ROCHESTER, N.Y.,
April 19, 2010 (GLOBE NEWSWIRE) -- NaturalNano, Inc. (Pink Sheets:NNAN) (Frankfurt:N3N)
announced today that it has completed the acquisition of a 51% interest in
COMBOTEXS, LLC (Combotexs) from World Wide Medical LLC (WWM) a privately held
company in consideration for 20 million shares of common stock and for up to 40
million warrants based on future sales volumes. Combotexs holds marketing
rights to a range of products that represent an opportunity to increase NNAN
sales revenue in the near term and creates new market opportunities for NNAN's
Halloysite Nano Tubule (HNTTM) technology.
Combotexs currently
markets Error Prevention/Safety Checklist Boards to hospitals and high-risk
industries like petrochemical and mining. Checklists have become mandatory in
many hospital operating rooms and according to the World Health Organization,
checklists will reduce patient deaths by 40%. According to Combotexs, it
estimates product sales for 2010 to be over one million dollars.
Acting NaturalNano
CEO and President James Wemett said, "We are excited to have the
opportunity to take a major stake in the Combotexs business. This provides NNAN
with a range of near term applications for our HNT technology that will also
enhance the performance of many of the Combotexs products. NNAN will continue
to actively work to expand markets and applications for HNT as a material
component. This transaction provides NaturalNano with the opportunity to
immediately participate in the revenue from Combotexs product sales which will
further benefit us and our shareholders."
"We have been
working with World Wide Medical and Combotexs on a range of products
and applications and now look forward to a more synergistic relationship while
participating more significantly in the revenue stream from the marketing of
the Combotexs products. Our goal at NNAN is to be a problem solver and to
improve products through our HNT technology," Wemett continued.
Richard
Popovic, CEO of Combotexs and WWM commented, "We welcome the
opportunity NaturalNano has given Combotexs to enhance our products
and to give us an edge in the market place. We will be introducing new products
in 2010 utilizing their technology."
Combotexs, LLC, (www.combotexs.com ), a New
York corporation located in Pittsford,
NY, was formed in 2009 with the
objective of marketing a range of consumer and industrial products,
including the Super Magic Eraser product manufactured by BASF. Combotexs also
has a complete product line of non-alcohol sanitizers for hands and hard
surfaces. The Company is dedicated to building upon the pioneering
work of NaturalNano and is currently developing proprietary partnerships with
companies in need of material solutions for their
products. Combotexs is focused on bringing to market a variety
of Nano-Enhanced products.
About NaturalNano,
Inc.
NaturalNano, Inc.
(Pink Sheets:NNAN) (Frankfurt:N3N) is a
materials science company focused on developing and commercializing advanced
nanocomposites. The Company is focused on additive technologies and processes,
including their proprietary Pleximer that adds value to industrial polymers,
plastics and composites. NaturalNano holds and licenses 24 patents and
applications, as well as proprietary know-how for extraction and separation
processes, compositions, and derivatives of Halloysite. www.naturalnano.com
Cautionary
Statement Regarding Forward-Looking Statements: Contains
forward-looking statements regarding future events and future performance that
involve risks and uncertainties that could materially affect actual
results. This information is qualified in its entirety by cautionary
statements and risk factors disclosure contained in certain of NaturalNano's
filings with the Securities and Exchange Commission. The most recent annual
reports on Form 10-K and quarterly reports on Form 10-Q filed by NaturalNano
provide information about these factors, which may be revised or supplemented
in future reports to the SEC on those forms or on Form 8-K. We caution
investors not to place undue reliance on forward-looking statements, and we do
not undertake any obligation to update or otherwise revise any forward-looking
statements, whether as a result of new information, future events, or other
such factors that affect the subject of these statements, except where
expressly required by law.
CONTACT: NaturalNano, Inc.
Jim Wemett
585-267-4848
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