CORONA, Calif., Feb. 28, 2022 /PRNewswire/ -- Advanced Container Technologies, Inc. (Ticker: ACTX), announced it is exploring the acquisition of the assets and the assumption of some or all of the liabilities of GP Solutions, Inc. ("GP"), a manufacturer of modified insulated shipping containers in which plants, herbs and spices may be grown hydroponically in a controlled environment.

ACTX is currently the sole U.S. distributor for these containers and some related products in certain specific markets.

Discussions between ACTX and are in their preliminary stages and none of the terms and conditions of the acquisition have been determined, including the consideration to be delivered to GP in exchange for its assets or the liabilities of GP that ACTX would assume.

ACTX intends to structure any transaction such that its board of directors and executive officers would not be changed and that voting control of ACTX would not be affected.

GP Solutions is the developer and manufacturer of "GrowPods" – transportable controlled environment farms (also referred to as "vertical farms") built within specially designed repurposed shipping containers. These pods virtually eliminate risk of food contamination and can grow clean crops without pesticides or harmful chemicals. By locating the pods closer to the point of consumption, food can also be harvested at its peak – providing nutritious fruits and vegetables where it is needed, as well as to a variety of sectors, including restaurants, grocery stores, community groups, and non-profits.

For more information on GrowPods or Advanced Container Technologies, call: (951) 381-2555 or visit: www.advancedcontainertechnologies.com.

Safe Harbor Statement

This press release contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about ACTX' beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as "may," "will," "expect," "anticipate," "target," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. All information provided in this press release is as of the date of this press release, and ACTX undertakes no duty to update such information, except as required under applicable law.

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SOURCE Advanced Container Technologies, Inc.