BAY CITY, Mich., Feb. 26, 2007 (PRIME NEWSWIRE) -- Sarissa Resources, Inc., formerly Michigan Gold Mining Investments, Inc. (Pink Sheets:MGGV), is pleased to announce that the Company has purchased five percent of Botanic Oasis, Inc. for $40,000 and 5 million shares. Botanic Oasis distributes Botanic Pax, a biodegradable product used to increase crop yield, decrease drought losses, and reduce labor and mechanical costs in agriculture.
Botanic Pax is a super-absorbent, hemp mesh sac that resembles a tea bag. Combined with fertilizers, fungicides or plant growth hormones, the bag acts as a reservoir and releases water on demand while making fertilizers more soluble. Botanic Oasis, Inc. supplies the Tea Bags to golf courses, forestry , gardens, greenhouses, nursery industries and municipalities.
"The goal of this cooperative is to develop a network of distributors in key locations and industries to exploit local sales channels. This is a product we see as a substantial part of the future in agriculture considering its effectiveness and its cost-saving potential. I believe this investment is a ground floor opportunity in a fast growing new segment of the agricultural resource industry," stated Ben Fuschino, CEO of Sarissa Resources, Inc.
Botanic Oasis, Inc. was founded in October 2005 with sales currently in ten countries forecasted at $600,000 in 2007 and $2.5 million in 2008. The suggested distributor mark up for Botanic Pax is 100% with a low manufacturing cost of approximately 6-8 cents per unit. The product is currently being used or tested in ten countries and undergoing carbon credit certification and registration with the United Nations.
About Sarissa Resources, Inc.:
Sarissa Resources, Inc., formerly Michigan Gold Mining Investments, Inc., is an American junior exploration company involved in the development of mineral assets in North America. Currently, the Company retains a one hundred percent title to a Platinum/Palladium prospect in Shillington Township named the 'Deadmoose Lake' property. Sarissa Resources also owns a seventy per cent title in the 2,000 acre St. Nicholas property, a Uranium prospect near Elliot Lake, Ontario Canada.
This press release contains "forward-looking statements." Forward-looking statements are statements concerning plans, objectives, goals, plans, strategies, expectations, intentions, projections, developments, future events, or performance, underlying (expressed or implied) assumptions and other statements that are other than historical facts. These forward-looking statements are only predictions. No assurances can be given that such predictions will prove correct. Actual events or results may differ materially. Forward-looking statements should be read in light of the cautionary statements and risks that include, but are not limited to, the risks associated with a small company, our comparatively limited financial resources, and other factors that may adversely impact us. These or other risks could cause actual results to differ materially from the future results indicated or implied in such forward-looking statements. We undertake no obligation to update or revise such statements to reflect events, circumstances, or new information after the date of this press release or to reflect the occurrence of unanticipated or other subsequent events.
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