Message #34 From:
Stock News Bot Date: December 1, 2006 05:30:00 AM
HESG News Health Sciences Group Provides Update on Kalahari Acquisition
LOS ANGELES--(BUSINESS WIRE)--Health Sciences Group, Inc. (OTCBB:HESG), provider of innovative health
and wellness products, announces continued progress towards the
execution of its previously announced acquisition of Kalahari Limited.
Pursuant to the terms of the amended letter of intent, the anticipated
closing date was extended to December 31, 2006. Kalahari®
Limited is a specialty tea and food company whose products are sold in
over 5,000 stores nationwide.
“Due diligence is proceeding routinely, with
most milestones being achieved as expected," said Fred E. Tannous,
Co-chairman and chief financial officer of Health Sciences Group, Inc. “We
expect to complete outstanding prerequisite items within the next 30
days leading to a signed definitive agreement by year-end.”
About Kalahari Limited
Kalahari (www.KalahariLtd.com)
offers healthy products that are Fuel for Life’s
Safari. Kalahari teas, bottled iced teas and Fruit Trekker®,
100% fruit energy bars, are sold in over 5,000 supermarkets, natural
food stores and specialty retailers nationwide.
About Health Sciences Group, Inc.
Health Sciences Group is dedicated to developing and acquiring unique
and innovative products that support and enhance a "healthstyle" with a
focus on nutrition, wellness and functional well-being. For more
information, visit www.HealthSciencesGroup.com.
This release contains forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Act of 1934 that are based upon current expectations or
beliefs, as well as a number of assumptions about future events.Although
the Company believes that the expectations reflected in the
forward-looking statements and the assumptions upon which they are based
are reasonable, it can give no assurance that such expectations and
assumptions will prove to have been correct.The reader is
cautioned not to put undue reliance on these forward-looking statements,
as these statements are subject to numerous factors and uncertainties,
including without limitation, the independent authority of the special
committee to act on the matters discussed, the successful negotiation of
the potential acquisition and disposal of transactions described above,
successful implementation of the company's business strategy and
competition, any of which may cause actual results to differ materially
from those described in the statements.In addition, other
factors that could cause actual results to differ materially are
discussed in the Company's most recent Form 10-QSB and Form 10-KSB
filings with the Securities and Exchange Commission.
