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HealthSport, Inc. Announces Agreement for $10 Million Investment by SMI Manufacturing
Date:11/10/2009

e investment will be used to strengthen HealthSport's working capital position, provide funds for R&D and enhance HealthSport's current manufacturing plant, creating a state-of-the-art, GMP compliant R&D and production facility.

Closing of the transaction is contingent on certain conditions and the fulfillment of certain covenants that, if not met, could result in the termination of the financing. A full description of the terms of the stock purchase agreement and other transaction agreements can be found in the Form 8-K that the Company has filed on the same date as the issuance of this press release.

About HealthSport, Inc.

HealthSport, Inc. (www.healthsportinc.com) is a fully integrated developer, manufacturer and marketer of unique and proprietary branded and private label edible film strip nutritional supplement and over-the-counter drug products. HealthSport's wholly-owned subsidiary, InnoZen, Inc. (www.innozen.com), is the preeminent formulator, developer and manufacturer of edible film strips that deliver drug or dietary supplement actives through buccal (between the cheek and gum) absorption as well as normal ingestion. InnoZen's proprietary edible film strip delivery technology is superior to any other competitive, edible film strips currently available on the market. InnoZen has five patents pending and has developed numerous trade secrets which it incorporates in the development and manufacturing process of its edible film strip products.

About SMI Manufacturing

SMI Manufacturing (www.smimfg.net ) is one of the United States' premier GMP certified integrated manufacturer of nutritional supplements since 1996, providing formulation, packaging and logistics capabilities all under "one roof." SMI is expanding its manufacturing capabilit
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SOURCE HealthSport, Inc.
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