GIG HARBOR, Wash., Oct. 18, 2005 (PRIMEZONE) -- Nannaco, Inc. (OTCBB:NANN), in a statement to its shareholders, described its integration progress with Amenni, Inc. as nearly complete and progressing rapidly. The company reaffirmed its primary goal of creating significant shareholder value for existing and new investors. The company expects to generate $6.0 million in revenues in the coming fiscal year.
The company directed shareholders to the recent successes of it merger partner, Amenni, Inc. as examples. Amenni operates in the neutraceutical and pharmaceutical markets, both domestic and international, directly addressing over $2.0 billion in consumer spending markets annually. Its first U.S. product launch, purchased entirely by one of the U.S.'s premier retailers, was the transdermal pain relief patch aimed at athletes suffering from joint pain and stiffness. The patch combines not only approved pain relievers, but also approved anti-inflammatory compounds as well. It is worn during and after athletic activity. There remains no direct competition in the U.S. markets as of this date. And indications of interest from new customers continue to increase.
Amenni's products were originally established in the lucrative pet pharmaceutical markets where they entered into a distribution agreement with a premier pharmaceutical company to deliver joint and pain relief products for horses and dogs in 10 countries. This distribution agreement has yielded better than $1.0 million in revenues to Amenni, Inc. and is expected to conservatively double by calendar year end 2006, distributing its products into 16 - 20 countries at that time, by estimates.
Steve Careaga, CEO of Nannaco, expressed continued praise for Ammeni, Inc. and its operations. "It has been better than anticipated, and we expect real growth in existing product lines as our distribution agreements increase and perform. The gentlemen running Amenni's operations are building the business nicely."
About NANNACO, INC.
Nannaco, Inc. previously provided surface cleaning, surface protection, surface restoration and other services to commercial and industrial businesses, as well as to owners of historical buildings. The company has moved to a new line of business as a consultant and advisor to customers and is seeking to improve its financial position through the acquisition of, or merger with, companies capable of providing the best value to its shareholders.
More information about Nannaco Inc. can be found at www.sec.gov.
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For further information, please contact Steve Careaga at (253) 853-3632, or send correspondence to 4906 Point Fosdick Dr., Suite 102, Gig Harbor, WA 98335.