Digital Angel's Canadian Distributor Named Exclusive Supplier of Identification Tags for U.S. Beef Cattle Imported to Canada
July 21 2005 - 8:30AM
PR Newswire (US)
Digital Angel's Canadian Distributor Named Exclusive Supplier of
Identification Tags for U.S. Beef Cattle Imported to Canada
Canadian Government Mandates All Imported Beef Cattle be
Electronically Tagged SO. ST. PAUL, Minn., July 21
/PRNewswire-FirstCall/ -- Digital Angel Corporation (AMEX:DOC), an
advanced technology company in the field of rapid and accurate
identification, location tracking, and condition monitoring of high
value assets, announced today that the Canadian Cattlemen's
Identification Association (CCIA) has named the Company's Canadian
distributor of livestock products as the exclusive supplier for
electronic radiofrequency identification (RFID) ear tags for beef
cattle imported from the U.S. to Canada. Digital Angel's Canadian
distributor, Edmonton-based Compass Animal Health, has placed an
initial order for 5,000 electronic tags with an estimated 200,000
U.S. beef cattle expected to cross the border during the course of
a year. The CCIA, created by the Canadian government several years
ago to implement a national cattle identification program, recently
announced that all beef cattle crossing the borders into Canada
must be electronically tagged to identify their place of birth. A
bi-lateral ban on cattle importation between Canada and the U.S.,
which had been in place since the discovery of a cow with Mad Cow
disease in December 2003, was recently lifted. This new import tag
is intended to visually differentiate U.S. cattle from Canadian
cattle and their unique identity will be maintained in the CCIA
database. The exclusivity is expected to last until the U.S.
implements its own national identification program. The CCIA had
previously approved Digital Angel's full line of Destron-Fearing(R)
brand electronic cattle identification products after four years of
testing for retention, readability and overall functionality at
feed lots and packing programs throughout Canada. Digital Angel is
considered one of the pioneers in animal RFID products and has been
in the livestock tagging business since 1948. "We believe this
announcement underscores the faith the Canadian government has in
our electronic RFID products," said Digital Angel President and CEO
Kevin McGrath. "We have already been working closely with the
Canadian government on its national cattle identification program
and now Compass, our partner, has been granted the exclusive rights
to the new, restarted import market. We applaud the Canadian
government for understanding the value inherent in tracing the
movement of cattle through electronic tagging." About Digital Angel
Corporation Digital Angel Corporation develops and deploys sensor
and communications technologies that enable rapid and accurate
identification, location tracking, and condition monitoring of
high-value assets. Applications for the Company's products include
identification and monitoring of pets, humans, fish and livestock
through its patented implantable microchips; location tracking and
message monitoring of vehicles and aircraft in remote locations
through systems that integrate GPS and geosynchronous satellite
communications; and monitoring of asset conditions such as
temperature and movement, through advanced miniature sensors.
Digital Angel Corporation is majority-owned by Applied Digital Inc.
(NASDAQ:ADSX). For more information about Digital Angel, please
visit http://www.digitalangelcorp.com/. The statements in this
press release that are not strictly historical, are
"forward-looking" statements within the meaning of Section 27A of
the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934 and are intended to be covered by the safe
harbors created by these sections. The forward-looking statements
are subject to risks and uncertainties and the actual results that
the Company achieves may differ materially from these
forward-looking statements due to such risks and uncertainties,
including, but not limited to, that the Company's majority
stockholder, Applied Digital Inc. owns 55.2% of the Company's
common stock; that new accounting pronouncements may impact the
Company's future results of operation; that the Company may
continue to incur losses, that infringements by third parties on
the Company's intellectual property or development of substantially
equivalent proprietary technology by the Company's competitors
could negatively affect the Company's business; that domestic and
foreign government regulation and other factors could impair the
Company's ability to develop and sell the Company's products in
certain markets; that the Company relies on sales to government
contractors of its animal identification products, and any decline
in the demand by these customers for the Company's products could
negatively affect the Company's business; that the Company depends
on a single production arrangement for its patented
syringe-injectable microchips; that the Company depends on
principal customers; that the Company competes with other companies
and the products sold by the Company's competitors could become
more popular than the Company's products or render the Company's
products as obsolete; that the Company's earnings will decline if
the Company must write-off goodwill and other intangible assets;
that the exercise of options and warrants outstanding and available
for issuance may adversely affect the market price of the Company's
common stock; that currency exchange rate fluctuations could have
an adverse effect on the Company's sales and financial results; and
that the Company depends on a small team of senior management and
the Company may have difficulty attracting and retaining additional
personnel. A detailed statement of risks and uncertainties is
contained in the Company's reports to the Securities and Exchange
Commission, including in particular the Company's Form 10-K for the
fiscal year ended December 31, 2004. Investors and stockholders are
urged to read this document carefully. The Company can offer no
assurances that any projections, assumptions or forecasts made or
discussed in this release will be met, and investors should
understand the risks of investing solely due to such projections.
The Company undertakes no obligation to revise any forward-looking
statements in order to reflect events or circumstances that may
arise after the date of this press release. Contact: Allen &
Caron Inc. Michael Lucarelli (investors) 212-691-8087 Brian Kennedy
(media) 212-691-8087 DATASOURCE: Digital Angel Corporation CONTACT:
investors, Michael Lucarelli, , or media, Brian Kennedy, , both of
Allen & Caron Inc., +1-212-691-8087, for Digital Angel
Corporation Web site: http://www.digitalangelcorp.com/
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