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Consolidated Ecoprogress Technology Inc.: Multinational Flushaway Sales Agreement Signed
Market Wire, August, 2007
Consolidated Ecoprogress Technology Inc. (TSX VENTURE: CES)(PINK SHEETS: CEPGF) -
Mr John Banks reports:
We are pleased to report that Consolidated Ecoprogress Technology Inc. has signed a worldwide sales, marketing and distribution agreement with April Project 1 Inc. of Florida (API). This is the first agreement with API that will ultimately provide CET royalties of 5%, an initial sum of US$300,000 in cash and a $5,000,000 note payable to CET. API has paid CET US$25,000 in consideration of this first agreement.
In exchange for cash, the $5,000,000 note and royalties, API has obtained the worldwide sales, marketing and distribution rights to Flushaway(TM) products and a right of first refusal to all assigned territories, markets, channels and retailers.
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Flushaway(TM) pads and liners are now carried in K-Mart in the US, and Coles and Priceline in Australia. Product is also available in South Africa, the US Marines Corps worldwide and Bonjour in Hong Kong.
Ecoprogress is diligently working on becoming a lead player in environmentally friendly, absorbent and plastic replacement products. Its first branded product, Flushaway(TM), provides women with the choice of a flushable feminine hygiene product.
ON BEHALF OF THE BOARD OF DIRECTORS
John Banks, CEO and President
Consolidated Ecoprogress Technology Inc.
Statements contained in this news release that are not historical facts are forward-looking statements as that term is defined in the private securities litigation reform act of 1995. Such forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from estimated results. Such risks and uncertainties are detailed in the Company's filings with the TSX-V and on SEDAR.
The TSX Venture Exchange has not reviewed nor accepted responsibility for the adequacy or accuracy of the contents of this news release, which has been prepared by management.
Contacts: Consolidated Ecoprogress Technology Inc. John Banks CEO and President Toll Free: 1-888-326-7764 or (604) 738-7015 (604) 738-7051 (FAX) Email: ir@flushaway.com Website: www.flushaway.com