KIRKLAND, Wash., July 1, 2010 (GLOBE NEWSWIRE) -- LadyBug Resource Group, Inc. (OTCBB:LBRG) announced today that its wholly owned subsidiary, Inner Path Health Corporation, has signed an exclusive 20-year licensing agreement for the worldwide sales and sub-license rights for the health, cosmetic and hair care product lines of IPHI.
Dr. Craig Barton, COO of LadyBug Resource Group, was appointed President of the Inner Path Health Corporation subsidiary. Dr. Barton said, "Signing this exclusive licensing rights agreement is part of a series of strategic investments that the Company has planned to position LadyBug as an IP marketing innovator. The Inner Path catalog met our criteria for products that address unmet needs, can be fast-tracked to market and sub-licensed to key territories with low manufacturing costs with a rapidly expanding consumer base."
Dr. Barton continued, "Our initial focus for these products will be concluding a joint venture agreement for manufacture and sales in China, followed by sub-licensing South Korea, Taiwan, Vietnam, Japan and India. Our plan is to sign a joint venture for the European, Australian and South American markets while developing the U.S. market on our own. In the U.S., our plan is to target key markets -- multi-level organizations, retail chains and successful e-commerce companies for exclusive license to key products in our catalog that best fit their existing markets."
About LadyBug Resource Group, Inc.
LadyBug Resource Group Inc. (OTCBB:LBRG), headquartered in Kirkland, WA, acquires and licenses breakthrough technologies, patents, patents-pending and trade secrets in the Energy, Health and Intellectual Property sectors. The Company is focusing on the Chinese and American markets for license sales and joint ventures. Wholly owned subsidiaries of the LadyBug Resource Group (www.LadybugRG.com) include New Solar Electricity Corporation (www.NewSolarEC.com) and Inner Path Health Corporation (www.InnerPathHealth.com)
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward-looking statements (within the meaning of Section 27a of the Securities Act of 1933 and Section 21e of the Securities Exchange Act of 1934) regarding us and our business, financial condition, results of operations and prospects. Forward-looking statements in this report reflect the good faith judgment of our management and the statements are based on facts and factors as we currently know them. Forward- looking statements are subject to risks and uncertainties and actual results and outcomes may differ materially from the results and outcomes discussed in the forward-looking statements. Readers are urged not to place undue reliance on these forward-looking statements which speak only as of the date of this press release. We undertake no obligation to revise or update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of the press release. Political and operational risks in the countries in which LadyBug Resource Group Inc. may operate and governmental regulation and judicial outcomes, and other risks are detailed from time to time in LadyBug's filings with the Securities and Exchange Commission, including its Quarterly Report on Form 10-Q for the quarter ended March 31, 2009. Copies of each filing may be obtained from the S.E.C. or its web site at www.sec.gov.
CenterPoint Communications Group, LLC Investor Relations Todd Lorenze 386-775-2020 www.centerpointcg.com