Within the Past Eleven Days Bantek Inc., through its Subsidiary Howco Distributing Co. Won Approximately 1.6
Million in Contracts with The Federal Government
Bantek, Inc. (OTCPINK:
DRUS) (“Bantek” or the “Company”), a service provider and reseller of drones, insulation jackets and distributor of
products to the U.S. Government, today announced that its subsidiary, Howco Distributing (“Howco”), received approximately 1.6
million in contracts in the last eleven days from the US Defense Logistics Agency. In addition, the Howco team visited Columbus,
Ohio to explore using a secondary packaging option which will help us package our mid-west and east coast supplier products and
visited with the Defense Logistics Land and Maritime contract post-award team and members of the small business administration
office.
Michael Bannon, Bantek’s Chief Executive Officer, commented, “We are continuously exploring different ways to increase our sales
with the U.S. government. When visiting Ohio, we paid a visit to a well-established and capable packing company that can help us
more efficiently and at a lower cost package our mid-west and eastern supplier products. We were thoroughly impressed with their
operation and we look forward to working with them.”
Matt Wiles, Howco’s COO stated, “We recently had an excellent visit with the DLA Land and Maritime in Columbus, Ohio including
members of the post-award contract team, and members of the small business administration office. These meetings were productive
and helped Howco understand how we can better serve the needs of the DLA and support our troops.”
Lindsay Somics, Howco’s Vice President of Business Development, stated, “During our recent trip to Ohio, we were informed that
Howco had a best in class on-time shipping performance rating of 93.4% with the DLA. On-time delivery is something we pride
ourselves on and as we grow, to make sure we continue with the pattern we have established we have enlisted a secondary packaging
house to support our growing business. This will allow us to reduce freight costs and increase margins on items where we didn't
have a competitive edge."
About Howco Distributing Co.
Howco Distributing, a subsidiary of Bantek, Inc., is a premier supplier of spare and replacement parts to a wide variety of
Federal Government agencies, U.S. military prime contractors and commercial customers worldwide. Founded in 1990 and located in
Vancouver, Washington, Howco's services encompass bid solicitation, contract management, packaging and logistics for construction,
transportation, mining and heavy equipment spare and replacement parts to customers worldwide utilizing a wide variety of supply
chain solutions. Howco was the winner of 2017 United States Department of Defense Logistics Agency’s Commander’s Choice Supplier
Award and the 2012 United States Department of Defense Logistics Agency’s Bronze Supplier Award.
About Bantek, Inc.
Bantek, Inc. (OTCPINK:
DRUS), headquartered in Pine Brook, NJ., consists of three separate divisions. First, through Howco Distributing Co., we sell
products primarily to U.S. Department of Defense. Second, through Drone USA we sell drone programs, which consists of drones,
training, COA's and waivers and other drone-related services, to law enforcement, firefighters, security companies, local, state
and our US government. Third, we sell insulation jackets, slates, and insulation services to hospitals, universities, and
manufacturers.
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. These forward-looking statements may include projections of matters that affect revenue,
operating expenses or net earnings; projections of growth; and assumptions relating to the foregoing. Such forward-looking
statements are generally qualified by terms such as: “plans, “anticipates,” “expects,” “believes” or similar words. Forward-looking
statements are inherently subject to risks and uncertainties, some of which cannot be predicted or qualified. Future events and
actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking information.
These factors are discussed in greater detail in our Form 10 filed with the U.S. Securities and Exchange Commission.
Michael Bannon
Chief Executive Officer
mike@bantekinc.com
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