Digital Angel's Visual, Electronic Livestock Tags Approved for Sale in Chile
April 18 2006 - 8:30AM
PR Newswire (US)
Tags Manufactured at European Subsidiary Now Registered in Chile as
Official Identification Devices SO. ST. PAUL, Minn., April 18
/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 both its visual and
electronic RFID (radiofrequency identification) livestock tags have
now been approved for sale in Chile. President and Chief Executive
Officer Kevin N. McGrath stated: "Chile is an important part of our
overall strategy of expanding our business in Latin America and we
will be launching a strong push with both visual and electronic
RFID tags to gain a significant share of this growing market. Chile
and other parts of South America such as Argentina, Brazil and
Uruguay have joined the European Union, Japan and the United States
in recognizing the value of traceable beef. We are excited about
this opportunity to expand our operations in the southern cone of
South America and believe Chile will become an important market for
us." The approval of Digital Angel's visual Snaptag and electronic
Digitag with FDX-B radio frequency technology was granted earlier
this month in decree No. 1629 issued by the Chilean Agricultural
and Cattle Service agency (Servicio Agricola y Ganadero de Chile).
The tags, which are manufactured by the Company's Daploma
subsidiary in Denmark, are now registered in Chile as Official
Individual Identification Devices (DIIOs), a mandatory requirement
in the Chilean cattle registration system. Since launching its
business in Chile in mid-2005, Digital Angel has sold to date more
than 35,000 electronic tags in that country and over the same
period it has sold or received firm orders for approximately 2.4
million livestock tags in Argentina and 44,000 tags in Uruguay.
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 humans, pets,
fish, poultry 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 55.4% 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) Brian Kennedy (media)
212-691-8087 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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