Bantec's Howco Distributing Co. Awarded Seven One Year Contracts

SPARTA, N.J., Aug. 2, 2023 /PRNewswire/ -- Bantec, Inc. (OTCPINK: BANTD) ("Bantec" or the "Company"), Bantec, Inc., a product and services company, announces that its subsidiary, Howco Distributing Co., received seven one-year contracts at the beginning of June 2023, which are expected to generate up to $1.75 million in revenue in the aggregate. 

Michael Bannon, Bantec's Chairman and CEO stated: "We received seven purchase orders from the U.S Government Defense Logistics Agency totaling up to $1.75 million. The contracts consist of a variety of items, including marine frequency converters, marine valves, heavy-duty machinery winches, radiator overflow tanks, generators, and part-kits for different applications.

About Bantec 

Bantec, Inc. is a product and service company targeting the U.S. Government, state governments, municipalities, hospitals, universities, manufacturers and other building owners. Bantec also provides product procurement, distribution, and logistics services through its wholly-owned subsidiary, Howco Distributing Co., to the United States Department of Defense and Defense Logistics Agency. The Company established Bantec Sanitizing in fiscal 2021, which offers sanitizing products and equipment through its store bantec.store. The Company has operations based in Sparta, New Jersey and Vancouver, Washington. The Company continues to seek strategic acquisitions and partnerships that offer it an opportunity to grow sales and profit.

Forward-Looking Statements 

Certain statements in this press release may be considered "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995.  Forward-looking statements may be identified by the use of words referencing future events or circumstances such as "expect," "intend," "plan," "anticipate," "believe," and "will," among others.  These forward-looking statements may include projections of matters that affect revenue, operating expenses, projections of growth; and assumptions relating to the foregoing. These forward-looking statements are based upon the Company's current expectations and involve assumptions that may never materialize or may prove to be incorrect. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties. More detailed information about the risks and uncertainties affecting the Company is contained under the heading "Risk Factors" included in the Company's Annual Report on Form 10-K for the year ended September 30, 2022 that the Company filed with the SEC. One should not place undue reliance on these forward-looking statements, which speak only as of the date on which they were made. The Company undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made, except as may be required by law. 

Contacts: 
Michael Bannon
Chairman & CEO
mike@bantecinc.com

 

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SOURCE Bantec, Inc.