DEERFIELD BEACH, Fla. and NAPOLEONVILLE, La., July 10, 2007 (PRIME NEWSWIRE) -- Red Reef Laboratories International, Inc. (Pink Sheets:RRLB), a scientific research, development, and marketing group focused on commercializing a variety of chemical and biological products, announced today plans for the development of its land at 244 Highway L 10-11 in Napoleonville, LA.
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The site encompasses approximately 80 acres of land, once used to grow and process sugar cane. Since acquiring the land in Dec. 2006, Red Reef has sold off several parcels for residential use and excavation of top soil. The sale and removal of top soil will produce a 20 acre lake, which will enhance the topography and beautify the final design, adding to the desirability of the project for future tenants. Further sale of lots has been suspended permanently in favor of developing the site.
Once a designation of the future site was selected by management, careful consideration was given to the selection of architects and engineers. A combination of important factors led to Whitney, Bailey, Cox and Magnani, LLC, Baltimore, MD. Their intimate knowledge of the Parish and the state, coupled with their broad experience and success in similar projects nationwide were a determining factor in the choice. WBCM performed a cursory study of the area to determine practicality, availability of utilities, local and state regulations, existing and proposed roads and other industries planning to reside in the neighborhood, etc. The study was favorable and the decision was made to go forward. Red Reef presented WBCM's Napoleonville Master Plan Proposal, a draft that displayed a potential layout for discussion, to the Board, and it was unanimously agreed that Red Reef would build a Scientific and Medical Research Park and immediately retain the firm of Whitney, Bailey, Cox and Magnani, LLC as the architects and designers.
Though the site is on high and dry ground, wetlands are in easy proximity. The federal government and the state of LA have designated substantial funds for research and maintenance projects to preserve and protect wetlands in LA. Red Reef feels it has much to contribute in this scientific effort and will also invite tenants to locate and collaborate in the Red Reef Research Park.
Whitney Bailey graciously accepted the assignment and will provide Preliminary Project Site layout and Topographical and Boundary surveys without delay. "Red Reef's commitment to green construction and environmental considerations at all phases of construction and development have made this a project which fits our corporate philosophy and personal preferences. We are eager to demonstrate once more that man can coexist with nature, preserve and maintain idyllic environments and prosper," Kevin L. Nikiel, VP, WBCM.
JDM Capital Corp., NYC, has been selected as Asset Manager and will arrange financing.
About Red Reef Laboratories International, Inc.:
Red Reef Laboratories International, Inc. is a scientific research, development, and marketing group established to assemble, develop, commercialize and bring to market a variety of chemical and biological products, utilizing advanced surfactant technology and increasingly "green" compounds. These series of products are specifically designed for biocidal and virucidal applications. An example of these products at work is the revolutionary BioClear(r) system which enables the company to provide a new generation mold remediation protocol which is convenient and cost effective. The system provides mold remediation in residential, commercial, industrial and institutional buildings quickly, safely and economically; providing higher profitability for the company and savings for insurance companies and property owners. For more information, please visit the Company's web site at www.redreef.biz.
Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: With the exception of historical information, the statements set forth above include forward-looking statements that involve risk and uncertainties. The Company wishes to caution readers that a number of important factors could cause actual results to differ materially from those in the forward-looking statements. Those factors include, but are not limited to, the risk factors noted in the Company's filings with the United States Securities and Exchange Commission, such as the rapidly changing nature of technology, evolving industry standards and frequent introductions of new products, services and enhancements by competitors; the competitive nature of the markets for the Company's products and services; the Company's ability to gain market acceptance for its products and services; the Company's ability to fund its operational growth; the Company's ability to attract and retain skilled personnel; the Company's ability to diversify its revenue streams and customer concentrations; and the Company's reliance on third-party suppliers.
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