Corrected and Replaced: Cornell Capital Partners LP Stops Conversion of Debt into Common Stock of Natural Nutrition
HOUSTON, Nov. 1 /PRNewswire-FirstCall/ — Natural Nutrition, Inc. (BULLETIN BOARD: NNTN) announced today that Cornell Capital Partners LP (now known as YA Global Investments) shall not effect any further conversions of the company’s debt into common stock until March 31, 2008. Additionally, no more conversions will be made until December 31, 2008, if the company retires or refinances its existing senior debt in the amount of $9,293,000 by March 31, 2008. As of today’s announcement of the stopping of these conversions, the company’s shares outstanding are approximately 29.5 million shares of common stock.
Tim Connolly, CEO of Natural Nutrition stated, “We greatly appreciate the cooperation and support of Cornell in suspending further conversions of debt into common stock from today until as long as December 31, 2008. This will allow Natural Nutrition to focus on building its core nutraceutical and nutritional supplement business while having the flexibility of adequate time to seek the conventional financing needed to pay off our company’s debt by December 31, 2008. Our shareholder’s interests are well-served with this action, and we believe this will allow us to consummate more traditional financing with less dilutive consequences. We are happy to convey this good news to our shareholders.”
InterACTIVE Nutrition International Inc. is a majority owned subsidiary of publicly traded Natural Nutrition, Inc. (BULLETIN BOARD: NNTN – News) and is partially owned by Corporate Strategies Merchant Bankers. InterACTIVE Nutrition is an international leader in sports and nutritional supplements backed by over 10 years of research, development and sales of sports nutrition products in over fifteen countries throughout the world. InterACTIVE Nutrition’s trusted products are scientifically formulated, and manufactured to improve athletic performance and overall health. For more information on any of InterACTIVE Nutrition’s products, please visit http://www.interactivenutrition.com/.
This press release contains forward-looking statements, which involve known and unknown risks, uncertainties or other factors that could cause actual results to materially differ from the results, performance or other expectations implied by these forward-looking statements. Natural Nutrition’s expectations regarding future sales and profitability assume, among other things, stability in the economy and reasonable growth in the demand for its products, the continued availability of raw materials at affordable prices, retention of its key management and operating personnel, as well as other factors detailed in Natural Nutrition’s filings with the Securities and Exchange Commission. The forward-looking statements, assumptions and factors stated or referred to in this press release are based on information available to Consolidated Graphics today. Natural Nutrition expressly disclaims any duty to provide updates to these forward-looking statements, assumptions and other factors after the day of this release to reflect the occurrence of events or circumstances or changes in expectations.
CONTACT: Turnaround Partners / Corporate Strategies, Inc. Marcy Dorotik (713) 337-3717 email@example.com
Natural Nutrition, Inc.
CONTACT: Marcy Dorotik of Turnaround Partners-Corporate Strategies,Inc., +1-713-337-3717, firstname.lastname@example.org
Web site: http://www.interactivenutrition.com/