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HealthSport Signs Letter of Intent to Acquire "Excellent" Rated cGMP Certified Nutraceutical Manufacturing Plant
Date:3/30/2011

OXNARD, Calif., March 30, 2011 /PRNewswire/ -- HealthSport, Inc. (OTC Bulletin Board: HSPO), a fully integrated formulator, developer and manufacturer of dissolvable bi-layer oral thin film products that deliver pharmaceutical and OTC drug active ingredients through buccal absorption, announced today it has signed a Letter of Intent (LOI) to acquire certain operating assets of SMI Manufacturing from RT Holdings, LLC.  HealthSport's acquisition includes the lease of the 50,000 square foot building, accounts receivable, inventory, machinery and equipment and SMI's certifications and other intangible assets of SMI Manufacturing's cGMP plant located in Tempe, Arizona.

The SMI Manufacturing plant, a cGMP certified manufacturing facility based in Tempe, Arizona that has the capabilities to formulate, design, produce, package, market and distribute organic and health related nutraceuticals and functional food products has been operating since 1996.  cGMP (current Good Manufacturing Practices) is a term recognized worldwide for the control and management of manufacturing and quality control testing of foods, pharmaceutical products, and medical devices under regulations promulgated by the US Food and Drug Administration ("FDA").  The SMI facility consistently receives an Excellent rating, FDA's highest rating, as a cGMP manufacturing facility.

"HealthSport will now be able to take full advantage of strategic relationships we have worked on for several  months by not only providing products based on our state of the art bi-layer strip technology, but also addressing our customer's needs in the $90 billion Natural Products Market by having the capacity to manufacture just about any vitamin, mineral or supplement, including products certified as organic," said Kevin Taheri, CEO of HealthSport, Inc.

Mr. Taheri continued: "We are now squarely focused on c
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SOURCE HealthSport, Inc.
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