DEERFIELD BEACH, Fla. and NAPOLEONVILLE, La., July 17, 2007 (PRIME NEWSWIRE) -- Red Reef Laboratories International, Inc. (Pink Sheets:RRLB), a scientific research, development, and marketing group focused on commercializing a variety of chemical and biological products, announced that the company awarded a one-time stock dividend to shareholders as of a July 12, 2007 record date, (anticipated to be paid July 20, 2007, the dividend date requested from the NASD), in the form of restricted shares in the company. The stock dividend is consistent with the company's previously stated multi-part strategy to help increase value to its shareholders.
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Dr. Claus Wagner-Bartak, President of Red Reef Laboratories International, Inc. stated, "With the payment of this stock dividend, we are communicating to our shareholders that we appreciate their loyalty and patience while the company continues to execute its multi-step plan to increase shareholder value. We have pledged to devote 100% of our efforts to build value for Red Reef shareholders and we have made substantial progress so far. This 5% stock dividend is just one of many avenues we will take to provide increased value to our shareholders."
About Red Reef Laboratories International, Inc.:
Red Reef Laboratories International, Inc., under its BioClear(tm) trade name, engages in the removal of mold and mildew from residential and commercial properties using its EPA approved, environmentally friendly chemicals. The Red Reef protocol for the removal of mold eliminates the need to tear down and rebuild walls when building materials are not compromised. The process is extremely cost effective and more efficient than current accepted removal methods.
On July 12, 2007, the company announced it has retained the Baltimore-based Architect and Design firm of Whitney, Bailey, Cox and Magnani to assist in the development of a major Medical Research Center in Napoleonville, LA, on 80 acres of land owned by Red Reef Labs. An updated drawing of the proposed site is provided.
For more information on Red Reef, please visit our website: www.redreef.biz.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: With the exception of historical information, the statements set forth above include forward-looking statements that involve risk and uncertainties. The Company wishes to caution readers that a number of important factors could cause actual results to differ materially from those in the forward-looking statements. Those factors include, but are not limited to, the risk factors noted in the Company's filings with the United States Securities and Exchange Commission, such as the rapidly changing nature of technology, evolving industry standards and frequent introductions of new products, services and enhancements by competitors; the competitive nature of the markets for the Company's products and services; the Company's ability to gain market acceptance for its products and services; the Company's ability to fund its operational growth; the Company's ability to attract and retain skilled personnel; the Company's ability to diversify its revenue streams and customer concentrations; and the Company's reliance on third-party suppliers.
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