LAS ANGELES, December 2 /PRNewswire-FirstCall/ -- Fountain Healthy Aging Inc. (OTCBB: FHAI) announced today that it would initiate a programme of regular updates to shareholders, keeping them informed of the significant progress which Fountain is making in the fulfilment of its business plan, as well as to provide shareholders with regular updates on the progress of proceedings against Dunn Capital Partners and others.
Fountain reports that it continues to work closely with Natural Planet in integrating their businesses and products. Formal closing of the acquisition of Natural Planet has been postponed pending the fulfilment of the final condition to closing, namely the finalization of audited financial statements for Natural Planet. These statements are in preparation and are expected to be completed shortly. The acquisition of Natural Planet is being structured as an all share deal and no cash consideration will be paid.
Fountain already has an exclusive worldwide license to distribute the nine Natural Planet's products that have been specifically targeted at the anti-aging market. Eight are currently being marketed under the Natural Planet brand, but are in the process of being rebranded as Fountain products. The ninth, Vitalife, has already been rebranded. All of the products to which Fountain already has an exclusive right can be viewed at the web page http://www.naturalplanetusa.com/ha.html The balance of the Natural Planet products, comprising over 50 additional products, will become available for Fountain to market after closing of the acquisition, and some of these products will be rebranded as Fountain products. These products can be viewed at the web page http://www.naturalplanetusa.com/nutraceuticals.html
Fountain announces that it has recently entered into a preliminary agreement with a distributor of its products in Japan. The Japanese distributor is in the process of submitting the required application for the approval of Fountain's anti-aging products in Japan, after which full scale distribution would commence immediately. In addition, Fountain announced that it is in active discussions with a number of distributors in the US as well as with 2 of Natural Planet's existing distributors in the Far East outside Japan, Dokudami Asia Co Ltd, and the Singapore based Wellness Travel Company. Fountain anticipates that it will be in a position to conclude some or all of these distribution contracts in time for distribution to commence in the first quarter of 2010.
Fountain CEO, Paul Hunston, commented that he was "delighted with the progress which had been made over the past few weeks in progressing Fountain's ambitious business plans, which is a credit to the Fountain and Natural Planet management teams. We remain on course to achieve our targets, and I am looking forward to building a solid growing company with substantial revenues through the course of the coming year".
About Fountain Healthy Aging
Fountain Healthy Aging is a company specifically focussed in the anti aging industry, which is one of the quickest growing industry sectors worldwide. We have a range of products targeted at the anti aging market, including our revolutionary flagship product Vitalife, which
we believe is ready to make a massive impact in the anti-aging industry. We recognize the importance of the anti-aging sector, an emerging dynamic within the overall health and wellness revolution. We believe that we are uniquely positioned to capitalize on this rapidly growing trend first with our unique flagship product, rapidly followed into the market by our other products which have been specifically developed for this market. Fountain Healthy Aging's main focus is on the specialty, premium product category, which is a growing segment of the market that provides gross margins significantly higher that the lower-priced, mainstream health products market.
The statements in the press release that relate to the company's expectations with regard to the future impact on the company's results from new products or actions in development are forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. The statements in this document may also contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Since this information may contain statements that involve risk and uncertainties and are subject to change at any time, the company's actual results may differ materially from expected results.
SOURCE Fountain Healthy Aging Inc
|SOURCE Fountain Healthy Aging Inc|
Copyright©2009 PR Newswire.
All rights reserved