FARMINGTON HILLS, Mich., March 4, 2010 (GLOBE NEWSWIRE) -- Eternal Image, Inc. (the "Company") (OTCBB:ETNL), a public company engaged in the design, manufacturing and marketing of officially licensed funerary products such as caskets, urns, monuments and vaults, today announced that it has begun taking steps to form a division with the express purpose of running a new area of the Company's business—the marketing of candle, prayer card, register book, and other ancillary product lines around the world.
"We have been discussing the establishment of this new division for some time and have been looking for a qualified person to head it," said Nick Popravsky, VP Sales & Marketing, Eternal Image. "We believe that we have that person. We have been having discussions with a former gift-industry leader who is very qualified for the position. If he agrees, he will come out of retirement to spearhead this project. His previous experience in the gift business is quite extensive and includes ownership of a $60 million gift company."
Eternal Image is currently wrapping up negotiations with various suppliers for these ancillary products and will disclose complete information on the division once product release dates are established.
"Presently, the plan is that this will not be a separate subsidiary, but an actual area of operation within our Company" added Clint Mytych, CEO, Eternal Image. "I want it to be clear that the forthcoming division is to be part of Eternal Image, and the medium through which we will handle the enormous segment of candles and stationary that in the U.S. alone is a $2 billion industry annually. I expect this project to be completed and ready for launch over the next several months."
About Eternal Image
Eternal Image, incorporated in 2006, is headquartered in Farmington Hills, MI. The company is among the first and only manufacturer and marketer of licensed brand image funerary products. Currently, the company offers urns and caskets that feature licensed images from Major League Baseball™, STAR TREK™, Precious Moments®, and the Collegiate Licensing Company™, the Vatican Observatory Foundation™ as well as pet urns featuring the American Kennel Club™, and Cat Fanciers' Association™. For more information about EI, visit www.eternalimage.net or call 1-888-6-CASKET.
SAFE HARBOR STATEMENT
Statements in this news release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1993 and Section 21E of the Securities Exchange Act of 1934.
Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors, which include but are not limited to risk factors inherent in doing business. Forward-looking statements may be identified by terms such as "may", "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "forecasts," "potential" or "continue" or similar terms or the negative of these terms.
Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. These forward-looking statements are based on information currently available to the Company and are subject to a number of risks, uncertainties, and other factors that could cause the Company's actual results, performance, prospects, and opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, such factors, including risk factors, discussed in the Company's Registration Statement on Form SB-2, as amended on Form S-1, See www.sec.gov. Except as required by the Federal Securities law, the Company does not undertake any obligation to release publicly any revisions to any forward-looking statements to reflect events, circumstances or changes in expectations after the date of this report.
The company has no obligation to update these forward-looking statements.