Bantec's Howco Short Term Department of Defense Contract Wins Will Exceed $1,100,000 for the current Quarter

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Jun 25, 2024, 10:00 ET

SPARTA, N.J., June 25, 2024 /PRNewswire/ -- Bantec, Inc. (OTC-PINK: BANT) ("Bantec" or the "Company"), a product and services company, increased sales, and profits, through its Howco Distributing Co. subsidiary ("Howco"), winning over $1,100,000 in short term Department of Defense contracts so far in Q3.

Michael Bannon, Bantec's Chairman and CEO stated: "We are almost at the end of our third month for the quarter and Howco has surpassed the 1.1 million dollar sales mark for our third quarter. Here are some of the products we sold during the third quarter to the Department of Defense:

Welding pins
Vehicle winches
Vehicle doors
Transmission lifts
Wire rope assemblies
Vehicle mirror assemblies

"Order requests and fulfillment on the post pullers ($65,000 each) has begun from our $4,100,000 long term contract with the Department of Defense we announced back in May," stated Michael Bannon.

More details on the individual contracts can be found on the Federal Procurement website: https://www.fpds.gov/fpdsng_cms/index.php/en/.

About Bantec

Bantec, Inc. is a product and service company targeting the United States 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 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, 2023, 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
[email protected]
(203) 220-2296

SOURCE Bantec, Inc.