WALNUT CREEK, Calif., Oct. 5, 2011 (GLOBE NEWSWIRE) -- DM Products, Inc. (www.dmproducts.biz) (Pink Sheets:DMPD) announced today the extension of its Manufacturing, Marketing and Distribution Agreement for the Banjo Minnow Fishing Lure System (Banjo Minnow).
Since the company's acquisition of Direct Success, Inc. in July, 2005, DM Products has maintained the exclusive rights to manufacture, market, sell, and distribute the Banjo Minnow. To date, the Banjo Minnow has primarily been promoted through the airing of a thirty minute infomercial, which can be seen throughout the United States and Canada. DM Products currently receives a royalty on each sale of the product.
Pursuant to the terms of the original agreement, the rights set forth above were due to expire at the end of 2011. However, the contract contains a provision allowing the extension of this arrangement for an additional 6 months, through June 2012. The option to exercise this option has now been exercised and the company will continue to maintain the exclusive marketing and distribution rights for the period indicated.
"Although we are continually looking at and pursuing additional products to launch using our direct marketing model, we are pleased to maintain the rights to the Banjo campaign," said Kurtis Cockrum, President and Chairman of DM Products, Inc. "We hope to announce new and revolutionary products in the near future," Cockrum added.
DM Products, through its wholly owned subsidiary, Direct Success, Inc., develops, finances, produces, markets, and distributes unique and innovative health, beauty, fashion, fitness and other products for sale through infomercial marketing and distribution channels.
The DM Products, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7920
This press release includes certain statements that fall within the definition of "forward-looking statements" under the Private Securities Litigation Reform Act of 1995. Any such statements are subject to risks and uncertainties, overall economic and market conditions, competitors' and clients' actions, and weather conditions, which could cause actual results to differ materially from those anticipated. Accordingly, such statements should be considered in light of these risks. Any prediction by DM Products is only a statement of management's belief at the time the prediction is made. There can be no assurance that any prediction, once made, will continue thereafter to reflect management's belief, and DM Products does not undertake to update publicly its predictions, whether as a result of new information, future events or otherwise.
More information can be found on the company website, www.dmproducts.biz or email dmproducts@dmproducts.biz. 925 943 2090