SOURCE: Redux Holdings, Inc.; Naturade, Inc.

March 24, 2008 13:51 ET

Naturade Enters Memorandum of Understanding to Acquire Assets and Subsidiaries of Redux Holdings

ANAHEIM, CA--(Marketwire - March 24, 2008) - Naturade, Inc. (OTCBB: NRDCQ) announced today that in the final component of its 18-month restructuring it has entered into a Memorandum of Understanding via which Naturade will acquire all of the subsidiary companies and assets of Redux Holdings, Inc. (PINKSHEETS: RDXH). Redux, who currently owns 92.1% of the outstanding shares in Naturade, approved the transaction.

Mr. Adam Michelin, Naturade's CEO, is scheduled to be featured in an audio interview on CEO Cast (www.ceocast.com) this afternoon where he will provide further details on the transaction.

Mr. Michelin commented, "We recently announced that Naturade approved a 1 for 6 reverse stock split, which better aligned the Company's share structure to its balance sheet. Today, as the final piece of the corporate restructuring process of Naturade, we are announcing that we are selling the assets of Redux Holdings, a non-reporting company whose shares trade on the Pink Sheets, into the OTCBB trading and fully reporting corporate structure of Naturade. The parties are currently preparing a definitive Asset Purchase Agreement and related documents for the transaction, which I expect to close not later than April 30, 2008."

All analysts, media, institutional and investor questions should be directed to First Capital Investors at 321-221-2910. Additional investor information, including an investor fact sheet, is available for download at www.firstcapitalinvestors.com/rdxh.html.

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 over 34,000 retail locations including: 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.

"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