Natrol, Inc. (Nasdaq: NTOL) and Gener8Xion Entertainment (BB: GNXE) Announce Strategic Alliance to Create a New Health and Wellnes... ( CHATSWORTH and LOS ANGELES Calif....)

HOME >> MEDICINE >> NEWS

Natrol, Inc. (Nasdaq: NTOL) and Gener8Xion Entertainment (BB: GNXE) Announce Strategic Alliance to Create a New Health and Wellness Division

Date:11/19/2007

CHATSWORTH and LOS ANGELES, Calif., Nov. 19 /PRNewswire-FirstCall/ -- Natrol, Inc, (Nasdaq: NTOL), a leading manufacturer and marketer of nationally branded nutritional products, and Gener8Xion Entertainment, Inc. (OTC Bulletin Board: GNXE), a fully integrated family/faith-based entertainment company, have executed a letter of intent for a strategic alliance to create a new Health and Wellness Division. Natrol intends to exclusively license the "Living Pure" brand to Gener8Xion.

Natrol will assist GNXE in developing a Health and Wellness division and will provide products, services and strategy for GNXE's community of interest and target market. Natrol will provide support services to GNXE.

Natrol will pay to GNXE the sum of One Hundred and Fifty Thousand Dollars ($150,000) and GNXE will execute a convertible note for the same amount (the "Note"), convertible at Natrol's option into 750,000 shares of common stock (the "Shares"). If a definitive written agreement is entered into prior to the maturity date, Natrol shall forgive the debt represented by the Note in full and the above option will be cancelled.

In addition, GNXE will issue to Natrol warrants, options or similar instruments ("Warrants") to be determined equal to forty percent (40%) of the fully diluted capital of GNXE. The Warrants will have a strike price of $0.80. The term of the Warrants will be three (3) years.

Natrol will license the "Living Pure" brand exclusively to GNXE for $1 and will provide Living Pure branded products to GNXE. The transaction is subject to further "due diligence" by both parties and the approval of a definitive agreement by the Boards of Directors of GNXE and Natrol.

The parties will immediately begi
'/>"/>

0

GOOD

Page: 1 2 3 4
Related medicine news :

1. National Kidney Foundations 27th Annual Kidney Ball Featuring Entertainment by Patti LaBelle
2. HHS Announces $75 Million in Supplemental Funding to States for Pandemic Flu Preparedness
3. CRC Health Group Announces Acquisition of Bayside Marin Recovery Center, San Rafael
4. UHW Announces: Antelope Valley Hospital Caregivers and Board Vote to Ratify First Union Contract With SEIU UHW-West
5. HEI, Inc. Announces Sale of RFID Division Assets
6. Caraco Pharmaceutical Laboratories, Ltd. Announces FDA Approval to Market Generic Version of Zyloprim(R)
7. Mettler-Toledo International Inc. Announces Webcast of Presentation at Thomas Weisel Partners 2007 Healthcare Conference
8. Z Trim Announces Revocation of Gregory Halpern Severence Agreement
9. Brooke Franchise Corporation Announces Selected July Results
10. Manor Care, Inc. Announces Record Date for Special Stockholder Meeting
11. National Association of Subrogation Professionals (NASP), the Largest Insurance Subrogation Association in the World - Announced Today that Leslie Wiernik has Joined the Organization as Director of Education

Post Your Comments:

Natrol, Inc. (Nasdaq: NTOL) and Gener8Xion Entertainment (BB: GNXE) Announce Strategic Alliance to Create a New Health and Wellnes...( CHATSWORTH and LOS ANGELES Calif....),Health