CLARINDA, Iowa, July 20, 2010 (GLOBE NEWSWIRE) -- Naturally Iowa, Inc.'s (Pink Sheets:NLIA) CEO and Founder William Horner announced today that the company's seven years' research and market development activities have attracted the attention of Deer Lake Partners, a venture capital/management group from Tulsa, Oklahoma. Deer Lake Partners brings their financial strength and an impressive track record in business development to Naturally Iowa, Inc. William Horner stated, "Reorganization of the Board of Directors, along with a restructuring of the company, bodes well for our continuing growth and positive future developments."
Horner continued, "Even though everyone knows that 2009 sent shock waves through small businesses, we have been able to capitalize on the key element of our business…the utilization of Ingeo™ bottles for sustainable and environmentally friendly packaging."
Rob Phillips, Naturally Iowa's newly elected President of the Board of Directors, stated, "Our group took a careful look at the company, its personnel, and its mission. We believe that the pioneering achievements in the area of sustainability and environmental responsibility put Naturally Iowa, Inc. in a virtual class by itself."
The transaction, which closed July 2nd, moves the company forward now with no debt, the addition of a strong management team with impressive business credentials, and a robust credit line to achieve their primary business goal--to offer businesses and local, state, and federal government facilities an on-site compostable solution to food waste and water bottles. Reducing the carbon footprint of food waste and water bottles can now result in a notable increase in their bottom line as well. Horner concluded his remarks by thanking Naturally Iowa, Inc.'s shareholders for their "long-term outlook that compelled so many of them to invest in the company in the first place."
More details concerning the company's plans, activities, acquisitions and placements will be provided in the near future.
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