FusionPharm Completes Sale Of PharmPod High Intensity Containers
DENVER, Feb. 6, 2013
DENVER, Feb. 6, 2013 /PRNewswire/ --FusionPharm, Inc. (OTC: FSPM), the
developer of the patent pending PharmPods^™ hydroponic cultivation system,
today announced that it has completed the sale of 8 PharmPod High Intensity
containers (www.pharmpods.com) under its licensing agreement with Meadpoint
Venture Partners ("Meadpoint"). PharmPod H.I containers utilize High Intensity
Discharge (HID) and/or High Pressure Sodium (HPS) lighting systems to achieve
outstanding results with fruiting and flowering plants. The sale completes the
terms of Meadpoint's initial order under a license agreement signed in
November 2012 under which Meadpoint also agreed to minimum purchases of 50
containers in both 2013 and 2014.
"We are very pleased with the performance of Meadpoint Venture Partners as our
primary channel partner for the distribution and sale of our PharmPod High
Intensity containers," said FusionPharm CEO Scott Dittman. "We are excited
about the potential of our HI containers as an effective and economical medium
for the cultivation of fruiting and flowing plants in a high-growth industry."
About FusionPharm, Inc.
FusionPharm, Inc. was organized to capitalize on opportunities present in the
rapidly growing the $26 billion organic food and specialty herb market.
FusionPharm's primary focus is the development and deployment of the patent
pending PharmPods^™ advanced hydroponic cultivation systems. PharmPods are
constructed from standard ISO steel shipping containers that are repurposed
for use in indoor plant cultivation. Using advanced lighting technology,
cutting edge growing media and proprietary cultivation techniques, a single
PharmPod is capable of growing more produce than one full acre of traditional
agriculture in less than half the time using 90% less water than traditional
agriculture and no harmful pesticides or herbicides.
NOTES ABOUT FORWARD-LOOKING STATEMENTS: Except for any historical information
contained herein, the matters discussed in this press release contain
forward-looking statements that involve risks and uncertainties, including
those described in the Company's Securities and Exchange Commission reports
and filings. Certain statements contained in this release that are not
historical facts constitute forward-looking statements, within the meaning of
the Private Securities Litigation Reform Act of 1995, and are intended to be
covered by the safe harbors created by that Act. Reliance should not be placed
on forward-looking statements because they involve unknown risks,
uncertainties and other factors, which may cause actual results, performance
or achievements to differ materially from those expressed or implied.
Forward-looking statements may be identified by words such as estimates,
anticipates, projects, plans, expects, intends, believes, should and similar
expressions and by the context in which they are used. Such statements are
based upon current expectations of the Company and speak only as of the date
made. The Company undertakes no obligation to update any forward-looking
statements to reflect events or circumstances after the date on which they are
Contact: FusionPharm, Inc.
SOURCE FusionPharm, Inc.
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