PRESS RELEASE OF VISUALANT, INC. DATED FEBRUARY 19, 2009
Published on February 20, 2009
EXHIBIT
99.1
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PRESS
RELEASE
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Contact
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For
Immediate Release
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Lynn
Felsinger
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Visualant,
Inc.
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206.903.1351
phone
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206.903.1352
fax
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lynn@visualant.net
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Visualant,
Inc. to Acquire TransTech Systems, Inc.
Letter
of Intent with Leading Security and Authentication Company
Seattle, WA., February 19, 2009/Business Wire-Visualant, Inc.
(OTC BB: VSUL), a color technology company (“VSUL”) that is developing
multi-dimensional spectral-based pattern file creation and diagnostic
verification and authentication security solutions, today announced the execution of a
Letter of Intent for the acquisition of TransTech Systems, Inc. of Wilsonville,
OR.
TransTech
Systems, Inc. founded by President Jim Gingo, is a leading provider
of identification, security and authentication products and services through a
global dealer channel as well as government and private sector customers
worldwide. With over $10 million in annual revenues, TransTech can
provide an established market presence for Visualant’s verification technology,
which should enable a rapid deployment of enhanced security and
authentication solutions.
Ron
Erickson, Visualant Chairman said, “We are thrilled to be joining forces with
Jim and the TransTech team. They have a great reputation for
leadership in the provision of client oriented security and authentication
solutions and provide a solid base for distribution of our
technology.”
TransTech
Systems Founder and President, Jim Gingo stated, “In my opinion, Visualant’s
technology has the potential to transform the access control, identification
security and authentication industry. The prospect of working
together to bring world class solutions to our customers and to fill a
significant void in the marketplace is an exciting opportunity and should have
significant appeal to our existing dealer base and end-user
customers.”
The
Letter of Intent provides for the acquisition of privately held TransTech by
Visualant through a combination of cash and stock. The closing is
anticipated to occur before the end of June 2009.
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About
Visualant, Inc.
Visualant,
Inc. (OTCBB: VSUL) (www.visualant.net) is
developing low-cost, high speed, light-based security and quality control
solutions available for use in homeland security, anti-counterfeiting,
forgery/fraud prevention, brand protection and process control
applications. Its patent-pending technology uses controlled
illumination with specific bands of light, measures and records what is seen,
and manages data gathered in an innovative manner enabling devices to establish
a unique spectral signature for both individual and classes of
items. The spectral signatures, when matched against existing
databases, allow precise identification and authentication of any item or
substance.
About
TransTech Systems, Inc.
TransTech
Systems, Inc. is a leading value added distributor specializing in Secure
Identification Badging Systems and components. Based in Wilsonville,
Oregon, TransTech is an authorized distributor of ID card printers, cameras,
access control products, smartcard readers, biometric readers, card materials,
supplies and card production software. More information about TransTech
Systems can be found at www.ttsys.com.
Safe
Harbor Statement
This
release contains forward-looking statements regarding expectations for future
financial performance, which involve uncertainty and risk. It is possible the
Company's future financial performance may differ from expectations due to a
variety of factors including, but not limited to, changes in economic and
business conditions in the world, increased competitive activity, achieving
sales levels to fulfill revenue expectations, consolidation among its
competitors and customers, technology advancements, unexpected costs and
charges, adequate funding for plans, changes in interest and foreign exchange
rates, regulatory and other approvals and failure to implement all plans, for
whatever reason. It is not possible to foresee or identify all such factors. Any
forward-looking statements in this report are based on current conditions;
expected future developments and other factors it believes are appropriate in
the circumstances. Prospective investors are cautioned that such statements are
not a guarantee of future performance and actual results or developments may
differ materially from those projected. The Company makes no commitment to
update any forward-looking statement included herein, or disclose any facts,
events or circumstances that may affect the accuracy of any forward-looking
statement.
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