SOURCE: PetLife Pharmaceuticals, Inc.

August 07, 2014 16:15 ET

PetLife Changes Company Name, Provides Acquisition Progress Update

BEVERLY HILLS, CA--(Marketwired - Aug 7, 2014) - PetLife Pharmaceuticals, Inc. (formerly Clear TV Ventures, Inc. and formerly Eco Ventures Group, Inc.) (PINKSHEETS: EVGI), today provided an update on its progress toward closing its acquisition, through a share exchange agreement, with Beverly Hills, CA-based PetLife Corporation.

As previously reported in its news release dated May 1, Closing was conditioned upon the Company becoming current in its SEC filings and effecting a reverse split of the Company's common stock.

The Company is now current in its SEC filings, deemed fully reporting and expects to seek relisting on the OTCQB.

The Company completed a name change to PetLife Pharmaceuticals, Inc. as well as a 1-for-20 reduction in its shares in connection with its merger with and into its subsidiary, PetLife Pharmaceuticals, Inc. The corporate action was completed with the Nevada Secretary of State on June 27, 2014 and awaits FINRA approval to become effective on the Company's current public market.

Additionally, PetLife is preparing to launch a new website in mid-August.

According to the terms of the Agreement, PetLife's shareholders will receive 47 million shares of EVGI common stock, which equates to approximately 80 percent of the issued and outstanding shares of EVGI in consideration for 100 percent of PetLife capital stock. 

About PetLife Corporation
PetLife is a registered US Veterinary Pharmaceutical company, incorporated in 2012, and is a spinoff of Medolife International, Inc.

PetLife has developed and is launching a new generation of high potency veterinary cancer medications and nutraceuticals for companion pets. It is based on the same patented 'Escozine for humans' formula that has been sold by affiliate Medolife in 40 countries -- using a patented polarization technology that potentiates the main ingredients to dramatically increase their therapeutic effectiveness.

PetLife's mission is to bring its new, scientifically proven, non-toxic, potentiated bioactive nutraceuticals and prescription medication to the world of veterinary oncology -- with the ultimate goal of preventing cancer, extending the life of pets suffering from cancer while improving their quality of life. In the US alone, consumer spending on domestic companion animals is expected to reach over $58 billion in 2014 with over $13 billion being spent on over the counter medications.

Safe Harbor
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: EVGI encourages those interested in our Company to rely only on information included in our filings with the United States Securities and Exchange Commission which can be found at Statements released by Eco Ventures Group, Inc. that are not purely historical are forward-looking within the meaning of the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the company's expectations, hopes, intentions, and strategies for the future. Investors are cautioned that forward-looking statements involve risk and uncertainties that may affect the company's business prospects and performance. The company's actual results could differ materially from those in such forward-looking statements. Risk factors include but are not limited to general economic, competitive, governmental, and technological factors as discussed in the company's filings with the SEC on Forms 10-K, 10-Q, and 8-K. The company does not undertake any responsibility to update the forward-looking statements contained in this release.