Sunridge Asset Sale
April 16 2012 - 8:00AM
Marketwired
Sunridge International (PINKSHEETS: SNDZ) announced today that it
has entered into an asset sale agreement with Westhouse Medical
Services, PLC of Dartford, Kent, United Kingdom. Sunridge will
deliver the patents, manufacturing rights, distribution agreements,
intellectual property, etc. for Pneumatic Trabeculoplasty (PNT),
the company-owned treatment and equipment used to treat glaucoma
and ocular hypertension. Sunridge will receive 2,000,000 in cash
and bonds, and will retain exclusive rights to Canada in this
transaction.
"We're going to use this money to retire debt, bring our filings
current with the SEC and execute our business plan to set up
glaucoma treatment centers across Canada," states G. Richard Smith,
CEO of Sunridge. "This is a good move for us, as we should be able
to open our first clinic, and start to focus on bringing Sunridge
to profitability."
The closing is expected to take place before the end of this
month. Additional updates will be forthcoming.
Forward Looking Statements
This press release and the statements of representatives of
Sunridge International, Inc. (the "Company") related thereto
contain, or may contain, among other things, "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995. All statements, other than statements of
historical fact included herein are "forward-looking statements,"
including any other statements of non-historical information. These
forward-looking statements are subject to significant known and
unknown risks and uncertainties and are often identified by the use
of forward-looking terminology such as "projects," "may," "could,"
"would," "should," "believes," "expects," "anticipates,"
"estimates," "intends," "plans," "ultimately" or similar
expressions. All forward-looking statements involve material
assumptions, risks and uncertainties, and the expectations
contained in such statements may prove to be incorrect. Investors
should not place undue reliance on these forward-looking
statements, which speak only as of the date of this press release.
The Company's actual results could differ materially from those
anticipated in these forward-looking statements as a result of a
variety of factors, including factors and risks discussed in the
periodic reports that the Company files with the Securities and
Exchange Commission (http://www.sec.gov). All forward-looking
statements attributable to the Company or persons acting on its
behalf are expressly qualified in their entirety by these factors.
The Company undertakes no duty to update these forward-looking
statements except as required by law.
CONTACT: Jeff Smith Sunridge International T: +1-480-837-6165
e-mail: Email Contact
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