SOURCE: Kushi Resources, Inc.

January 06, 2010 15:11 ET

Kushi Resources, Inc. Announces Completion of Merger and Name Change

COCOA, FL--(Marketwire - January 6, 2010) - Kushi Resources, Inc. (OTCBB: KUSI) announced today that it has completed the previously announced merger with TheraBiogen, Inc., as a result of which Kushi Resources, Inc., the surviving entity in the merger (the "Company"), has changed its name to TheraBiogen, Inc. A request for a new symbol for the Company to reflect its new corporate name and direction, has been filed with FINRA. As part of the merger transaction, the Company completed a 2.6 for 1 forward split of its common stock, increased its authorized capital to 150 million shares of $0.0001 par value common stock, and issued 18,791,000 common shares to the shareholders of the former TheraBiogen, Inc. There are now 32,389,000 shares of common stock of the Company issued and outstanding as a result of the forward split and the merger. The merged Company will maintain its corporate offices at the former TheraBiogen, Inc., offices in Central Florida and will no longer maintain any offices in New York, the former offices of the Company.

The former TheraBiogen, Inc. was a reporting company under Section 12(g) of the Securities and Exchange Act of 1934, although its shares were not listed for trading on any exchange. In July 2008, that company entered into a licensing agreement with Nasal Therapeutics, Inc. of Long Beach, California, for the exclusive license rights in North America to develop, market, distribute and sell four homeopathic nasal spray products known as THERAMAX™ Cold Relief, THERAMAX™ Flu Relief, THERAMAX™ Allergy Relief and THERAMAX™ Migraine Relief. As the result of the license and the company's further development activities, the former TheraBiogen, Inc. claimed trademark rights to the THERAMAX™ name and all related uses. On July 31, 2009, that company renegotiated the terms of the license agreement, extending the territory to the entire world and the term to 25 years from July 31, 2009, and also received a transfer of all trademark rights to the THERAMAX™ name. The THERAMAX™ products were developed by the original inventor of the Zicam® line of products but contain no zinc.

This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21 E of the Securities Exchange Act of 1934, as amended. Investors are cautioned that these forward-looking statements involve uncertainties and risks that could cause actual performance and results of operations to differ materially from those anticipated. These risks and uncertainties include issues related to the ability to: obtain sufficient funding to continue operations, maintain adequate cash flow, profitably exploit new ventures, as well as other factors set forth in the Company's most recently filed Form 10-K and Form 10-Q reports. The forward-looking statements contained herein represent the Company's judgment as of the date of this release and it cautions readers not to place undue reliance on such statements. TheraBiogen, Inc. assumes no obligation to update the statements contained in this release except as required by applicable securities disclosure rules.

Contact Information

  • Contact information:
    Kelly T. Hickel
    TheraBiogen, Inc.
    Telephone: 321-452-9091