Itronics Resolves Litigation With the NIR Group, Ltd.
April 01 2011 - 8:40AM
Marketwired
Itronics Inc. (PINKSHEETS: ITRO), a "Creative Clean Technology"
company, announced today that it has reached a resolution of its
litigation with the NIR Group, Ltd. and its affiliates, which held
Convertible Notes issued by Itronics. As part of the resolution of
the litigation, the parties have entered into a settlement
agreement for the balance due under the Notes and the Notes have
been cancelled.
Dr. John Whitney, President of Itronics, stated, "We are pleased
to conclude the Litigation. Itronics will now be able to devote its
full resources to developing and growing its business."
Corey Ribotsky, Chairman of the NIR Group, stated, "Litigation
is a last resort for our family of funds. We are encouraged by the
progress that Dr. Whitney and the Itronics team have made and we
support their efforts to develop Itronics' business."
About Itronics Headquartered in Reno,
Nevada, Itronics Inc. is a "Creative Clean Technology" company.
Itronics, through its subsidiary, Itronics Metallurgical, Inc. is
the only company with a fully permitted "Beneficial Use
Photochemical, Silver, and Water Recycling" plant in the United
States that converts used photoliquids into pure silver and GOLD'n
GRO liquid fertilizers. The Company is developing environmentally
compatible mining technology, provides project planning and
technical services to the gold mining industry, and operates the
popular InsideMetals.com web site, http://www.insidemetals.com,
which provides a value-added WORLD VIEW of Gold Producer Stocks,
Mineral Producer Stocks, Junior Gold Stocks, and Junior Mineral
Stocks.
VISIT OUR WEB SITE: http://www.itronics.com
("Safe Harbor" Statement under the Private Securities Litigation
Reform Act of 1995: This press release contains or may contain
forward-looking statements. The Company's business is subject to
significant risks and uncertainties, including those more fully
described in the Company's filings with the Securities and Exchange
Commission. The Company assumes no obligation to update any
forward-looking statements to reflect actual results, changes in
risks, uncertainties or assumptions underlying or affecting such
statements, or for prospective events that may have a retroactive
effect.)
Contact: Paul Knopick 888-795-6336
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