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Health Enhancement Products, Inc. Signs Distribution Agreement With LAVA Corporation of Seoul Korea
| Source: Health Enhancement Products, Inc.
SCOTTSDALE, AZ--(Marketwire - August 7, 2008) - Health Enhancement Products, Inc. (OTCBB : HEPI ) announced today that they have signed a Memorandum of Understanding
(MOU) with Lava Corporation of Seoul Korea for distribution rights for
ProAlgaZyme, HEPI's primary product. Lava had been in negotiations with
HEPI a few years ago but could not proceed as HEPI did not have the
clinical results for ProAlgaZyme necessary to get cleared by the Korean
FDA.
After reviewing the results and peer review from HEPI's successful clinical
trials in Cameroon, that have been published at (www.lipidworld.com), Lava
Corp. is now confident that they can get clearance for PAZ to be
distributed in Korea. The cost of filing for FDA clearance in Korea is
estimated to be approximately $50,000, which will be paid by Lava
Corporation. Korea and the Asian countries are one of the largest markets
for all natural products such as ProAlgaZyme.
About Lava Corporation
Lava Corporation, established in 1969 by Moon K. Kim, imports and
distributes a variety of products to Korea and Asia, including O2 Spa Bar
Liquid Oxygen from the U.S. and NordWater from Finland, as well as many
other products.
About Health Enhancement Products, Inc.
Health Enhancement Products, Inc. is a nutraceutical company engaged in the
development of a Dietary Supplement product using only pure, all-natural
ingredients. The company's sole product is ProAlgaZyme, a liquid product
produced from algae grown in 100% distilled water. The liquid in which the
algae are grown is drawn off, filtered, tested and bottled as ProAlgaZyme.
HEPI Pharmaceuticals, Inc. is exploring the development of the potential
pharmaceutical applications of ProAlgaZyme.
Except for any historical information, the matters discussed in this press
release contain 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. These forward-looking statements involve risks and
uncertainties. A number of factors could cause actual results to differ
from those indicated in the forward-looking statements, including the
timing of completion of a trial, actual future clinical trial results being
different than the results the company has obtained to date, our inability
to obtain regulatory approvals necessary to market and sell PAZ as a
pharmaceutical, and the company's ability to secure funding, including for
the subsidiary's pharmaceutical development of PAZ. Such statements are
subject to a number of assumptions, risks and uncertainties. Readers are
cautioned that such statements are not guarantees of future performance and
that actual results or developments may differ materially from those set
forth in the forward-looking statements. The company undertakes no
obligation to publicly update or revise forward-looking statements, whether
as a result of new information or otherwise.
For more information, please visit www.heponline.com.