markets.
About Press Ventures
Press Ventures owns the worldwide rights to the patented Cedar Leaf Oil Diffusion ("CLO-D") technology for the use of natural non-human harming vapors to kill bacteria, mold, and viruses in buildings. The patented CLO-D technology has been shown to be capable of killing many deadly bacterial and viral substances such as anthrax and H1N1 in buildings while they are still occupied. The CLO-D technology has been laboratory and field tested and the Company believes that use of the technology can provide a marked improvement in air quality and eliminate many of the most dangerous airborne bacteria, viruses, and pollutants. For additional information about CLO-D technology and Press Ventures, please visit www.biosafetysolutionsinc.com .
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27(a) of the Securities Act of 1933, as amended, and Section 21(e) of the Securities Exchange Act of 1934, as amended. Statements in this press release that are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, size and potential of the EU market for the Company's products, global movement away from the use of harmful chemicals, size and potential of the food processing facilities and hospital biosafety markets for the Company's products demand for natural biosafety solutions, exploitation of business opportunities, target markets, strategic business goals, rise in diseases, capability of the Company's technology and market information. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with developing new products or technologies and operating as a development stage company, our ability to retain important members of our management team and attract other qualified personnel, our ability to raise the additional funding we will need to continue to pursue our business and product development plans, our ability to develop and commercialize products based on our technology platform, and market conditions. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in the reports and other documents we file with the SEC, available at www.sec.gov .
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