SOURCE: Remedent, Inc.

April 01, 2014 11:02 ET

Remedent Announces Its Transaction in Selling a Portion of Its Investment in GlamSmile Asia Ltd

GENT, BELGIUM--(Marketwired - Apr 1, 2014) - Remedent, Inc. (OTCBB: REMI), an international company specializing in research, development, and manufacturing of oral care and cosmetic dentistry products, announces that it has completed a transaction in selling 7.85 % of its investment in GlamSmile Asia Ltd for the amount of $ 3,000,000 to GlamSmile Dental Technology Ltd of which $ 1,850,000 have been received during the quarter ending March 31, 2014.

Proceeds of this transaction will be used to pay back the existing Bank Credit Line facility and to reduce and retire portions of its long term debt.

This transaction will help Remedent in achieving its goal to create a healthy Balance Sheet. Details of this transaction will be made available during our next video presentation.

About Remedent

Remedent, Inc. specializes in the research, development, manufacturing and marketing of oral care and cosmetic dentistry products. The company serves professional dental industry with breakthrough technology for dental veneers. These products are supported by a line of professional veneer whitening and teeth sensitivity solutions. Headquartered in Belgium, Remedent distributes its products to more than 28 countries worldwide. For more information, go to www.remedent.com.

Forward-Looking Statements

Statements in this press release that are "forward-looking statements" are based on current expectations and assumptions that are subject to risks and uncertainties. Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause Remedent's actual operating results to be materially different from any historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements that explicitly describe these risks and uncertainties, readers are urged to consider statements that contain terms such as "believes," "belief," "expects," "expect," "intends," "intend," "anticipate," "anticipates," "plans," "plan," "projects," "project," to be uncertain and forward-looking. Actual results could differ materially because of factors such as Remedent's ability to achieve the synergies and value creation contemplated by the proposed transaction. For further information regarding risks and uncertainties associated with Remedent's business, please refer to the risk factors described in Remedent's filings with the Securities and Exchange Commission, including, but not limited to, its annual report on Form 10-K and quarterly reports on Form 10-Q. We undertake no duty to revise or update any forward-looking statements to reflect events or circumstances after the date of this press release.

Contact Information

  • CONTACT INFORMATION
    Mr. Luc Maes
    Marketing Manager
    Remedent - Zuiderlaan 1-3 box 8, 9000 Gent - Belgium

    T: +32 (0)9-2415880
    E: info@remedent.com
    W: www.remedent.com