Megola Inc. to Manufacture Their AF21 Anti-Fire Inhibitor Under the Product Names of Fire Inhibitor Coating (FIC) and Fire Inhibitor Powder (FIP)
SARNIA, Ontario, May 26, 2011 /PRNewswire/ — Megola Inc. (OTCBB: MGON), a leading environmental solution provider, announces that it has changed the product name of its recent recipe purchase of AF21 Anti-Fire Inhibitor to Fire Inhibitor Coating (FIC) and Fire Inhibitor Powder (FIP). Megola Inc. will continue to manufacture FIC and FIP and continue to establish vertical sales markets.
Megola Inc. announced on May 9, 2011 that it had signed a Technology Purchase Agreement with 1771601 Ontario Inc. for the purchase of their Intellectual Properties to their AF21 Anti-Fire Inhibitor product. As stipulated in the Agreement Megola Inc. may change the name of the product to a Megola Inc. brand name.
“As Megola has been blending the fire inhibitor in North America for the past couple of years the company feels a new manufacturing name will help to better distinguish our product and allow for specific industry branded promotion to compete against conventional Fire Retardant (FR) products,” states Joel Gardner, CEO of Megola Inc.
Gardner adds, “Obtaining the ownership of the technology has allowed us to make any modifications required so that Megola can better serve specific industries and applications. It will also allow Megola the potential of initiating patents for the different blends.”
Megola has been targeting its FIC product for use in several industries and more specifically the wood industry as a stand alone topical treatment or for blending with other wood treatment products.
FIC – Fire Inhibitor Coating
Unlike many current fire retardant solutions, which only delay the start of fires, FIC is a total fire inhibitor, rendering all natural materials and many synthetics non-flammable.
Water-based, non-toxic, and environmentally-friendly, FIC is a safe alternative to current fire retardant chemicals.
For more information on Megola Inc., please visit www.megola.com
Shareholders and investors are strongly cautioned against placing undue reliance on information set forth in these communications in making any investment decisions concerning our securities.
The matters set forth in this press release are forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially. These risks are detailed from time to time in the company’s periodic reports filed with the Securities and Exchange Commission including the company’s Annual Report, Quarterly Reports and other periodic filings. These forward-looking statements speak only as of the date hereof. The company disclaims any intent or obligation to update these forward-looking statements.
SOURCE Megola Inc.