Brilliant Global Knitwear Signs 1.5 MM Pound Purchasing Agreement For CRAiLAR Flax Fiber From Naturally Advanced Technologies
VANCOUVER AND PORTLAND, OR, Sept. 27, 2011 /PRNewswire/ - Naturally Advanced Technologies Inc. (NAT) (OTCBB: NADVF) (TSXV: NAT) today announced that it has entered into a purchasing agreement for a minimum of one and a half million pounds of CRAiLAR® Flax fiber with Brilliant Global LTD, the Hong Kong-based private label knitwear manufacturer which produces a broad spectrum of sweater and accessory items in natural fibers for globally recognized brands. The agreement is to commence in October 2011.
"This agreement represents our third purchasing agreement since March and brings our total client roster to seven global brands," said Ken Barker, CEO of NAT. "Brilliant works with the most recognizable brands and retailers in North America and we intend to demonstrate the significant capabilities of CRAiLAR Flax to perform seamlessly within its portfolio, while integrating a sustainable, all-natural fiber into its textile mix and its consumer product story."
About Naturally Advanced Technologies Inc. Naturally Advanced Technologies Inc. develops renewable and environmentally sustainable biomass resources from flax, hemp and other bast fibers. The Company, through its wholly owned subsidiary, CRAiLAR® Fiber Technologies Inc., has developed proprietary technologies for production of bast fibers, cellulose pulp, and their resulting by-products in collaboration with Canada's National Research Council. CRAiLAR technology offers cost-effective and environmentally sustainable processing and production of natural, bast fibers resulting in increased performance characteristics for use in textile, industrial, energy, medical and composite material applications. The Company was founded in 1998 as a provider of environmentally friendly, socially responsible clothing. For more information, visit www.naturallyadvanced.com.Neither the TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this 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-K, Form 10-Q and other SEC filings which are available through EDGAR at 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. SOURCE Naturally Advanced Technologies Inc.
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