CHARLOTTE, N.C., June 18, 2009 (GLOBE NEWSWIRE) -- Double Eagle Holdings, Inc. (OTCBB:DEGH), announces today that it has entered into a Letter of Intent to acquire a majority interest in the "Plunge Bob". The proposed purchase price is a cash payment of $350,000, 3,500,000 shares of Double Eagle Holdings, Inc. common stock with options to purchase an additional 500,000 shares at $.02/share. The closing is to take place on or before July 15, 2009 upon the completion of satisfactory due diligence and a definitive stock purchase agreement.
About Plunge Bob
The Plunge Bob is a poly-absorbent obturator designed to aid and assist surgeons and technicians during their quest to clean, recover and remove tissue, bowel or adhesions caused by coagulation, prepping silicon, solutions and debris in or on the optical scopes and instrumentation, during laparoscopic surgical procedures.
The "Plunge Bob" and its uniquely patent-pending design and application will safely and easily reduce risk and liability for both patients and surgeons.
About Double Eagle Holdings, Inc.
Double Eagle Holdings, Inc. (www.doubleeagleholdingsltd.com) is a closed-end investment company that invests in value-based opportunities that are typically either privately held or considered small or micro cap publicly traded companies. Double Eagle's investment objective is to generate both current income and long term capital appreciation through debt and equity investments. Double Eagle Holdings, Inc. is a registered business development company under the Investment Company Act of 1940 ("1940 Act").
Forward-Looking Statements in this news release are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to certain risks, and uncertainties and actual results could differ from those discussed. This material is information only, and is not an offer or solicitation to buy or sell the securities.