PORTLAND, OR, Sept. 4 /PRNewswire-FirstCall/ -- Naturally Advanced Technologies Inc. (OTCBB: NADVF, TSXV: NAT; the "Company") today announced that it has enlisted Lippert/Heilshorn & Associates Inc. ("LHA") of New York, to augment the Company's shareholder and investor relations activities.
NAT management continues to deliver sales growth at its HTnaturals apparel subsidiary, and is working on reaching a wider investor audience as it brings to market its proprietary CRAILAR(R) technology platform, expected in 2009.
Under the terms of the Company's agreement with LHA (the "Agreement"); which is subject to the prior review and, if required, approval of the TSX Venture Exchange ("Approval"), LHA will provide certain shareholder and investor services to NAT for the implementation of the Company's financial communications program. LHA is recognized for award-winning programs that draw on the talents and capabilities of their experienced senior team.
The initial term of the Agreement is for a period of 12 months commencing effective on the date of Approval; and NAT will compensate LHA with an average monthly retainer of $10,000 together with the issuance of an aggregate of 100,000 incentive stock options of the Company; issuable in equal amounts to LHA's two Partners; vesting over a period of 18 months and exercisable at a price of $1.25 per option share.
Both Partners of LHA have existing holdings in the Company of 50,000 common shares each, with neither Partner holding more than 0.25% of the Company's outstanding common shares.
ABOUT Naturally Advanced Technologies, Inc.
Naturally Advanced Technologies Inc. is committed to unlocking the potential of renewable and environmentally sustainable biomass resources from hemp and other bast fibers. The Company, through its wholly owned subsidiary, Crailar Fiber Technologies Inc., is developing proprietary technologies for production of bast fibers, cellulose pulp, and their resulting by-products, in collaboration with Canada's National Research Council and the Alberta Research Council. CRAILAR(R) technology offers cost-effective and environmentally sustainable processing and production of natural, bast fibers such as hemp and flax, resulting in increased performance characteristics for use in textile, industrial, energy, medical and composite material applications. The Company is also a provider of sustainable, environmentally friendly fibers and fabrics through its apparel division HTnaturals. Founded in 1998 in response to the growing demand for environmentally friendly, socially responsible clothing, the Company adheres to a "triple bottom line" philosophy, respecting the human rights of employees, the environmental impact of the Company's operations and fiscal responsibility to its shareholders. See http://www.naturallyadvanced.com/.
Neither the TSX Venture Exchange nor any regulatory authority accepts responsibility for the adequacy or accuracy of this news release. Forward Looking Statement Disclaimer
This news release includes certain statements that may be deemed "forward-looking statements". All statements in this news release, other than statements of historical facts, are forward-looking statements. Forward-looking statements or information are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements or information and including, without limitation, risks and uncertainties relating to: any market interruptions that may delay the trading of the Company's shares, technological and operational challenges, needs for additional capital, changes in consumer preferences, market acceptance and technological changes, dependence on manufacturing and material supplies providers, international operations, competition, regulatory restrictions and the loss of key employees. In addition, the Company's business and operations are subject to the risks set forth in the Company's most recent Form 10-KSB, Form 10-QSB and other SEC filings which are available through EDGAR at http://www.sec.gov/. These are among the primary risks we foresee at the present time. The Company assumes no obligation to update the forward-looking statements.
