TULSA, Okla., Dec. 27, 2006 (PRIME NEWSWIRE) -- HealthSport, Inc. (OTCBB:HSPO), ("HSPO") announced today that it has completed its acquisition of 100% of the issued and outstanding stock of Cooley Nutraceuticals, Inc. ("CNI") by issuing 375,000 shares of its restricted common stock. CNI is a non-operational company that owns a proprietary formula that provides relief from symptoms associated with hangovers.
HSPO President, Ross Silvey, stated "The acquisition of CNI provides HealthSport with a second product that can be taken through the use of thin layered strips similar to our electrolyte sports strip which was co-developed with Innozen. We anticipate launching the hangover strip in the second quarter of 2007."
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About HealthSport
HealthSport, Inc. is a company focused on providing better health through natural products. Its flagship product is an electrolyte replacement strip for people who exercise and compete in athletic competitions.
Safe Harbor Act Disclaimer: 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.
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