Alterrus Systems Inc. Responds to Public Statements
VANCOUVER, BRITISH COLUMBIA, Nov 23, 2012 (Menafn - MARKETWIRE via COMTEX) --It has come to the attention of Alterrus Systems Inc. (cnsx:ASI)(otcqb:ASIUF) that inaccurate comments about the company'sfinancial position have been made public.
The company wishes to set the record straight.
Alterrus has just completed the first vertical, urban greenhouse inNorth America that uses its proprietary VertiCrop technology. LocalGarden Vancouver Inc. - a wholly owned subsidiary of Alterrus - hasdeveloped and is operating this facility located on top of anunderused, city-owned parking garage in downtown Vancouver.
This is the first of what Alterrus believes will be many commercialLocal Garden installations.
Alterrus has invested extensively in research and development in thecreation of its unique, proprietary system. The 6,000-square-footgreenhouse produces leafy greens and herbs under the Local Gardenbrand for distribution to some of Vancouver's leading food retailersand restaurants.
Contrary to public comments suggesting otherwise, Local GardenVancouver Inc. is fully financed with private-sector funding and hassuccessfully secured sales commitments for all of its produce.
In building on an underused parkade roof, Local Garden has alreadycreated over 500,000 in local construction activity and five toseven permanent jobs on what was previously an empty slab ofconcrete. Local Garden Vancouver Inc.'s lease generates secure,multi-year revenue for the City of Vancouver to the benefit of all ofits taxpayers.
Local Garden Vancouver Inc. is a business with a mandate to supplyVancouver with healthy, locally-grown produce while creating jobs,generating further economic activity and providing shareholder value.
About Alterrus Systems Inc. Alterrus is a publicly traded company(cnsx:ASI)(otcqb:ASIUF) headquartered in Vancouver, Canada. It is aworld leader in the development, manufacturing, operation andintegration of commercial VertiCrop technology for global markets.Alterrus has created a sustainable vertical growing system that growsfresh, nutritious, leafy green vegetables in urban environments wherethey are to be consumed. Using a fraction of the resources needed fortraditional field agriculture, Alterrus generates substantiallyhigher yields than conventional farming.
Safe Harbor for Forward-Looking Statements: This press releasecontains forward-looking information, in that it describes events andconditions which Alterrus Systems Inc. reasonably expects to occur inthe future, and statements including opinions, assumptions andestimates. Forward-looking statements include information that doesnot relate strictly to historical or current facts. When used in thisdocument, the words "seeks", "anticipate", "believe", estimate","expect", "forecast", "intent", "may", "project", "plan","potential", "should" and similar expressions are intended to beamong the statements that identify forward-looking statements.Forward-looking statements are not guarantees of future performanceand are subject to a wide range of known and unknown risks anduncertainties, including inability to complete sales in process ordevelop positive cash flow from anticipated product sales, andalthough the Company believes that the expectations represented bysuch forward-looking statements are reasonable, there can be noassurance that such expectations will be realized. We have attemptedto identify important factors that could cause actual results,performance or achievements to vary from those current expectationsor estimates expressed or implied by the forward-looking information.The risks and uncertainties that could affect future events or theCompany's future financial performance are more fully described inthe Company's quarterly reports (on Form 6-K filed in the US and thefinancial statements and Form 51-102F1 filed in Canada), theCompany's annual reports (on Form 20-F filed in the US and thefinancial statements and Form 51-102F1 filed in Canada) and the otherrecent filings in the US and Canada. These filings are available atwww.sec.gov in the US and www.sedar.com in Canada. For all suchforward-looking statements, we claim the safe harbor forforward-looking statements within the meaning of the PrivateSecurities Litigation Reform Act of 1995. The Company disclaims anyobligation to update any forward-looking statements.
The CNSX has neither approved nor disapproved the contents of thispress release. The CNSX does not accept responsibility for theadequacy or accuracy of this release.
Alterrus Systems Inc.
604 263 0634 or cell: 778 999 0064
SOURCE: Alterrus Systems Inc.
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