FSI INVESTS IN LLC THAT OWNS INDUSTRIAL BUILDING IN MENDOTA, IL

Rhea-AI Summary

Flexible Solutions International, Inc. (FSI) has invested in a property in Mendota, IL. FSI has purchased 80% of an Illinois LLC, called 317 Mendota, which owns an industrial building. FSI subsidiary, ENP, will lease some space in the building and consolidate all operations there. This move will allow NCS subsidiary to occupy space in Peru, IL currently used by ENP. FSI expects the building to support the anticipated growth of both subsidiaries. Additional space in the building will be leased to other companies, with positive cash flow expected in 2024 and beyond.

VICTORIA, BRITISH COLUMBIA, July 06, 2023 (GLOBE NEWSWIRE) -- FLEXIBLE SOLUTIONS INTERNATIONAL, INC. (NYSE-AMERICAN: FSI), is the developer and manufacturer of biodegradable polymers for oil extraction, detergent ingredients and water treatment as well as crop nutrient availability chemistry. Flexible Solutions also manufactures biodegradable and environmentally safe water and energy conservation technologies. Today the Company announces it has invested in a Mendota, IL property.

FSI has purchased 80% of an Illinois LLC, called 317 Mendota, which owns only an industrial building in Mendota, IL. The FSI subsidiary, ENP, will lease some of the space in the building and consolidate all operations there. This will allow the NCS subsidiary to occupy space in Peru, IL currently used by ENP.

FSI believes the building will provide the space needed for anticipated growth by both subsidiaries. There will be substantial additional space in the 317 Mendota building which will be leased to other companies with the hope for positive cash flow in 2024 and thereafter.

About Flexible Solutions International
Flexible Solutions International, Inc. (www.flexiblesolutions.com), based in Victoria, British Columbia, is an environmental technology company. The Company’s NanoChem Solutions Inc. subsidiary specializes in biodegradable, water-soluble products utilizing thermal polyaspartate (TPA) biopolymers. TPA beta-proteins are manufactured from the common biological amino acid, L-aspartic and have wide usage including scale inhibitors, detergent ingredients, water treatment and crop enhancement. Along with TPA, this division started producing other crop enhancement products as well. The other divisions manufacture energy and water conservation products for drinking water, agriculture, industrial markets and swimming pools throughout the world. FSI is the developer and manufacturer of WaterSavr^TM, the world’s first commercially viable water evaporation retardant. WaterSavr^TM reduces evaporation by up to 30% on reservoirs, lakes, aqueducts, irrigation canals, ponds and slow moving rivers. Heatsavr^TM, a “liquid blanket” evaporation retardant for the commercial swimming pool and spa markets, reduces energy costs by 15% to 40% and can result in reduced indoor pool humidity.

Safe Harbor Provision
The Private Securities Litigation Reform Act of 1995 provides a "Safe Harbor" for forward-looking statements. Certain of the statements contained herein, which are not historical facts, are forward looking statement with respect to events, the occurrence of which involve risks and uncertainties. These forward-looking statements may be impacted, either positively or negatively, by various factors. Information concerning potential factors that could affect the company is detailed from time to time in the company's reports filed with the Securities and Exchange Commission.

Flexible Solutions International
6001 54^th Ave, Taber, Alberta, CANADA T1G 1X4

Company Contacts
Jason Bloom
Toll Free: 800.661.3560
Fax: Fax: 403.223.2905
Email: info@flexiblesolutions.com

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To find out more information about Flexible Solutions and our products please visit www.flexiblesolutions.com

FAQ

What is the name of the company mentioned in the press release?

The company mentioned in the press release is Flexible Solutions International, Inc. (FSI).

What does FSI specialize in?

FSI is the developer and manufacturer of biodegradable polymers for oil extraction, detergent ingredients, water treatment, and crop nutrient availability chemistry. They also manufacture biodegradable and environmentally safe water and energy conservation technologies.

What property did FSI invest in?

FSI has invested in a property in Mendota, IL. They purchased 80% of an Illinois LLC, called 317 Mendota, which owns an industrial building.

What will happen with the operations of FSI's subsidiaries?

FSI subsidiary, ENP, will lease some space in the Mendota building and consolidate all operations there. This move will allow the NCS subsidiary to occupy space in Peru, IL that is currently used by ENP.

What is the expected outcome of leasing additional space in the building?

FSI plans to lease the additional space in the 317 Mendota building to other companies, with the hope for positive cash flow in 2024 and beyond.