More news again today. May 24, 2006 - 1:06 PM EDT
I love the fact that this non-reporting company actually give the "who and how much" in their press releases. I rare thing in my experience.
RSPG 1.14 0.01
Royal Spring Water takes Africa by storm, with an additional International multi million dollar Letter of Intent for a 2-year term.
LOS ANGELES, May 24 /PRNewswire-FirstCall/ - Royal Spring Water Inc. (OTC: RSPG), a bottler and distributor of pure, sweet water from the Artesian wells of the Ogallala Aquifer, announced today that it has received an additional multi million dollar International Letter of Intent for a minimum 2- year term for the territory of Cameroon, Africa, for over $4,000,000 (USD). Mr. Usman Kalu, CEO for Glob Star, signed the Letter of Intent.
To date, this brings the value of Royal Spring Water's LOI's to over $18,750,000 per year, and over $51,500,000 for the next 3 years.
'This is another example that Royal Spring Water's exceptional quality, with a competitive price, has helped us to penetrate the second African country within a few days. We believe that Royal Springs bottled water deal with Togo that was announced on May 18, 2006, set up a precedent for other African countries and their local African official bodies that are issuing the contracts, which we are in negotiations with', said Mr. Hazan, CEO and President of Royal Spring Water.
Mr. Usman Kalu, CEO of Glob Star said, 'It is very exciting for our company to distribute Royal Spring Water product into our territory of Cameroon. Based on both Royal Spring Water's high quality of bottled water, and their very competitive prices and output quantity, has enabled this LOI approval by the awarding committee chairman'. Also, it would be economically advantageous for us to obtain the contract to supply Artesian spring water to the Cameroon Development Assisted Project for the distribution to the Cholera affected area in all the state, added Mr. Kalu.
An official contract between Royal Spring Water and Glob Star is expected to be signed in the next few weeks, with the first shipment targeted for the end of June.
About Royal Spring Water Inc.
Royal Spring Water (www.royalspringswater.com) bottles and distributes pure, sweet water from the Artesian wells of the Ogallala Aquifer of unparalleled quality and purity. The company's underground source has existed for millions of years and is part of the 'Ogallala Aquifer', one of the country's largest and best water quality aquifers. This pure water from the Artesian wells is already cold and free of organic contaminants, making it desirable for drinking. The state-of-the-art facility in Hereford, Texas is where pure water is extracted from underground wells and then through a complex filtration and bottling process.
In addition to exceptionally high quality water, the facility allows for the manufacturing of plastic bottles and labels providing a fully customized product for a very competitive price.
It is simple - Royal Spring Water has one of the country's best quality water, at the best price currently available in the market.
About Glob Star Ltd.
Glob Star is local importer of beverage and consumer goods such as canned food and baby food in Cameroon, Africa. Established in 1999, Cameroon based Glob Star imports products for local government contracts and local supermarkets. Glob Star is well respected in their country and is well connected in all political levels of the country.
Important Information About Forward-Looking Statements
The above statements in regard to Royal Spring Water, which are not purely historical, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including Royal Spring Water's beliefs, expectations, hopes or intentions regarding the future. All forward-looking statements are made as of the date hereof and are based on information available to the parties as of such date. It is important to note that the actual outcome and the actual results could differ materially from those in such forward-looking statements. Factors that could cause actual results to differ materially include risks and uncertainties, such as technological, legislative, corporate, financial and marketplace changes. All statements in this news release that are other than statements of historical facts are forward-looking statements, which contain our current expectations about our future results. Forward-looking statements involve numerous risks and uncertainties. We have attempted to identify any forward- looking statements by using words such as 'anticipates,' 'believes,' 'could,' 'expects,' 'intends,' 'may,' 'should' and other similar expressions. Although we believe that the expectations reflected in all of our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. A number of factors may affect our future results and may cause those results to differ materially from those indicated in any forward-looking statements made by us or on our behalf. Such factors include our limited operating history; our need for significant capital to finance internal growth as well as strategic acquisitions; our ability to attract and retain key employees and strategic partners; our ability to achieve and maintain profitability; fluctuations in the trading price and volume of our stock; competition from other providers of similar products and services; and other unanticipated future events and conditions.
For further information please contact:
Maxwell Network Group
Sheldon Gold Mira Anidjar
Investment Relations
(416) 748-7800 or 1 (800) 596-5503
www.maxwellnetwork.com
SOURCE Royal Spring Water Inc.
Source: PR Newswire (May 24, 2006 - 1:06 PM EDT)
News by QuoteMedia
www.quotemedia.com
AI
