HealthSport, Inc. Subsidiary Enters Strategic Manufacturing Agreement
August 19 2009 - 9:30AM
PR Newswire (US)
InnoZen, Inc. to Begin Manufacturing Proprietary Edible Film Strip
Products at SMI Manufacturing's cGMP Facility WOODLAND HILLS,
Calif., Aug. 19 /PRNewswire-FirstCall/ -- InnoZen, Inc., a wholly
owned subsidiary of HealthSport, Inc. (OTC:HSPO) (BULLETIN BOARD:
HSPO) announced today that it has entered into a manufacturing
agreement with Supplemental Manufacturing and Ingredients, LLC
("SMI"), a cGMP certified manufacturer based in Tempe, Arizona. As
part of the Agreement, SMI has committed to purchasing $1,000,000
worth of HealthSport common stock. The Agreement, dated August 13,
2009, provides that SMI (http://www.smimfg.net/) will produce all
edible thin film products for InnoZen for both domestic and
international sales. SMI has committed to increase capacity to
accommodate InnoZen's projected sales. "We believe that this
partnership with SMI will accelerate our sales and marketing
efforts allowing us to pursue larger clients, and align us with one
of the leaders in the nutraceutical, dietary supplement and
pharmaceutical manufacturing industries. This is yet another
example of HealthSport's commitment to work with leaders in all
fields," said Jeffrey Wattenberg, President of HealthSport. "SMI
has the manufacturing facility and all of the certifications needed
to allow us to take advantage of the exploding market for our
bi-layer and newly developed proprietary encapsulation film strip
technologies." cGMP is a term recognized worldwide for the control
and management of manufacturing and quality control testing of
foods, pharmaceutical products, and medical devices under
regulations promulgated by the U.S. Food and Drug Administration
("FDA"). SMI's "Excellent" rating is the highest possible rating
for cGMP facilities. Kevin Taheri, CEO of SMI stated that "SMI is
committed to working with HealthSport to not only integrate the
existing technologies into SMI's operations, but to also work with
Jeff and his team to advance the technology beyond dietary
supplement and nutraceutical products into over-the-counter drugs
and pharmaceuticals. This is one of the most exciting technologies
existing today for delivering both nutraceutical and pharmaceutical
actives." About HealthSport, Inc. HealthSport, Inc.
(http://www.healthsportinc.com/) is a fully integrated developer,
manufacturer and marketer of unique and proprietary branded and
private label edible film strip nutritional supplement and
over-the-counter drug products. HealthSport's wholly-owned
subsidiary, InnoZen, Inc. (http://www.innozen.com/), is the
preeminent formulator, developer and manufacturer of edible film
strips that deliver drug or dietary supplement actives through
buccal (between the cheek and gum) absorption as well as normal
ingestion. InnoZen's proprietary edible film strip delivery
technology is superior to any other competitive, edible film strips
currently available on the market. InnoZen has five patents pending
and has developed numerous trade secrets which it incorporates in
the development and manufacturing process of its edible film strip
products. Forward-Looking Statements This release contains
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. All forward-looking
statements are inherently uncertain as they are based on current
expectations and assumptions concerning future events or future
performance of the company. Readers are cautioned not to place
undue reliance on these forward-looking statements, which are only
predictions and speak only as of the date hereof. In evaluating
such statements, prospective investors should review carefully
various risks and uncertainties identified in this release and
matters set in the company's SEC filings. These risks and
uncertainties could cause the Company's actual results to differ
materially from those indicated in the forward-looking statements.
DATASOURCE: HealthSport, Inc. CONTACT: Mike Sclafani of
HealthSport, Inc., +1-303-903-2090 Web Site:
http://www.healthsportinc.com/ http://www.innozen.com/
http://www.smimfg.net/
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