DENVER, Feb. 6, 2013 /PRNewswire/ -- FusionPharm,
Inc. (OTC: FSPM), the developer of the patent pending
PharmPods™ hydroponic cultivation system,
today announced that it has completed the sale of 8 PharmPod High
Intensity containers (www.pharmpods.com) under its licensing
agreement with Meadpoint Venture Partners ("Meadpoint"). PharmPod
H.I containers utilize High Intensity Discharge (HID) and/or High
Pressure Sodium (HPS) lighting systems to achieve outstanding
results with fruiting and flowering plants. The sale completes the
terms of Meadpoint's initial order under a license agreement signed
in November 2012 under which
Meadpoint also agreed to minimum purchases of 50 containers in both
2013 and 2014.
"We are very pleased with the performance of Meadpoint Venture
Partners as our primary channel partner for the distribution and
sale of our PharmPod High Intensity containers," said FusionPharm
CEO Scott Dittman. "We are excited
about the potential of our HI containers as an effective and
economical medium for the cultivation of fruiting and flowing
plants in a high-growth industry."
About FusionPharm, Inc.
FusionPharm, Inc. was
organized to capitalize on opportunities present in the rapidly
growing the $26 billion organic food
and specialty herb market. FusionPharm's primary focus is the
development and deployment of the patent pending
PharmPods™ advanced hydroponic cultivation
systems. PharmPods are constructed from standard ISO steel shipping
containers that are repurposed for use in indoor plant cultivation.
Using advanced lighting technology, cutting edge growing media and
proprietary cultivation techniques, a single PharmPod is capable of
growing more produce than one full acre of traditional agriculture
in less than half the time using 90% less water than traditional
agriculture and no harmful pesticides or herbicides.
NOTES ABOUT FORWARD-LOOKING STATEMENTS: Except for any
historical information contained herein, the matters discussed in
this press release contain forward-looking statements that involve
risks and uncertainties, including those described in the Company's
Securities and Exchange Commission reports and filings. Certain
statements contained in this release that are not historical facts
constitute forward-looking statements, within the meaning of the
Private Securities Litigation Reform Act of 1995, and are intended
to be covered by the safe harbors created by that Act. Reliance
should not be placed on forward-looking statements because they
involve unknown risks, uncertainties and other factors, which may
cause actual results, performance or achievements to differ
materially from those expressed or implied. Forward-looking
statements may be identified by words such as estimates,
anticipates, projects, plans, expects, intends, believes, should
and similar expressions and by the context in which they are used.
Such statements are based upon current expectations of the Company
and speak only as of the date made. The Company undertakes no
obligation to update any forward-looking statements to reflect
events or circumstances after the date on which they are made.
Contact: FusionPharm, Inc.
info@fusionpharminc.com
SOURCE FusionPharm, Inc.