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- Natrol Appoints Vincent Andrich VP Sales for Prolab Division
- Vermont Pure Holdings, Ltd. Announces Record Fiscal Year 2001 Results
- Body Shop Reports 24.8 Mil Euro Sales Revenues
- Spectrum Organic Products Responds to FDA Letter Regarding Use of Non-GMO Seal on Canola Oil Label
- Supplement Group Targets Consumer Education
- Advanced Nutraceuticals, Inc. Announces 2001 Year End Results And Additional Financing
- ADM Awarded Nutraceuticals Patent Patent Creates Proprietary Position for ADM in Fast-Growing Nutraceutical Market
- Tantivy Sciences Obtains Exclusive License to Unique Nutraceutical Products
- Top GNC Executives Tour Pittsburgh Market to Present New Business Plan and Expansion Possibilities; Meeting will focus on new business strategies and growth
- Nutrition 21 Receives Patent For the Nutritional Treatment of Type 2 Diabetes; Patent Presents New Pharmaceutical Licensing Opportunities
- ConsumerLab.com Finds Most B-vitamin Supplements Contain What They Claim, But Often Exceed Safe Levels - Consumers Cautioned to Be Aware of Side Effects with High Dose Products
- Nutraceutix, Inc., Nutravite Announcement Commercial Availability of CDT™ Glucosamine for Canadian Marketplace
- Harvey Kamil Appointed President of NBTY, Inc. - Scott Rudolph to Continue as Chairman and CEO
- drugstore.com Expects to Reach Profitability Target in 2003
- Human Genome Project Leads to Innovative Healthcare
- NPIcenter’s Career Center targets nutraceutical Industry
- Adding Vitamin C To Certain Drugs May Help Treat Alzheimer's, Other Brain Disorders
- Adding Vitamin C To Certain Drugs May Help Treat Alzheimer's, Other Brain Disorders
- Editorial: An Exercise in Synergy
- NBTY, Inc. Appoints Harvey Kamil President, Scott Rudolph To Continue As Chairman And CEO
- Ross Products to Launch Infant Formula Supplemented With Two New Fatty Acids
- Ross Products to Launch Infant Formula Supplemented With Two New Fatty Acids
- Ross Products to Launch Infant Formula Supplemented With Two New Fatty Acids
- LignisulMSM vs Naproxen for Osteoarthritis Clinical Trial Gets Underway
- Natural Health Trends Corp. Launches Lexxus Taiwan
- FDA Presents Compliance Guide for Structure/Function Claims
- New TrimFit® Bars Redefine Energy Bar Category
- New TrimFit® Bars Redefine Energy Bar Category
- Probiata® Offers Safe, Natural and Effective Alternative
- Alive & Well with Michelle Harris
- Be Well and Get Rewarded! Find Personalized Wellness Solutions and Earn Free Vitamins at NatureMade.com
- Consumers Search for Healthy Cleaning Products That Work
- Nordic Naturals: Omega 3 Fatty Acids
- Cyanotech Names Bob Capelli as Director of Sales
- Nutraceutical Clinical Laboratories International, Inc., Secures $2 Million in Funding
- KAVA ADVISORY: Health Canada is advising consumers not to use any products containing kava
- Modern Science Confirms Ancient Wisdom!
- Modern Science Confirms Ancient Wisdom!
- "Natural" or "Plant-Derived" Labeling Can Mislead
- CDN: Natural Health Products Report - Update
- NPI Editorial: Are we using Best Practices?
- AHPA Update: Kava Information from the AHPA Executive Committee
- European Commission Proposes Registration Scheme for Herbal Medicine to Avoid Need for Testing
- Statement on Kava in New Zealand
- BICL Discontinues Kava Sales; Health Canada Issues Consumer Warning
- BICL Discontinues Kava Sales; Health Canada Issues Consumer Warning
- Top GNC Executives Tour Chicago Market to Present New Business Plan and Expansion Possibilities; Meeting Will Focus On New Business Strategies and Growth
- Genentech Named One of Fortune's '100 Best Companies to Work For'; Biotechnology Industry Leader Named to List for Fourth Consecutive Year
- Perrigo Company Reports Second Quarter Fiscal 2002 Earnings of $0.22 Per Share
- NBTY Reports Record First Quarter Sales & Net Income Wholesale Sales Up 66%
- Leiner Health Products Appoints Robert Reynolds as Chief Financial Officer
- Leiner Health Products Appoints Robert Reynolds as Chief Financial Officer
- Cyanotech Japan YK Formed to Service Growing Market Demand
- Cyanotech Japan YK Formed to Service Growing Market Demand
- Cyanotech Japan YK Formed to Service Growing Market Demand
- Natural Health Trends Corp. Enters Caribbean Market;
- Natural Health Trends Corp. Enters Caribbean Market;
- Nutrition 21 Names Eric W. Klar as Business Director of Its Consumer Products Operations
- Nutrition 21 Names Eric W. Klar as Business Director of Its Consumer Products Operations
- Phytomedics Inc. and Degussa AG Enter Strategic Collaboration
- Phytomedics Inc. and Degussa AG Enter Strategic Collaboration
- Imperial Ginseng Products Ltd. Reports Second Quarter 2002 Fiscal Year Results
- UK's Luscious Organic and Low Fat Launches Bid for Third Round Funding To Go Global.
- UK's Luscious Organic and Low Fat Launches Bid for Third Round Funding To Go Global.
- UK's Luscious Organic and Low Fat Launches Bid for Third Round Funding To Go Global.
- UK's Luscious Organic and Low Fat Launches Bid for Third Round Funding To Go Global.
- Natrol, Inc. Announces $20 Million Write Down of Goodwill
- Nature's Sunshine Products Reports Fourth Quarter and Year End Results
- Frost & Sullivan Honours GAT Food Essentials GmbH With European Functional Food & Beverage Microencapsulation Technology Innovation Award
The 2009 Frost & Sullivan European Functional Food & Beverage Microencapsulation Technology Innovation Award has been presented to GAT Food Essentials GmbH in recognition of its proprietary wowCAPS(R) technology.
- Frost & Sullivan Honours GAT Food Essentials GmbH With European Functional Food & Beverage Microencapsulation Technology Innovation Award
The 2009 Frost & Sullivan European Functional Food & Beverage Microencapsulation Technology Innovation Award has been presented to GAT Food Essentials GmbH in recognition of its proprietary wowCAPS(R) technology.
- Frost & Sullivan Honours GAT Food Essentials GmbH With European Functional Food & Beverage Microencapsulation Technology Innovation Award
The 2009 Frost & Sullivan European Functional Food & Beverage Microencapsulation Technology Innovation Award has been presented to GAT Food Essentials GmbH in recognition of its proprietary wowCAPS(R) technology.
- BioExx Achieves Self-Affirmed GRAS Status for Protein Isolates
Bio-Extraction Inc., has announced that it has completed the self-affirmation process to qualify its specialty canola protein products, Isolexx(TM) and Vitalexx(TM), as self-affirmed GRAS for their intended use in various foods and beverages, thus providing a basis for the sale of these products in the United States when commercial production commences in Q1 2010.
- BioExx Achieves Self-Affirmed GRAS Status for Protein Isolates
Bio-Extraction Inc., has announced that it has completed the self-affirmation process to qualify its specialty canola protein products, Isolexx(TM) and Vitalexx(TM), as self-affirmed GRAS for their intended use in various foods and beverages, thus providing a basis for the sale of these products in the United States when commercial production commences in Q1 2010.
- BioExx Achieves Self-Affirmed GRAS Status for Protein Isolates
Bio-Extraction Inc., has announced that it has completed the self-affirmation process to qualify its specialty canola protein products, Isolexx(TM) and Vitalexx(TM), as self-affirmed GRAS for their intended use in various foods and beverages, thus providing a basis for the sale of these products in the United States when commercial production commences in Q1 2010.
- BioExx Achieves Self-Affirmed GRAS Status for Protein Isolates
Bio-Extraction Inc., has announced that it has completed the self-affirmation process to qualify its specialty canola protein products, Isolexx(TM) and Vitalexx(TM), as self-affirmed GRAS for their intended use in various foods and beverages, thus providing a basis for the sale of these products in the United States when commercial production commences in Q1 2010.
- BioExx Achieves Self-Affirmed GRAS Status for Protein Isolates
Bio-Extraction Inc., has announced that it has completed the self-affirmation process to qualify its specialty canola protein products, Isolexx(TM) and Vitalexx(TM), as self-affirmed GRAS for their intended use in various foods and beverages, thus providing a basis for the sale of these products in the United States when commercial production commences in Q1 2010.
- BioExx Achieves Self-Affirmed GRAS Status for Protein Isolates
Bio-Extraction Inc., has announced that it has completed the self-affirmation process to qualify its specialty canola protein products, Isolexx(TM) and Vitalexx(TM), as self-affirmed GRAS for their intended use in various foods and beverages, thus providing a basis for the sale of these products in the United States when commercial production commences in Q1 2010.
- BioExx Achieves Self-Affirmed GRAS Status for Protein Isolates
Bio-Extraction Inc., has announced that it has completed the self-affirmation process to qualify its specialty canola protein products, Isolexx(TM) and Vitalexx(TM), as self-affirmed GRAS for their intended use in various foods and beverages, thus providing a basis for the sale of these products in the United States when commercial production commences in Q1 2010.
- BioExx Achieves Self-Affirmed GRAS Status for Protein Isolates
Bio-Extraction Inc., has announced that it has completed the self-affirmation process to qualify its specialty canola protein products, Isolexx(TM) and Vitalexx(TM), as self-affirmed GRAS for their intended use in various foods and beverages, thus providing a basis for the sale of these products in the United States when commercial production commences in Q1 2010.
- BioExx Achieves Self-Affirmed GRAS Status for Protein Isolates
Bio-Extraction Inc., has announced that it has completed the self-affirmation process to qualify its specialty canola protein products, Isolexx(TM) and Vitalexx(TM), as self-affirmed GRAS for their intended use in various foods and beverages, thus providing a basis for the sale of these products in the United States when commercial production commences in Q1 2010.
- Synergy Flavors Invests in Sensory Flavor Profiling Research
Synergy Flavors has commissioned a new research program at North Carolina State University to study the sensory profiles of a range of protein ingredients.
- Synergy Flavors Invests in Sensory Flavor Profiling Research
Synergy Flavors has commissioned a new research program at North Carolina State University to study the sensory profiles of a range of protein ingredients.
- Synergy Flavors Invests in Sensory Flavor Profiling Research
Synergy Flavors has commissioned a new research program at North Carolina State University to study the sensory profiles of a range of protein ingredients.
- Synergy Flavors Invests in Sensory Flavor Profiling Research
Synergy Flavors has commissioned a new research program at North Carolina State University to study the sensory profiles of a range of protein ingredients.
- Synergy Flavors Invests in Sensory Flavor Profiling Research
Synergy Flavors has commissioned a new research program at North Carolina State University to study the sensory profiles of a range of protein ingredients.
- Beat Crazy Cocoa Prices with Synergy's Chocolate Flavors
Synergy Flavors Inc., has announced their chocolate flavors offer a versatile solution for cocoa reduction and can be used as cocoa extenders.
- Beat Crazy Cocoa Prices with Synergy's Chocolate Flavors
Synergy Flavors Inc., has announced their chocolate flavors offer a versatile solution for cocoa reduction and can be used as cocoa extenders.
- Beat Crazy Cocoa Prices with Synergy's Chocolate Flavors
Synergy Flavors Inc., has announced their chocolate flavors offer a versatile solution for cocoa reduction and can be used as cocoa extenders.
- Beat Crazy Cocoa Prices with Synergy's Chocolate Flavors
Synergy Flavors Inc., has announced their chocolate flavors offer a versatile solution for cocoa reduction and can be used as cocoa extenders.
- Beat Crazy Cocoa Prices with Synergy's Chocolate Flavors
Synergy Flavors Inc., has announced their chocolate flavors offer a versatile solution for cocoa reduction and can be used as cocoa extenders.
- Beat Crazy Cocoa Prices with Synergy's Chocolate Flavors
Synergy Flavors Inc., has announced their chocolate flavors offer a versatile solution for cocoa reduction and can be used as cocoa extenders.
- Beat Crazy Cocoa Prices with Synergy's Chocolate Flavors
Synergy Flavors Inc., has announced their chocolate flavors offer a versatile solution for cocoa reduction and can be used as cocoa extenders.
- NPI Daily - Top of The News for Nov. 20, 2009 - FDA Issues 22 Warning Letters to Website Operators
Frost & Sullivan Honours GAT Food Essentials GmbH With European Functional Food & Beverage Microencapsulation Technology Innovation Award; Synergy Flavors Invests in Sensory Flavor Profiling Research; FDA Issues 22 Warning Letters to Website Operators; Nordic Naturals Ultimate Omega™ First Fish Oil to Participate in NFL/NFLPA Sports Nutrition Label Certification Program; BioExx Achieves Self-Affirmed GRAS Status for Protein Isolates; New Organic Berry Whole Food Energy Bar from Amazing Grass Delivers Whole Food Nutrition; Beat Crazy Cocoa Prices with Synergy's Chocolate Flavors
- NPI Daily - Top of The News for Nov. 20, 2009 - FDA Issues 22 Warning Letters to Website Operators
Frost & Sullivan Honours GAT Food Essentials GmbH With European Functional Food & Beverage Microencapsulation Technology Innovation Award; Synergy Flavors Invests in Sensory Flavor Profiling Research; FDA Issues 22 Warning Letters to Website Operators; Nordic Naturals Ultimate Omega™ First Fish Oil to Participate in NFL/NFLPA Sports Nutrition Label Certification Program; BioExx Achieves Self-Affirmed GRAS Status for Protein Isolates; New Organic Berry Whole Food Energy Bar from Amazing Grass Delivers Whole Food Nutrition; Beat Crazy Cocoa Prices with Synergy's Chocolate Flavors
- Heart Health Alert: Niacin May Reverse Hardening of the Arteries
- Heart Health Alert: Niacin May Reverse Hardening of the Arteries
- Heart Health Alert: Niacin May Reverse Hardening of the Arteries
- Heart Health Alert: Niacin May Reverse Hardening of the Arteries
- Spotlight on Savory Side Dishes
- Spotlight on Savory Side Dishes
- Spotlight on Savory Side Dishes
- Another Reason to Choose Healthy Lifestyle Habits
- Another Reason to Choose Healthy Lifestyle Habits
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Reduces Interest from Conversion of Health Holdings & Botanicals Debt;
Extends Loan Agreement with Wells Fargo Business Credit
IRVINE, Calif. -- Naturade, Inc. (OTCBB: NRDC), a leading marketer of soy protein products under the Naturade Total Soy(TM) brand name, today received $2.5 million of capital from Westgate Equity Partners, L.P. (Westgate) of St. Louis, in a transaction that provides working capital to build the Naturade Total Soy brand and support continued strong revenue growth.
In simultaneous transactions, Health Holdings & Botanicals, LLC (HHB) agreed to convert its $5.3 million of Naturade debt to common stock. In addition, Wells Fargo Business Credit (Wells) agreed to extend the existing Credit and Security Agreement through December 31, 2003. The recapitalization resulting from these transactions will significantly improve Naturade's balance sheet and financial ratios.
Naturade CEO Bill Stewart said, "The financial strength of our new partnership with Westgate will allow us to intensify our focus on brand-building as the No. 1 brand of soy protein meal replacements in the mass market and to maintain our reputation as innovators of natural products that offer real consumer health benefits. Westgate recognizes our potential, which is supported by the FDA approved heart health claim for soy protein, and understands the value of our distribution base in 28,000 mass market outlets. We also are excited by their interest in creating additional strategic alliances for Naturade."
In consideration of its investment, Westgate received shares of redeemable preferred stock convertible into 13,540,723 shares of common stock (subject to adjustment to protect against dilution) and a three-year warrant to purchase, for $3.5 million, additional shares of redeemable preferred stock convertible into 33,641,548 shares of common stock that would raise Westgate's ownership to 51%. In consideration of its conversion of Naturade's debt and cancellation of its preferred shares, HHB received 35,989,855 shares of common stock. Currently, there are 43,813,494 shares of common stock outstanding.
Naturade has agreed to elect two Westgate representatives to its board of directors. Form 8-K filed with the Securities and Exchange Commission provides a description of the rights of the preferred shares sold to Westgate and the terms of the transactions with Westgate, HHB and Wells.
Westgate is a $120 million, consumer-oriented committed equity fund whose principals offer particular expertise in natural, soy protein-based products. Its investors include the nation's largest independent pension system, numerous financial institutions and high net worth executives. William P. Stiritz, Westgate's chairman and organizer, is the former chief executive officer of Ralston Purina Company, which, until 1997, was the parent company of Protein Technologies International, Inc. (PTI).
PTI, now a division of DuPont, is the world's leading supplier of soy protein isolate raw material and a strategic partner with Naturade, supplying raw material, cooperative marketing support and research and development assistance. Jay Brown, who is responsible for operational oversight of Westgate's portfolio companies, will play a key role in supporting Naturade expansion efforts. Brown worked closely with Stiritz at Ralston Purina where he served as CEO of Van Camp Seafood Company, Continental Baking Company and PTI.
Brown said, "We believe strongly in the long-term growth potential for soy protein products and see Naturade as a solid base from which to build brands that merit high consumer purchase interest and strong retailer support. We have high confidence in the consumer packaged goods experience of the Naturade management team and in the scientific studies that support the Company's key product claims."
The Wells agreement is an amendment to an existing business relationship begun in January 2000 through which Naturade maintains a secured line of credit that contains certain financial and other covenants, as well as restrictions on the payment of dividends and other distributions. It includes a security interest in the equipment, inventory, receivables and other assets of Naturade.
Headquartered in Irvine, Calif., Naturade -- since 1926 -- has been committed to marketing innovative natural products that nourish the health and well-being of consumers. Well-known for its 50 years of leadership in soy protein, Naturade is the number one brand name sold in food, drug and mass merchandise stores. Its premier product, Naturade Total Soy, is a complete line of ready-to-drink, bars and shake mix meal replacement products sold at more than 33,000 supermarkets and drug, health food and mass merchandise stores. The Company's other products include, Ribo-tein(TM), Naturade Organic Soy(TM), Naturade NRG(TM), Naturade Veg(TM), Naturade 100% Soy(TM) and Aloe Vera 80(R) beauty care products. For more information, visit the Naturade Web site at www.naturade.com or call toll-free (877)4 Soy News.
NOTE: THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 PROVIDES A "SAFE HARBOR" FOR CERTAIN FORWARD-LOOKING STATEMENTS. THE STATEMENTS CONTAINED IN THIS NEWS RELEASE THAT ARE NOT HISTORICAL FACTS ARE FORWARD-LOOKING STATEMENTS BASED ON THE COMPANY'S CURRENT EXPECTATIONS AND BELIEFS CONCERNING FUTURE DEVELOPMENTS AND THEIR POTENTIAL EFFECTS ON THE COMPANY. THERE CAN BE NO ASSURANCE THAT FUTURE DEVELOPMENTS AFFECTING THE COMPANY WILL BE THOSE ANTICIPATED BY THE COMPANY. ACTUAL RESULTS MAY DIFFER FROM THOSE PROJECTED IN THE FORWARD-LOOKING STATEMENTS. THESE FORWARD-LOOKING STATEMENTS INVOLVE SIGNIFICANT RISKS AND UNCERTAINTIES (SOME OF WHICH ARE BEYOND THE CONTROL OF THE COMPANY) AND ARE SUBJECT TO CHANGE BASED UPON VARIOUS FACTORS. THESE FACTORS INCLUDE THE IMPACT OF FEDERAL REGULATIONS GOVERNING THE SALE OF THE COMPANY'S PRODUCTS, LESS THAN EXPECTED CONSUMER DEMAND FOR THE COMPANY'S PRODUCTS, PRICING PRESSURES AND OTHER COMPETITIVE FACTORS. THE COMPANY UNDERTAKES NO OBLIGATION TO PUBLICLY UPDATE OR REVISE ANY FORWARD-LOOKING STATEMENTS, WHETHER AS A RESULT OF NEW INFORMATION, FUTURE EVENTS OR OTHERWISE. FOR A MORE DETAILED DISCUSSION OF SOME OF THE ONGOING RISKS AND UNCERTAINTIES OF THE COMPANY'S BUSINESS, SEE THE COMPANY'S FILINGS WITH THE SECURITIES AND EXCHANGE COMMISSION.
CONTACT: Naturade, Inc.
John Hazlin, 714/573-4800, Ext. 221
or
Mark Grody Associates
Mark Grody, 760/674-8012
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