My meat >> Vitality Products Inc.

Vitality Products hires Bartz to chair ethanol project
2007-11-07 13:15 ET - News Release
Mr. William Grant reports

VITALITY ANNOUNCES APPOINTMENTS; TO RAISE $3 MILLION

Vitality Products Inc. has appointed Thomas Bartz to the newly created
position of chair of the ethanol project analysis team. Mr. Bartz has over
20 years of experience in the petrochemical industry. Mr. Bartz worked at
ExxonMobil, British Petroleum, Tosco and Tesoro Petroleum during his career
in the petrochemical industry. Mr. Bartz held various responsibilities while
in the industry including engineering, business development, wholesale
marketing, and merger and acquisitions. Mr. Bartz's most recent role was
vice-president of retail for Tesoro Petroleum. Mr. Bartz is currently chief
executive officer of Accelitec Inc. Mr. Bartz will be responsible for the
analysis of a sufficiently detailed feasibility study to determine whether
the proposed ethanol plant to be situated in Whatcom county, Washington, is
economically feasible, and he will assist the company in making a decision
to pursue the construction of the plant. Other members of the ethanol
project analysis team include Christopher Landrum, project co-ordinator, and
David Evans, PEng, project manager. The company has made considerable
progress toward making a final decision whether to proceed with the
construction of the plant.
The company is also pleased to announce the appointment of David Randle, BSc,
an experienced marketing and product development specialist, who will
further the development of consumer and commercial marketing and sales
programs for the company's existing approved natural nutraceuticals and
condition-specific formulated products. Mr. Randle has over 30 years of
experience in consumer product marketing in Canada and the United States. In
addition, Mr. Randle will investigate the opportunities for nutraceuticals,
and other consumer and commercial co-products that result from production at
ethanol plants in the North American market.
The company is arranging a non-brokered private placement of up to five
million units of the company at a subscription price of 60 cents per unit
for gross proceeds of up to $3-million, subject to regulatory approval. Each
unit consists of one common share and one share purchase warrant of the
company, and each such warrant will entitle the holder thereof to acquire
one additional common share of the company for a period of two years at a
purchase price per common share of 75 cents for the first year and at a
purchase price of 90 cents for the second year. Finders' fees will be paid
on portions of the private placement. The private placement shares and any
shares acquired upon exercise of the warrants will be subject to a four-
month hold period. The net proceeds of the private placement to the company
will be used, in part, to further develop and enhance the company's existing
and related businesses, for general corporate purposes and to enhance the
company's resulting working capital position as a consequence thereof.

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