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Mace Security International, Inc. MACE SECURITY INTERNATIONAL, INC. SELLS LUBBOCK, TEXAS CAR WASH Horsham, PA, March 17, 2010 -- Mace Security International, Inc. ("Mace" or the "Company") (NASDAQ Global: MACE) today announced that it has sold a car wash facility located in Lubbock, Texas. With the sale, the Corporation currently has seven remaining car washes. The sales price for the Lubbock car wash was $ 750,000 with the company netting $ 733,000 in cash after closing costs. Dennis Raefield, Mace's CEO and President stated. "We are pleased to announce this sale as it displays continued progress in achieving our goal of exiting the car wash business." Certain statements and information included in this press release constitute "forward-looking statements" within the meaning of the Federal Private Securities Litigation Reform Act of 1995. When used in this press release, the words or phrases "will likely result", "are expected to", "will continue", "is anticipated", "estimate", "projected", "intend to" or similar expressions are intended to identify "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are subject to certain risks, known and unknown, and uncertainties, including but not limited to the final results of the independent investigation, the determination of the Panel with respect to the Company's request for an exception to Marketplace Rule 4310(c)(14), the impact on trading in the Company's common stock if the exception is not granted and the Company's common stock is delisted, economic conditions, dependence on management, dilution to shareholders, limited capital resources, the effects of weather on the demand for car care services, the effects of rapid growth on Mace and the ability of management to effectively respond to that growth, our ability to achieve operating synergies, our ability to compete against established competitors, regulatory matters, the effects of competition, and our ability to obtain additional financing. Such factors could materially adversely affect Mace's financial performance and could cause Mace's actual results for future periods to differ materially from any opinions or statements expressed within this press release. Additional discussion of factors that could cause actual results to differ materially from management's projections, forecasts, estimates and expectations are contained under the heading "Risk Factors" in Mace's SEC filings, including its registration statements and its periodic reports on Form 10-K and Form 10-Q. This press release should be read in conjunction with the financial statements and notes contained in Mace's annual reports on Form 10-K and quarterly reports on Form 10-Q. |
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