Press Release Source: Redux Holdings, Inc.; Naturade, Inc.
Naturade Enters Memorandum of Understanding to Acquire Assets and Subsidiaries of Redux Holdings
Monday March 24, 1:51 pm ET
ANAHEIM, CA--(MARKET WIRE)--Mar 24, 2008 -- Naturade, Inc. (OTC BB:NRDCQ.OB - News) announced today that in the final component of its 18-month restructuring it has entered into a Memorandum of Understanding via which Naturade will acquire all of the subsidiary companies and assets of Redux Holdings, Inc. (Other OTC:RDXH.PK - News). Redux, who currently owns 92.1% of the outstanding shares in Naturade, approved the transaction.
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Mr. Adam Michelin, Naturade's CEO, is scheduled to be featured in an audio interview on CEO Cast (www.ceocast.com) this afternoon where he will provide further details on the transaction.
Mr. Michelin commented, "We recently announced that Naturade approved a 1 for 6 reverse stock split, which better aligned the Company's share structure to its balance sheet. Today, as the final piece of the corporate restructuring process of Naturade, we are announcing that we are selling the assets of Redux Holdings, a non-reporting company whose shares trade on the Pink Sheets, into the OTCBB trading and fully reporting corporate structure of Naturade. The parties are currently preparing a definitive Asset Purchase Agreement and related documents for the transaction, which I expect to close not later than April 30, 2008."
All analysts, media, institutional and investor questions should be directed to First Capital Investors at 321-221-2910. Additional investor information, including an investor fact sheet, is available for download at www.firstcapitalinvestors.com/rdxh.html.
About Naturade, Inc.
Founded in 1926, Naturade (www.naturade.com) is a leading marketer of scientifically supported natural products formulated to improve the health and well-being of consumers. Naturade's products can be found in over 34,000 retail locations including: health food stores and natural foods supermarkets, as well as supermarkets, mass merchandisers, club stores and drug stores.
About Redux Holdings, Inc.
Redux Holdings (www.reduxholdings.com) acquires the assets of companies and isolates, recombines and manages those assets to increase their value and develop profitable strategic options. The Company is distinguished by the extensive experience of its personnel in identifying, analyzing and stabilizing these business opportunities and effecting efficient turnaround and asset monetization.
