Thresher Industries Updates Shareholders on Close of Sale

HANFORD, Calif., April 29 /PRNewswire-FirstCall/ -- Thresher Industries, Inc. (Pink Sheets: THRR) provided an update today regarding the sale of the Company.  Thresher has requested a two-week extension to complete the sale of the Company, which was delayed by CEO Tom Flessner's recent bout with pneumonia.  The Company is pleased to report Mr. Flessner is now making a full recovery.

Tom Flessner, CEO of Thresher Industries, Inc., stated, "Despite this small set-back, Thresher is back on track in full force to close the sale of our Company. We understand many of our shareholders have questions regarding the transaction, and would like to provide as much information to them as possible. To this end, we have requested that the name of buyer be disclosed. Should we receive permission to announce the name of our buyer, we will do so by issuing a press release to the public. We hope this can bring additional clarity to the value that our buyer brings to our Company and our shareholders."

"In the interim, our legal counsel has informed us that we are still in a 'quiet period' until a further disclosure agreement can be reached between Thresher and our buyer. Please be advised that our legal counsel, business associates and management team cannot answer any further questions related to this sale, nor should they be contacted in this regard. General questions non-related to the sale of the Company should be directed to Thresher at 559.585.3400 or via email at [email protected]. We appreciate your adherence to these procedures, and thank you for your continued patience," concluded Flessner.

About Thresher Industries, Inc.

Thresher Industries, Inc. is a leading manufacturer of low carbon footprint conventional and custom machined die castings made from 100% recycled aluminum and metal matrix composites. Based in Hanford, California, the Company operates an ISO 9000-compliant, "green" foundry that integrates bio-degradable technologies and processes to lower the economic and environmental costs of production. Thresher offers full engineering support, designing, and prototype development to a variety of industries including: agriculture, aerospace, defense, transportation, and automotive in the U.S. and Europe. For more information, visit http://www.thresherindustries.com.

Statements contained in this news release, other than those identifying historical facts, constitute "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934 and the Safe Harbor provisions as contained in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relating to the Company's future expectations, including but not limited to revenues and earnings, technology efficacy, strategies and plans, are subject to safe harbors protection. Actual Company results and performance may be materially different from any future results, performance, strategies, plans, or achievements that may be expressed or implied by any such forward-looking statements. The Company disclaims any obligation to update or revise any forward-looking statements.

SOURCE Thresher Industries, Inc.

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