Thresher Industry Inc. initiates procedures for sale

HANFORD, Calif, March 17 /PRNewswire-FirstCall/ -- Thresher CEO Tom Flessner was happy to announce that "as of March 16, 2010 the Board decided to initiate procedures to finalize the sale of the company in an accelerated manner." On March 9, 2010, Thresher Industries received a proposal to purchase their company. The proposition was later approved and disclosed preceding the Board of Directors of Thresher - Industries (Pink Sheets: THRR) special meeting. The Board of Directors opinion is that this offer is exorbitantly admirable with a proposed settlement that exceeds the current market price range. Thresher Industries has been advised by their Corporate Attorneys that the approval to act is not necessary by shareholders and that the Board of Directors has in fact been in contact with the majority shareholders and party's have agreed to the offer price of $0.01 for any and all outstanding shares. Thresher would like completion and closing of the deal before April 10, 2010.