LOS ANGELES, Sept. 26, 2006 (PRIMEZONE) -- Sunnylife Global, Inc. (Pink Sheets:SNYL) announced today it has completed a $10 million financing through AOB Management Inc. in Arcadia, California (www.aobinc.com) for the restoration of its Xiang Tan World Friendship Hospital in Hunan, China for a total investment of $12.2 million.
AOB Management, Inc. is a financial group that provides business loans and expertise in setting up the U.S. gap accounting systems required at the hospital. The hospital is currently preparing for the renovation work and has begun taking bids from various architectural firms. The bidding is estimated to finish before mid-November, 2006 and distribution of the investment capital is expected to commence by the end of November, 2006.
Sunnylife Global, Inc. became the first American company to be granted a Business License by the Central Government of China to operate in the People's Republic of China. The Xiang Tan World Friendship Hospital was officially turned over to Sunnylife Global, Inc. on May 10, 2006. Since that date, Sunnylife has begun enrollment of new members to participate in its Health Management System (HMS) which Sunnylife is offering to employees of government-owned industrial facilities in conjunction with the Chinese Government Authorities. The Company has completed enrollment of 25,000 members and will continue until it has enrolled 50,000 members. The membership program and payments to Sunnylife are expected to begin in January 2007.
About Sunnylife Global, Inc.
Sunnylife Global, Inc. has developed a Health Management System (HMS) in conjunction with the Chinese Government Authorities that will result in delivering superior quality health care management to its members. The Company is in multiple joint-venture agreements with the World Friendship Hospital Group to renovate and revitalize China's older hospital facilities in order to meet the current International standard. Sunnylife has developed the HMS to meet that standard and is planning to launch in the very near future. In addition, the Company has patented natural, environmentally safe and economically affordable products which it plans to introduce to Chinese consumers through seven different joint venture licensees in China. Sunnylife represents an organization staffed with professional experts in product research, quality acceptance testing, and market development for service to China and the global markets.