SOURCE: Health Enhancement Products, Inc.

August 07, 2008 08:30 ET

Health Enhancement Products, Inc. Signs Distribution Agreement With LAVA Corporation of Seoul Korea

SCOTTSDALE, AZ--(Marketwire - August 7, 2008) - Health Enhancement Products, Inc. (OTCBB: HEPI) announced today that they have signed a Memorandum of Understanding (MOU) with Lava Corporation of Seoul Korea for distribution rights for ProAlgaZyme, HEPI's primary product. Lava had been in negotiations with HEPI a few years ago but could not proceed as HEPI did not have the clinical results for ProAlgaZyme necessary to get cleared by the Korean FDA.

After reviewing the results and peer review from HEPI's successful clinical trials in Cameroon, that have been published at (www.lipidworld.com), Lava Corp. is now confident that they can get clearance for PAZ to be distributed in Korea. The cost of filing for FDA clearance in Korea is estimated to be approximately $50,000, which will be paid by Lava Corporation. Korea and the Asian countries are one of the largest markets for all natural products such as ProAlgaZyme.

About Lava Corporation

Lava Corporation, established in 1969 by Moon K. Kim, imports and distributes a variety of products to Korea and Asia, including O2 Spa Bar Liquid Oxygen from the U.S. and NordWater from Finland, as well as many other products.

About Health Enhancement Products, Inc.

Health Enhancement Products, Inc. is a nutraceutical company engaged in the development of a Dietary Supplement product using only pure, all-natural ingredients. The company's sole product is ProAlgaZyme, a liquid product produced from algae grown in 100% distilled water. The liquid in which the algae are grown is drawn off, filtered, tested and bottled as ProAlgaZyme. HEPI Pharmaceuticals, Inc. is exploring the development of the potential pharmaceutical applications of ProAlgaZyme.

Except for any historical information, the matters discussed in this press release contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements involve risks and uncertainties. A number of factors could cause actual results to differ from those indicated in the forward-looking statements, including the timing of completion of a trial, actual future clinical trial results being different than the results the company has obtained to date, our inability to obtain regulatory approvals necessary to market and sell PAZ as a pharmaceutical, and the company's ability to secure funding, including for the subsidiary's pharmaceutical development of PAZ. Such statements are subject to a number of assumptions, risks and uncertainties. Readers are cautioned that such statements are not guarantees of future performance and that actual results or developments may differ materially from those set forth in the forward-looking statements. The company undertakes no obligation to publicly update or revise forward-looking statements, whether as a result of new information or otherwise.

For more information, please visit www.heponline.com.

Contact Information

  • Contact information:
    John Gorman
    Email Contact: Email Contact
    480-385-3800