Subscribe To Our Penny Stock Feed For the Latest News
Jul 31, 2008 9:21:00 AM
TORONTO -- (MARKET WIRE) -- 07/31/08 -- Conforce International, Inc. (PINKSHEETS: CFRI) ("Conforce" or the "Company") announced today that in connection with the Letter of Intent (LOI) it received from a US-based supplier of special purpose custom containers to the United States Military, the status of the definitive agreement between the parties remains unchanged.
According to a press release issued on May 28, 2008, Conforce received an LOI from a US-based Military contractor for the purchase of the Company's newly developed composite product specifically designed for use in specialized United States Military containers. The LOI contemplates a multi-year contract whereby Conforce will provide product for a minimum of 10,000 special application containers.
According to the company's US Military contractor, the awarding of the contract has been delayed pending administrative clarifications. Notwithstanding the delay, Conforce continues its production preparations and remains extremely confident that the definitive agreement between the parties will be executed in the very near term. In the event that the agreement has not been executed by August 19, 2008, the Company will provide shareholders and interested parties with an update as to the status of the negotiations.