AquaLiv Technologies, Inc. Announces Acquisition of Verity Farms
SEATTLE, Jan. 9, 2013 /PRNewswire/ -- AquaLiv
Technologies, Inc. (OTCQB: AQLV), a life sciences research and
development company, announced today the successful acquisition of
Verity Farms ("Verity"), a Sioux
Falls-based company committed to the sustainability of the
"family farm" and a way of life for the American family farmer.
Verity Farms, through sustainable "bio-diversity best practices"
soil management programs, decrease chemical dependency and reduce
the application of genetic engendered products and byproducts in
food production. With the acquisition of Verity, AquaLiv is now a
vertically integrated premium natural food producer and purveyor
utilizing innovative and proven food production methodologies that
enhance the overall health benefits in plants, animals and human
beings while improving taste and fortifying essential nutrition
value.
Under the terms of the Share Exchange Agreement, AquaLiv
Technologies, Inc. has acquired 100% of the outstanding shares of
Verity Farms, II, Inc. (which is the parent company of Verity
Farms, LLC and various business units). The terms of the
agreement have been filed in a Form 8-K with the Securities
Exchange Commission and available for public review on January 8, 2013.
The Verity business greatly enhances the AquaLiv asset and
customer base. The acquisition adds approximately
$4,500,000 in total assets to the
balance sheet, including inventory and $3,200,000 in real estate holdings consisting of
three separate properties. Additionally, the Verity business is
both seasoned and diverse with operations currently in seven (7)
states with plans to continue an aggressive national
expansion. Additional information on the Verity acquisition,
its business, and the Company's future plans will be released over
the coming weeks.
A key driving element of the acquisition is incorporating the
experienced Verity management team into AquaLiv. The AquaLiv
and Verity new President and CEO, Duane
Spader, is a business veteran with a stellar track record of
both consulting for companies and building companies. His lifetime
work has been dedicated to helping the small business owner grow,
sustain and thrive. Born and raised on a farm, Mr. Spader
believes that an essential part in producing healthy food, both
crops and livestock, is paying attention to the "life in the soil"
where crops and feedstock for livestock are grown. Mr. Spader
said, "Earthworm populations are nature's best indicator of health
in soil. Not only is the final product healthier for the consumer,
but the taste is much better than what the public has become
accustomed to expecting."
Spader built a business consulting firm, Spader Business
Management (www.spader.com), which has won awards in a number of
industries—from software to farm equipment to marine
distributorships. After selling Spader Business Management in 2011,
Spader joined Verity full-time in June of 2011 and has proceeded to
increase the company's presence into 5 more states and stimulated
local economic growth from 3 to 27 employees. This acquisition is
another step in Duane Spader's
vision of building a values-based company focused on sustainability
in the food production process with all its inherent health and
taste benefits.
Bill Wright, former CEO and now
Executive Vice President of AquaLiv Technologies, Inc.,
said, "A lot of hard work is beginning to pay off. The
experienced Verity management team and their business opportunities
are very strong for the future, the market sector and
shareholders. The significant potential increase in revenues
and corporate assets, as well as the addition of key leadership
personnel for AquaLiv, will bring new value to the Company in
2013. While there is still a lot to be done, I am excited to
be able to be working beside Duane
Spader and his team."
Duane Spader, President of Verity
and new CEO of AquaLiv Technologies, Inc., said, "This strategic
partnership has created substantial excitement with the key Verity
personnel as they realized how AquaLiv and Verity complemented each
other's product, mission, vision and values. It is our goal to make
this acquisition into a company that offers the stakeholder an
attractive investment opportunity while fulfilling a mission of
helping family farmers build a business based on the core values of
providing quality healthy food at a reasonable price. Verity and
AquaLiv together just makes business sense -- Verity with its
capability in the development of premium natural food production
and water enhancement technology fits perfectly with the direction
and technology of AquaLiv. The most significant common denominator
that drives this market sector is not simply being in food
production and water management in this challenging economy, but it
is the shared missions and values of leadership that is capable of
driving this organization towards success."
Following the acquisition, Verity will continue to operate
independently as a wholly-owned subsidiary of AquaLiv Technologies,
Inc. AquaLiv, Inc. will change its name to Aistiva
Corporation and will also continue to operate as a subsidiary.
Verity and Aistiva will then integrate their respective
technologies and customer channels for increased synergies and
effectiveness. Recognizing the presence of Verity in the
marketplace, AquaLiv Technologies, Inc. will file to change its
name to Verity, Inc. in the coming weeks.
Investor Database for Future Press Releases and Industry
Updates
Interested investors and shareholders are invited to be added to
the corporate e-mail database for corporate press releases and
industry updates by sending an e-mail with "AQLV" in the subject
line to investorrelations@mindspring.com
About Verity Farms (www.veritycorp.com)
Verity Farms is dedicated to providing consumers with safe, high
quality and nutritious food sources through sustainable crop and
livestock production (see video). Verity has built the foundation
for expansion that is diversified into three distinct, yet
interlinked, divisions operating six business units. The three
divisions: Soil Preservation, Water Systems and
Consumer Products. Soil Preservation consists of Verity
Farms and Verity Turf; Verity Water Systems comprises its own
division; and, Verity Consumer Products will consist of Verity
Meats, Verity Produce and Verity Grains. The common goal within
each Verity Business Unit is to decrease chemical dependency, to
diminish the need for genetic modification, to preserve the family
farm, and ultimately, to provide a nutritious, high-quality food
source to consumers.
Verity Farms video link:
https://www.youtube.com/watch?v=I6pDVbKEOOU&feature=youtube_gdata_player
About AquaLiv Technologies (www.aqualivtech.com):
AquaLiv Technologies, Inc., through its subsidiary, Aistiva
Corporation, offers unique solutions for a variety of industries
that also apply directly to agriculture.
Aistiva Corporation is a life sciences research and development
company creating novel products for numerous industries. The
company's patented technology influences biological processes
naturally and without chemical interaction. From increased crop
yields to drug-free medicine, Aistiva is providing innovative
physics-based solutions to the world's largest problems. To learn
more about Aistiva, please visit: www.aistiva.com.
Safe Harbor: Statements contained in this news release, other
than those identifying historical facts, constitute
"forward-looking statements" within the meaning of Section 21E of
the Securities Exchange Act of 1934 and the Safe Harbor provisions
as contained in the Private Securities Litigation Reform Act of
1995. Such forward-looking statements relating to the Company's
future expectations, including but not limited to revenues and
earnings, technology efficacy, strategies and plans, are subject to
safe harbors protection. Actual Company results and performance may
be materially different from any future results, performance,
strategies, plans, or achievements that may be expressed or implied
by any such forward-looking statements. The Company disclaims any
obligation to update or revise any forward-looking statements.
Contact:
AquaLiv Technologies Investor Relations
360-782-4477
SOURCE AquaLiv Technologies, Inc.