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Fero Industries Signs New Distribution Agreement to Expand Sucanon® Presence in the Middle East
Date:12/22/2011

CALGARY, Alberta, Dec. 22, 2011 /PRNewswire/ -- Fero Industries, Inc. (OTCQB: FROI), the exclusive owner, producer and distributor of the Type-II diabetes treatment Sucanon®, is pleased to announce that it has entered into a Distribution Agreement with Premium Pharma Co. for the marketing and distribution of Sucanon® in several countries in the region (Egypt, Saudi Arabia, United Arab Emirates, Bahrain, Kuwait, Qatar, Oman, Jordan, Lebanon, Iraq, Sudan and Libya).

The 5-year Distribution Agreement calls for a minimum purchase of $13 million USD and gives Premium Pharma the exclusive right to market and sell Sucanon® through its established distribution channels and will begin shortly the regulatory process with the Ministries of Health for the sale of Sucanon®. Fero is also taking the necessary steps to comply with the United States government for this Agreement, and the companies expect to complete the licencing process and commence shipping of Sucanon® within a year.

"We are thrilled to be able to expand our presence within the Greater Middle East region to distribute Sucanon® with a well-established and reputable partner," said Mr. Luis Lopez, President and COO of Fero Industries.  "Premium Pharma's regional business and consumer knowledge, along with their established pharmaceutical and healthcare products distribution network, makes them an ideal partner to expand this business model across the Middle East. This new agreement represents a major financial milestone for Fero, as it brings the total in minimum product to be purchased to $24 million USD for the region. We are working to expedite the necessary approvals from the various US government agencies and expect notification soon. This agreement validates Sucanon as a major new drug for Type II diabetes."

Iran and other countries in the Middle East have one of the largest and fastest growing
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SOURCE Fero Industries, Inc.
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