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The Board of Directors of Innovation Holdings Inc. (OTC: IVHN) announced that the Company has signed a Letter of Intent with Pharmaspritz Corporation of Delaware to purchase all of its assets and those of its Canadian subsidiary in return for shares of Innovation Holdings Inc.
Pharmaspritz Corporation has developed SlimSpritz(TM), a patented and revolutionary 100% herbal weight loss aid that utilizes a unique and effective delivery system. SlimSpritz(TM) features a Metered Dose Aerosol Pump (MDAP) that instantly delivers effective and recognized herbal appetite suppressants and active thermogenic agents. SlimSpritz(TM) incorporates a breath freshener, appetite suppressants and thermogenic agents to stimulate the metabolism of the body for those on weight loss programs.
Steven Burke, President of Pharmaspritz, developed the concept of incorporating the thermogenic appetite suppressants for weight loss into an aerosol spray. Mr. Burke has over 30 years experience in the consumer product marketing business, in retail distribution and in direct marketing. In addition, Mr. Burke introduced the first powdered meal replacement for weight loss, NutriSlim, to the Canadian marketplace in 1980.
The market for weight-loss products in North America is estimated to be in excess of $36 billion with over 110 million dieters using a myriad of diet products and services every year. Unlike virtually any other weight loss product, the SlimSpritz spray system quickly delivers proven herbal weight loss ingredients directly into the bloodstream through buccal absorption. These ingredients safely reduce the users hunger and cravings while increasing the number of calories burned.
The Company will rely on Mr. Burke and his management team's expertise to deliver SlimSpritz to the marketplace; initially through direct response marketing on the web, then migrating to print publications and infomercials. The comprehensive business plan calls for a national retail (in store) roll out by the end of the first year of operation.
Pharmaspritz Corporation's business objective is "to convert selected non-prescription aids & remedies, nutritional supplements and vitamins to the 'Spritz' technology; utilizing new or existing patents on a licensed or joint venture basis." A sleep aid called "Spritzzzz" and a pain remedy called "SpritzRelief" are currently under development and will be brought to market after the launch of SlimSpritz.
This release may include projections of future results and "forward-looking statements" as that term is defined in Section 27A of the Securities Act of 1933 as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934 as amended (the "Exchange Act"). All statements that are included in this release, other than statements of historical fact, are forward-looking statements. Although management believes that the expectations reflected in these forward-looking statements are reasonable; it can give no assurances that such expectations will prove to have been correct. Important factors that could cause actual results to differ materially from the expectations disclosed in this release, including, without limitation, in conjunction with those forward-looking statements contained in this release.
For more information please contact: Rhonda Windsor roni@rogers.com">roni@rogers.com 905-898-0918
SOURCE: Innovation Holdings Inc.
