Itronics Exercises Option to Purchase 48-Acre, 60,000 Square Area Foot Manufacturing Facility at Wabuska, Nevada for $1.6 Million
GlobeNewswire•July 16, 2019
Facility Provides Land, Buildings, Water Rights and Rail Service to Support Expansion
RENO, Nevada, July 16, 2019 (GLOBE NEWSWIRE) -- Itronics Inc. (ITRO), a diversified zinc fertilizer and silver producing green technology Company, today announced that it has exercised its option to purchase a manufacturing facility at Wabuska, Nevada for a purchase price of $1.6 million. This is a strategic site for the expansion of Itronics GOLD’n GRO fertilizer manufacturing and for developing its portfolio of “Zero Waste Technologies.” Itronics’ plan is to develop this site as a Green Technology campus.
“The Wabuska site is configured and zoned for uses that are a perfect fit for expansion of Itronics GOLD’n GRO fertilizer manufacturing and for its breakthrough 'Zero Waste' technologies,” said Dr. John Whitney, Itronics President. “We are pleased that the seller has worked with Itronics to make this purchase possible. We are also excited to be able to expand our 'Greentech Zero Waste' technology operations at a geographically strategic location in northern Nevada.”
The site is zoned for fertilizer manufacturing, chemical manufacturing, and foundry operations. Special use permits will be required for specific operations. The facility is on 48 acres, has five buildings with 60,000 square feet under roof, with a 9 million dollar replacement value on the existing structures It also has four dry product silos and four vertical liquid tanks, and is adjacent to a rail siding.
The purchase includes approximately 9-acre feet of water rights. There is one water well on the site along with a lined fresh water pond, and a lined process water pond for which the permits are active and are being acquired as part of the purchase. Site infrastructure includes electric power and natural gas.
The Wabuska site is strategically located about 75 miles southeast of Reno, Nevada, and is about 12 miles north of Yerington, Nevada on the north side of the Yerington copper mining district with its large undeveloped copper deposits. It is about 15 miles east of the Company’s Fulstone polymetallic gold exploration property.
Access to rail service is expected to make the GOLD’n GRO fertilizers cost competitive nationally in bulk. The Company believes that lowered shipping cost with rail delivery capabilities can make it possible to acquire a meaningful national market share in zinc and other micronutrient fertilizers. The Wabuska Manufacturing Facility will also make it possible for the Company to expand its operations to meet the needs of international markets.
The Company’s Greentech technologies completely convert waste materials into commercial goods and because of that are categorized as “zero waste” technologies. Itronics is a world leader in developing this type of Green Technology.
