Sundance Strategies Inc (SUND)

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06/10/13...Sundance Strategies, Inc. Agrees to Purchase $400 Million in Face-Value of Net Insurance Benefits,
http://ih.advfn.com/p.php?pid=nmona&article=57918456&symbol=SUND

PROVO, Utah, June 10, 2013 /PRNewswire/ -- Sundance Strategies Inc. (OTC BB: SUND) an innovative company engaged in acquiring life insurance settlements and related insurance contracts, policies and obligations, today announced that it has formalized an agreement to purchase $400 million in face value life insurance policies, to which it applies proprietary strategies to create a unique, secure and liquid asset.

The Company initially purchased $129 million face value of policies on March 18, 2013.
On June 6, 2013, Sundance Strategies placed funds in escrow for the purchase of its second phase by initiating the acquisition of approximately $400 million face value of policies. Using Sundance's proprietary strategies, these policies will provide Sundance with predictable future cash flows and liquidity.

As a result of the acquisition and structuring of this $400 million of Net Insurance Benefits, Sundance will have a portfolio totaling approximately $529 million in policy benefits at face value.

Randy Pearson, President of Sundance Strategies, commented, "We are quickly executing on our strategy to assemble a large portfolio of the highest-quality policies in the industry at favorable prices. These policies are structured using our unique and innovative strategy, which provides predictable cash flows to Sundance regardless of when the policies mature. Over the next 120 days, the Company expects that the policies, which are part of this $400 million transaction, will be processed to fit into the Company's proprietary structure. As a result, Sundance will receive the net insurance benefit, or NIB, without taking on the normal risk associated with the unknown maturity date of a policy, thereby providing predictable cash flows to the Company. It is our plan to consistently add significant amounts of face value to our portfolio, as we execute and prove our strategy."

Contacts:
Cameron Donahue, Hayden IR
[phone]
[e-mail]

SOURCE Sundance Strategies, Inc.