SOURCE: Regal Life Concepts, Inc.

March 04, 2010 16:51 ET

Regal Life Concepts Inc. Provides 2010 Operational Overview

PHOENIX, AZ--(Marketwire - March 4, 2010) -  Regal Life Concepts, Inc. (OTCBB: RGLC) would like to provide an operational overview for 2010.

In light of a challenging economic environment and its impact on the financing of companies in the microcap sector in North America, the Company will continue to be China-focused but intends to limit its capital investment in AWA Wine to funds already advanced and consider new business acquisitions (on a share swap basis) in its efforts in 2010 to create value for its shareholders. Chief among the industry sectors under consideration are the technology, automotive and pharmaceutical industries.

The Company believes that business opportunities in these Chinese sectors will prove attractive given Chinese government funding and backing of these key industries and impressive individual growth rates in such sectors. To better reflect the Company's current and proposed intent to acquire additional companies in China in these key sectors, the Company has recently filed a preliminary information statement regarding a proposed name change to Regal Group, Inc. In addition, the Company has recently added new management to bolster in-house efforts and resources to execute its business plan.

Effective February 5, 2010, we have appointed Mr. Parrish Medley as a director and Principal Financial Officer of the Company in place of Mr. Xiao Wen Quan, who will now serve solely as a Board Advisor to the Company and continue his oversight of the Company's investment in the Chinese wine industry.

Mr. Medley has over twenty years' experience in the securities and investment banking industry with service as a manager and financial consultant for numerous registered broker/dealers, including Bear Stearns & Co. Since 1997, Mr. Medley has worked as a venture capitalist and a private money manager. From 1990 to 1997, Mr. Medley founded and grew Palm Beach Tan, Inc., into a multi-chain business before selling it to a group of private investors. Palm Beach Tan is currently one of the most successful companies in that industry with over 100 corporate and franchise locations nationwide. In 2004, Parrish Medley, in partnership with Carlo Mondavi, grandson to the modern American icon Robert Mondavi, founded DAVI SKIN with the vision of creating a luxury skincare line using the proven protective antioxidant health benefits found in grape seed oil and fermented grape extracts. Davi Skin is currently the exclusive supplier of in-room amenity products for Peninsula Hotels worldwide. Mr. Medley acted as President and CEO of DAVI SKIN until November 2006. Mr. Medley graduated from Southern Methodist University in 1986 with a Bachelor's degree in Business Administration.

Commented Eric Wildstein, President of Regal Life: "I am very pleased to have Parrish join our Board of Directors. Starting with the recent addition of Mr. Medley, we intend to build a world class board with invaluable contacts and experience to help insure that we realize our vision of acquiring intriguing Chinese enterprises at low valuations or multiples and taking them to the next stage of growth."

About Regal Life Concepts, Inc.
Regal Life Concepts, Inc. is a publicly traded company with headquarter in Phoenix, Arizona. Regal Life Concepts, Inc. is strategically positioning itself in key industry sectors in China, including the wine industry where Regal has made a strategic investment in AWA Wine, and is investigating further opportunities in Asia. Regal Life Concepts, Inc. trades on the NASDAQ OTC BB under the ticker symbol: RGLC.

On behalf of the Board

Eric Wildstein, President

Forward-Looking Statements
Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Words such as "expects," "intends," "plans," "may," "could," "should," "anticipates," "likely," "believes" and words of similar import also identify forward-looking statements. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined and assumptions of management, including, but not limited to, the Company's belief that Regal Life Concepts, Inc. can identify and successfully negotiate business prospects in Asia, and that the Company can successfully operate such prospects. Actual results may differ materially from those currently anticipated due to a number of factors beyond the reasonable control of the Company. Additional information on risks and other factors that may affect the business and financial results of the Company can be found in filings of the Company with the U.S. Securities and Exchange Commission.

Contact Information

  • Contacts:
    Regal Life Concepts, Inc.
    Investor Relations
    Toll Free: 1-866-587-9124