EPTI Environmental Packaging Technologies Holdings Inc (CE)

EnsurApet, Inc. (OTCBB: EPTI), a leading provider of pet health insurance, announced today that the Company and Samir Financial, LLC, have entered into an agreement to retire the Ensurapet note payable due and owing to Samir, in the amount of $6,000,000 in exchange for three million restricted common shares, a $1 million payment, and a new conventional 0% interest, $1 million, fifteen month, promissory note. The three million restricted shares of the company�s common stock shall be subject to SEC Rule 144 restrictions as well as an executed 12 month lock up agreement. The shares shall be in restricted certificate form during the entire twelve-month period and will result in no dilution to shareholders as the shares are already included in the 27,562,724 common shares issued and outstanding on a fully diluted basis. Russell Smith, CEO of EnsurApet, Inc., stated, �This debt conversion coupled with the company�s recent announcement of its financing agreement with JPC Capital Partners, a NASD Registered Broker Dealer, significantly improves the company�s balance sheet and overall financial strength. The company is now in an accelerated position to execute on its business objectives and to provide the much needed services to an industry where pet owners spend more than $18 billion annually.� Mr. Smith continued, �This conversion of the majority of the company�s debt into equity, with no dilution to the shareholders demonstrates the long term commitment and belief in our business model by our original investors. It also sends a strong message to the financial community of the viability of our business model, and the growing demand for our services in the rapidly growing pet health insurance market.� About EnsurApet EnsurApet is a leading provider of pet health insurance and pet health-related services. Programs include its Get HIP� Pet Health Insurance for Pets program, a comprehensive full-coverage pet health insurance plan. EnsurApet provides pet and horse resource centers through the Internet including VetpetMD�, Spot the Pet�, a lost and found registration service and possible GPS pet tracking collar (in the future), and Purrfect Pet Club�. Programs include life, liability, and health insurance for pets, horses and other companion animals. Visit: www.ensurapet.com for more information. Safe Harbor Statement This release includes forward-looking statements which describe the Company's business strategy, outlook, objectives, or goals. Such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those forward-looking statements. This is an informational release, not a solicitation for insurance coverage or benefits.