DALLAS, Dec. 19, 2006 (PRIME NEWSWIRE) -- Direct Pet Health Holdings, Inc. (Pink Sheets:DPHG), today announced that it has entered into a Letter of Intent to acquire another Dallas-based pet industry service provider -- First Pet Life, Inc. (Pink Sheets:FPLF). The company said it would acquire substantially all the assets, tangible and intangible, of the seller, and that it has commenced due diligence that it expects will, on satisfactory completion, lead to the merging of the two companies.
First Pet Life is a pet industry marketing company currently positioning itself to offer pet health insurance, pet supplies, as well as boarding and grooming services nationwide. The comprehensive products and services offered are broad yet inexpensive for the typical pet owner.
Direct Pet Health is positioning itself to become a leader in the industry as the ultimate "One-Stop-Shop" for pet health care. Direct Pet Health looks to provide its members with health information, pet insurance, and pet care products created for a target market driven by a strong demand for pet health care products and services.
Michael Scaccia, president of Direct Pet Health, said the proposed acquisition of First Pet Life would help accelerate the company's growth plans and make its combined services more affordable. "We hope to conclude our due diligence as rapidly as possible in order to integrate the two companies' collective capabilities. We also believe the addition of 3,000 new shareholders who comprise the investor base of First Pet Life offers Direct Pet Health important new opportunities to expand our shareholder outreach efforts."
This press release includes forward-looking statements that involve risks and uncertainties, including but not limited to, product delivery, the management of growth, market place acceptance of certain products and other risks. These forward- looking statements are made in reliance on the "safe-harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that all forward-looking statements involve risks and uncertainties.