SOURCE: Sunridge International

April 16, 2012 09:00 ET

Sunridge Asset Sale

FOUNTAIN HILLS, AZ--(Marketwire - Apr 16, 2012) - Sunridge International (PINKSHEETS: SNDZ) announced today that it has entered into an asset sale agreement with Westhouse Medical Services, PLC of Dartford, Kent, United Kingdom. Sunridge will deliver the patents, manufacturing rights, distribution agreements, intellectual property, etc. for Pneumatic Trabeculoplasty (PNT), the company-owned treatment and equipment used to treat glaucoma and ocular hypertension. Sunridge will receive 2,000,000 in cash and bonds, and will retain exclusive rights to Canada in this transaction.

"We're going to use this money to retire debt, bring our filings current with the SEC and execute our business plan to set up glaucoma treatment centers across Canada," states G. Richard Smith, CEO of Sunridge. "This is a good move for us, as we should be able to open our first clinic, and start to focus on bringing Sunridge to profitability."

The closing is expected to take place before the end of this month. Additional updates will be forthcoming.

Forward Looking Statements

This press release and the statements of representatives of Sunridge International, Inc. (the "Company") related thereto contain, or may contain, among other things, "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact included herein are "forward-looking statements," including any other statements of non-historical information. These forward-looking statements are subject to significant known and unknown risks and uncertainties and are often identified by the use of forward-looking terminology such as "projects," "may," "could," "would," "should," "believes," "expects," "anticipates," "estimates," "intends," "plans," "ultimately" or similar expressions. All forward-looking statements involve material assumptions, risks and uncertainties, and the expectations contained in such statements may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including factors and risks discussed in the periodic reports that the Company files with the Securities and Exchange Commission (http://www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. The Company undertakes no duty to update these forward-looking statements except as required by law.

Contact Information

  • CONTACT:
    Jeff Smith
    Sunridge International
    T: +1-480-837-6165
    e-mail: Email Contact