LAS ANGELES, December 2 Fountain Healthy AgingInc. (OTCBB: FHAI) announced today that it would initiate a programme ofregular updates to shareholders, keeping them informed of the significantprogress which Fountain is making in the fulfilment of its business plan, aswell as to provide shareholders with regular updates on the progress ofproceedings against Dunn Capital Partners and others.
Fountain reports that it continues to work closely with Natural Planet inintegrating their businesses and products. Formal closing of the acquisitionof Natural Planet has been postponed pending the fulfilment of the finalcondition to closing, namely the finalization of audited financial statementsfor Natural Planet. These statements are in preparation and are expected tobe completed shortly. The acquisition of Natural Planet is being structuredas an all share deal and no cash consideration will be paid.
Fountain already has an exclusive worldwide license to distribute thenine Natural Planet's products that have been specifically targeted at theanti-aging market. Eight are currently being marketed under the NaturalPlanet brand, but are in the process of being rebranded as Fountain products.The ninth, Vitalife, has already been rebranded. All of the products to whichFountain already has an exclusive right can be viewed at the web pagehttp://www.naturalplanetusa.com/ha.html The balance of the Natural Planetproducts, comprising over 50 additional products, will become available forFountain to market after closing of the acquisition, and some of theseproducts will be rebranded as Fountain products. These products can be viewedat the web page http://www.naturalplanetusa.com/nutraceuticals.html
Fountain announces that it has recently entered into a preliminaryagreement with a distributor of its products in Japan. The Japanesedistributor is in the process of submitting the required application for theapproval of Fountain's anti-aging products in Japan, after which full scaledistribution would commence immediately. In addition, Fountain announced thatit is in active discussions with a number of distributors in the US as wellas with 2 of Natural Planet's existing distributors in the Far East outsideJapan, 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 ofthese distribution contracts in time for distribution to commence in thefirst quarter of 2010.
Fountain CEO, Paul Hunston, commented that he was "delighted with theprogress which had been made over the past few weeks in progressingFountain's ambitious business plans, which is a credit to the Fountain andNatural Planet management teams. We remain on course to achieve our targets,and I am looking forward to building a solid growing company with substantialrevenues through the course of the coming year".
About Fountain Healthy Aging
Fountain Healthy Aging is a company specifically focussed in the antiaging industry, which is one of the quickest growing industry sectorsworldwide. 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 dynamicwithin the overall health and wellness revolution. We believe that we areuniquely positioned to capitalize on this rapidly growing trend first withour unique flagship product, rapidly followed into the market by our otherproducts which have been specifically developed for this market. FountainHealthy Aging's main focus is on the specialty, premium product category,which is a growing segment of the market that provides gross marginssignificantly higher that the lower-priced, mainstream health products market.
The statements in the press release that relate to the company'sexpectations with regard to the future impact on the company's results fromnew products or actions in development are forward-looking statements, withinthe meaning of the Private Securities Litigation Reform Act of 1995. Thestatements in this document may also contain "forward-looking statements"within the meaning of Section 27A of the Securities Act of 1933 and Section21E of the Securities Exchange Act of 1934. Since this information maycontain statements that involve risk and uncertainties and are subject tochange at any time, the company's actual results may differ materially fromexpected results.
SOURCE Fountain Healthy Aging Inc