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September 20, 2006
Favored®, Inc. (Other
OTC:FVRD.PK) announced today that it has entered into a letter
of intent to acquire one hundred percent of the membership
interest of Favored® Seed, LLC.
As consideration, Favored®, Inc.
will issue a total of 676,483 common shares of its capital
stock, restricted pursuant to Rule 144, to the members of
Favored® Seed, LLC.
Favored® Seed, LLC, an Indiana
Limited Liability Company, is in the business of supplying Non
Genetically Modified Hybrid Corn Seed and Non Genetically
Modified Soya Bean Seed with specialty output traits. These
grains continue to be in high demand, particularly for exports
to Europe and Asia. Favored® Seed will endeavor at every
opportunity to fulfill this immense market opportunity for
specialty food grade products.
Favored® Seed is currently
expanding its contract corn seed production by over 25% for the
2007 sales season. This continued growth will serve the demand
of our current and future client base who utilize this product,
while strengthening our presence in this niche.
Dr. Claude Page, CEO, further
commented that, "acquiring Favored® Seed completes an important
link in the implementation of the Patent Pending Favored®
System. This acquisition will further enable us to tailor our
production and operations to meet our customers' future demands
and requirements, while ensuring full ingredient traceability.
By having control of this operation, Favored® strengthens its
position in the global marketplace as a trusted source for
specialty food ingredients."
The All Natural FAVORED®
System delivers food products managed with the assurance of
being completely traceable from origin to consumer or from "seed
to plate." This system focuses on the traits that consumers
desire; which are products free from added growth hormones,
antibiotics and Genetically Modified grains. FAVORED®
participates in this market segment that represents
approximately 33% of the U.S. population. These consumers buy
natural/organically grown foods and the organic/natural food
sales exceed $30 billion each year. |