SOURCE: NuGene International, Inc.

June 10, 2015 00:41 ET

NuGene International, Inc. Issues Statement About Promotional Activity Surrounding its Common Stock

IRVINE, CA--(Marketwired - Jun 10, 2015) - NuGene International, Inc. ("NuGene") (OTCQB: NUGN), a developer, manufacturer and marketer of advanced skin and hair care lines utilizing adipose derived human stem cells and stem cell media, announced today that it has been requested by the OTC Markets Group to comment on recent trading and promotional activity concerning NUGN common stock.

On June 8, 2015, OTC Markets informed the Company that it has become aware of certain promotional activities concerning the Company's stock. Included among the promotional activities was a mailer authored by MicroCap Marketplace promoting the Company and encouraging investors to purchase NUGN shares. The mailer's disclaimer also stated that a non-management affiliated third party shareholder of the Company created and distributed this "advertisement." This promotional activity coincided with higher than average trading volume and fluctuations in NUGN stock price. We are unaware of the full nature and content of this promotional activity, who else may be responsible and the extent of its dissemination.

Neither the Company, nor its management, directors, nor other controlling shareholders are to our knowledge associated with any promotional mailers which tout the Company or which encourage investors to purchase NUGN shares. To our knowledge none of our management or directors (two of whom are our principal or controlling shareholders) sold or purchased NUGN securities within the past 30 days.

"For the record, the Company has no IR/PR program underway and is not affiliated with the promotional materials' author or its affiliated entities or persons. Recent press releases have reported on and provided disclosure of legitimate and ongoing corporate activities only, and are not part of any promotional activities or campaign," stated Ali Kharazmi, CEO of NuGene International, Inc. The business of the Company and the industries within which NUGN operates are subject to numerous and significant risks and as a result, NuGene International, Inc. encourages those interested in the Company to rely solely on information included in official Company press releases, website content, and its filings and disclosures made with the United States Securities and Exchange Commission.

Forward-Looking Statements

This release contains forward-looking statements. Actual results may differ from those projected due to a number of risks and uncertainties, including, but not limited to the possibility that some or all of the matters and transactions considered by NuGene International may not proceed as contemplated, and by all other matters and assumptions specified in NuGene's filings with the Securities and Exchange Commission, especially those risks and other matters described under "Risk Factors" within NuGene's Form 10-Q filed with the Commission on May 15, 2015. These statements are made based upon current expectations that are subject to risk and uncertainty. NuGene does not undertake to update forward-looking statements in this news release to reflect actual results, changes in assumptions or changes in other factors affecting such forward-looking information.

Contact Information

  • Investor/Media Relations:
    Chris Rosgen
    Capital Market Relations