Direct Pet Health Finalizes Agreement With First Pet Life to Acquire Assets
Apr 4, 2007 7:01:00 AM
Dallas, April 4 /PRNewswire/ -- Direct Pet Health Holdings Inc (OTC: DPHG) announced today the finalization and agreement with First Pet life to acquire certain assets. The acquisition of Assets represents the first realization of a new strategic agenda. "By acquiring these assets DPHG has accelerated its progress in becoming a pet industry leader," stated Direct Pet Health President and CEO, Michael F. Scaccia.
Through this acquisition Direct Pet health has acquired the insurance contract as well as the back end support of a trusted pet insurance company. In doing so this enables DPHG to start writing policies and generating revenue instantly. DPHG has also acquired an E-commerce site which will enable them to add on products through exclusive agreements, joint ventures and cross promoting. All of which will be generating instant revenue. Also acquired were such assets: Website, License Agreements, Domain names, Trademarks, Copyrights,etc.. In consideration for purchase of assets First Pet Life agreed to sum payment of 408,703 shares of Direct Pet Health Holdings Inc. In addition the earnings growth the acquisition represents the first successful acquisition by Direct Pet Health.
The acquisition is an important step in moving the business forward. This is vital to strengthen our credibility and build support with partners as well as current shareholders.
Through acquisitions and developing existing assets, DPHG intends to build a well capitalized Company. We continue to look for ways to accelerate progress by qualifying additional select acquisitions with potential to produce cash flow and positioning the company for profitable operations.
"I believe the next several months will be an exciting time in the pet industry as well as for Direct Pet Health as we keep building our asset base heading toward a very promising year," said Scaccia.
This press release includes forward looking statements that involve risk and uncertainties, including but not limited to, product delivery, the management growth, market place acceptance of certain products and other risks. These forward looking statements are made in reliance on the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that all forward-looking statements involve risk and uncertainties.
Contact:
Direct Pet Health Holdings Inc.
CEO-Michael F. Scaccia
www.directpethealth.com
972-273-0500
SOURCE Direct Pet Health Holdings Inc.
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Michael F. Scaccia
CEO
Direct Pet Health Holdings Inc.
+1-972-273-0500
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