SOURCE: Xynergy Corp.

March 17, 2006 09:30 ET

Xynergy Signs Preliminary Purchase Agreement With Fitness Nutrition & Weight-Loss Company

AVENTURA, FL -- (MARKET WIRE) -- March 17, 2006 --Xynergy Corp. (OTC: XYNY) announced today that a Preliminary Purchase Agreement has been signed to acquire the assets of Fitness and Nutrition Center (www.fitnessweb.com), a fitness nutrition and weight-loss company based out of Pompano Beach, Florida.

Distribution of products for this company includes U.S. Government agencies and retailers worldwide, as far as Africa, with a heavy clientele in Latin America. According to this fitness company's financials, it averaged approximately $2.7 million in revenues in the last two years.

Recent statistics reveal a growth of 14% in sales for 2004, at $15.6 billion for the Sports Nutrition and Weight-loss industry. Forecasts for this industry are looking at a continued growth rate of 5-7% annually, reaching a whopping $22.8 billion in sales by 2013 in the U.S. alone.

"Most certainly, this acquisition represents a new phase for Xynergy," stated CEO Raquel Zepeda. "These healthy revenues will no doubt mean more value and liquidity for Xynergy stock, while it opens vast distribution opportunities for other products under the Xynergy umbrella."

Closing of the acquisition is subject to financing, completion of due diligence, and other conditions that are expected to be finalized on or about April 30, 2006.

Xynergy Corporation (www.xynergycorp.com) is a holding company for: Raquel of Beverly Hills cosmetics (www.raquelofbeverlyhills.com), and Machinations, Inc., producer of Think Blots greeting cards and related products (www.dementeddiagnosis.com).

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein which are not historical fact are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements.

Contact Information

  • Contact:
    Raquel Zepeda
    Xynergy Corporation
    18851 NE 29th Ave., Suite 700
    Aventura, FL 33180
    (305) 749-2525
    Email Contact