SOURCE: Redux Holdings, Inc.

November 13, 2007 07:05 ET

Naturade Receives Funding and Emerges From Chapter 11 Bankruptcy

ANAHEIM, CA--(Marketwire - November 13, 2007) - Naturade, Inc. (PINKSHEETS: NRDCQ) announced today that its controlling shareholder, Redux Holdings, Inc. (PINKSHEETS: RDXH), has completed an infusion of new capital into the Company in the amount of $1,200,000, finalizing the plan of reorganization under Chapter 11 as approved by the United States Bankruptcy Court allowing Naturade to emerge from bankruptcy.

In addition to a comprehensive debt restructuring, the reorganization plan features an equity provision rarely observed in companies emerging from bankruptcy. Of particular note, the plan allows for Naturade to retain its status as a public company through the retention of an equity interest by the existing public shareholders and the Bankruptcy Code allows for the registration of all of the equity shares of Naturade.

"Although it has taken a bit longer than originally anticipated, today's news reaffirms that our efforts have been for a good cause and that the reorganization process remains a valid method to repair companies that are worth saving," stated Adam Michelin, Naturade's Chairman. "Naturade is now clear of the bankruptcy process and has the financial resources to meet the demands of its customers. Equally important, our employees can refocus their efforts on rebuilding and growing a premium brand that has helped develop the 'health food' industry before there was one."

The money was privately raised with help from The Ventana Group based in Menlo Park and Lawrence Financial Group based in Los Angeles.

About Naturade, Inc.

Founded in 1926, Naturade (www.naturade.com) is a leading marketer of scientifically supported natural products formulated to improve the health and well-being of consumers. Naturade's products can be found in health food stores and natural foods supermarkets as well as supermarkets, mass merchandisers, club stores and drug stores.

About Redux Holdings, Inc.

Redux Holdings (www.reduxholdings.com) acquires the assets of companies and isolates, recombines and manages those assets to increase their value and develop profitable strategic options. The Company is distinguished by the extensive experience of its personnel in identifying, analyzing and stabilizing these business opportunities and effecting efficient turnaround and asset monetization.

Investor information, including an investor fact sheet, is available for download at www.firstcapitalinvestors.com/rdxh.html.

"SAFE HARBOR"

This press release contains forward-looking statements within the definition of Section 27A of the Securities Act of 1933, as amended and such section 21E of the Securities Act of 1934, amended. These forward-looking statements should not be used to make an investment decision. The words 'estimate,' 'possible' and 'seeking' and similar expressions identify forward-looking statements, which speak only as to the date the statement was made. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events, or otherwise. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted, or quantified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. The risks and uncertainties to which forward-looking statements are subject include, but are not limited to, the effect of government regulation, competition and other material risks.

Contact Information

  • Contacts:

    Investor Relations
    First Capital Investors, Inc.
    Email Contact
    (321) 221-2910