DEERFIELD BEACH, Fla., Dec. 18, 2006 (PRIME NEWSWIRE) -- Red Reef Laboratories International, Inc. (Pink Sheets:RREF) announced today that its Board of Directors has approved a 6-for-1 forward stock split of the Company's common stock. Each shareholder of record at the close of business on December 15, 2006 will receive five (5) additional shares for every outstanding share held as of the date thereof. The payment date for the additional shares will be December 20, 2006, with distribution of the new shares to also occur on or about December 20, 2006. Shareholders who hold free trading and or restricted shares must deliver certificates to the transfer agent for payment. Transfer agent will remit new shares by mail, bearing a new CUSIP number.
The Board of Directors believes that this action will increase shareholder value and create more trading liquidity. The stock split will not change shareholders' existing proportionate ownership.
Red Reef Labs plans to create a full-service remediation organization that will provide a broad range of services including soil reclamation, water purification, bio-hazard and trauma site remediation, mold remediation, asbestos removal and encapsulation, etc., utilizing state-of-the art protocols and Red Reef Labs' proprietary advanced surface decontamination products. These products have been proven effective against a broad variety of organisms, including Avian influenza A Viruses, Staphylococcus aureus, Escherichia coli (E-Coli), and many others, and have applications in a variety of markets including farms and poultry farms, the hospitality industry, including cruise ship remediation and maintenance, hospital cross contamination, veterinary offices and hospitals, etc.
Continued and recent outbreaks of E-Coli and Salmonella-type contamination in America's food supply as well as viral infestations such as Norwalk affecting the cruise industry may bode well for the Red Reef Labs' BioClear line of products for surface decontamination.
Red Reef Labs' recently acquired real estate assets in Napoleonville, La. are for the express purpose of launching its remediation efforts in an area of the country considered best suited to showcase Red Reef Labs' proprietary decontamination technology.
The introduction of Red Reef Labs' BioClear(tm) family of products for surface decontamination scheduled for early spring of 2007 corresponds with Red Reef Labs' contract with Benchmark China Ltd., wherein Benchmark has purchased the rights to distribute signature BioClear products approved for use in sanitizing poultry farms as a deterrent against Avian Influenza; ("Asian Bird Flu").
Red Reef Labs officers and employees take this opportunity to wish our loyal shareholders and all who read this release a glorious holiday season.
Forward-Looking Statements
Certain statements in this news release may contain 'forward-looking' information within the meaning of the Federal securities laws. All statements, other than statements of fact, included in this release may include forward-looking statements that may involve risks and uncertainties. There can be no assurance that such statements will be accurate and actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances or to reflect unanticipated events or developments.
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