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DIGITAL ANGEL’S VISUAL, ELECTRONIC LIVESTOCK TAGS APPROVED FOR
SALE IN CHILE
Tags Manufactured at European Subsidiary Now Registered
in Chile as Official Identification Devices
SO. ST.
PAUL, MN (April 18, 2006) … Digital Angel Corporation (Amex: DOC), an
advanced technology company in the field of rapid and accurate
identification, location tracking, and condition monitoring of high-value
assets, announced today that both its visual and electronic RFID
(radiofrequency identification) livestock tags have now been approved for
sale in Chile.
President and Chief Executive Officer Kevin N.
McGrath stated: “Chile is an important part of our overall strategy of
expanding our business in Latin America and we will be launching a strong
push with both visual and electronic RFID tags to gain a significant share
of this growing market. Chile and other parts of South America such as
Argentina, Brazil and Uruguay have joined the European Union, Japan and
the United States in recognizing the value of traceable beef. We are
excited about this opportunity to expand our operations in the southern
cone of South America and believe Chile will become an important market
for us.”
The approval of Digital Angel’s visual Snaptag and
electronic Digitag with FDX-B radio frequency technology was granted
earlier this month in decree Nº 1629 issued by the Chilean Agricultural
and Cattle Service agency (Servicio Agrícola y Ganadero de Chile). The
tags, which are manufactured by the Company’s Daploma subsidiary in
Denmark, are now registered in Chile as Official Individual Identification
Devices (DIIOs), a mandatory requirement in the Chilean cattle
registration system.
Since launching its business in Chile in
mid-2005, Digital Angel has sold to date more than 35,000 electronic tags
in that country and over the same period it has sold or received firm
orders for approximately 2.4 million livestock tags in Argentina and
44,000 tags in Uruguay.
About Digital Angel
Corporation
Digital Angel Corporation develops and deploys sensor
and communications technologies that enable rapid and accurate
identification, location tracking, and condition monitoring of high-value
assets. Applications for the Company’s products include identification and
monitoring of humans, pets, fish, poultry and livestock through its
patented implantable microchips; location tracking and message monitoring
of vehicles and aircraft in remote locations through systems that
integrate GPS and geosynchronous satellite communications; and monitoring
of asset conditions such as temperature and movement, through advanced
miniature sensors.
Digital Angel Corporation is majority-owned by
Applied Digital Inc. (Nasdaq:ADSX). For more information about Digital
Angel, please visit http://www.digitalangelcorp.com/.
The statements in this press release that are not strictly
historical, are "forward-looking" statements within the meaning of Section
27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934 and are intended to be covered by the safe harbors
created by these sections. The forward-looking statements are subject to
risks and uncertainties and the actual results that the Company achieves
may differ materially from these forward-looking statements due to such
risks and uncertainties, including, but not limited to, that the Company's
majority stockholder, Applied Digital Inc. owns 55.4% of the Company’s
common stock; that new accounting pronouncements may impact the Company’s
future results of operation; that the Company may continue to incur
losses, that infringements by third parties on the Company’s intellectual
property or development of substantially equivalent proprietary technology
by the Company’s competitors could negatively affect the Company’s
business; that domestic and foreign government regulation and other
factors could impair the Company’s ability to develop and sell the
Company’s products in certain markets; that the Company relies on sales to
government contractors of its animal identification products, and any
decline in the demand by these customers for the Company’s products could
negatively affect the Company’s business; that the Company depends on a
single production arrangement for its patented syringe-injectable
microchips; that the Company depends on principal customers; that the
Company competes with other companies and the products sold by the
Company’s competitors could become more popular than the Company’s
products or render the Company’s products as obsolete; that the Company’s
earnings will decline if the Company must write-off goodwill and other
intangible assets; that the exercise of options and warrants outstanding
and available for issuance may adversely affect the market price of the
Company’s common stock; that currency exchange rate fluctuations could
have an adverse effect on the Company’s sales and financial results; and
that the Company depends on a small team of senior management and the
Company may have difficulty attracting and retaining additional personnel.
A detailed statement of risks and uncertainties is contained in the
Company's reports to the Securities and Exchange Commission, including in
particular the Company's Form 10-K for the fiscal year ended December 31,
2004. Investors and stockholders are urged to read this document
carefully. The Company can offer no assurances that any projections,
assumptions or forecasts made or discussed in this release will be met,
and investors should understand the risks of investing solely due to such
projections. The Company undertakes no obligation to revise any
forward-looking statements in order to reflect events or circumstances
that may arise after the date of this press release.
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