SOURCE: Skinny Nutritional Corp.

February 07, 2007 10:00 ET

Skinny Nutritional Corp. Announces Conversion of Debentures and Reduction in Debt

BALA CYNWYD, PA -- (MARKET WIRE) -- February 7, 2007 -- Skinny Nutritional Corp. (OTCBB: SKNY) announced today that as of January 31, 2007, holders of an aggregate principal amount of $2,075,000 of convertible debentures have notified the Company of their acceptance of its previously announced offer to immediately convert their outstanding convertible debentures into restricted shares of common stock only, at a reduced conversion rate of $0.10. This amount represents approximately 83% of the outstanding $2,515,000 principal amount of convertible debentures. The Company will issue these holders an aggregate of 20,750,000 shares of common stock.

"We are pleased with the response of the debenture holders to our conversion offer," said Donald J. McDonald, the Chief Executive Officer of the Company. "With the election by this percentage of holders to immediately convert their debentures, we will be able to substantially reduce our current debt obligations and continue to execute on our business plan," continued Mr. McDonald.

The convertible debentures which are being converted were scheduled to mature at various dates between December 2006 and October 2007 and were originally convertible at the rate of $0.40 into an aggregate of 6,287,500 shares of common stock and 6,287,500 common stock purchase warrants.

About Skinny Nutritional Corp.: Skinny Nutritional Corp. ( is a national and international marketing and distribution company that identifies emerging consumer product trends in the health and wellness industry. Skinny Nutritional Corp. is the exclusive worldwide distributor of Skinny Water®, Skinny Meals™, Skinny Caps™, Skinny Weight Loss Systems™ and other Skinny branded products.

Forward-Looking Statements

This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance and underlying assumptions and other statements, which are other than statements of historical facts. When used in this release, the words "believe," "anticipate," "think," "intend," "plan," "will be, "expect," and similar expressions identify such forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, risks set forth in documents filed by the Company from time to time with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by, or on behalf of, the Company, are expressly qualified by these cautionary statements and any other cautionary statements which may accompany the forward-looking statements. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.

Contact Information

  • For more information:

    Donald J. McDonald
    Email Contact
    1-877-522-2103, ext 704
    3 Bala Plaza East, Suite 117
    Bala Cynwyd, Pa 19004