BEVERLY HILLS, Calif., Dec. 22, 2010 /PRNewswire-FirstCall/ -- Dafoe Corp. (OTC Bulletin Board: DAFX) today announced that it has completed the purchase from Zenith Global Enterprises Limited of certain trade names, trademarks, logos, and website addresses related to all-natural skin care products previously developed by Davi Skin, Inc. Zenith acquired these assets from Davi Skin, Inc.'s trustee in September 2010. In addition, Carlo Mondavi has been appointed as the Chairman of the Board of Dafoe Corp., and Parrish Medley has been appointed as the new President.
Davi Skin, Inc. was co-founded by Carlo Mondavi in 2003 to develop and market a luxury brand of skin care products using antioxidants found in wine and grapes. Mr. Mondavi served as Chairman of Davi Skin, Inc. from 2003-2008.
In connection with the asset purchase agreement, Dafoe Corp. plans to change its corporate name to Davi Luxury Brand Group, Inc.
Carlo Mondavi is the grandson of American Icon Robert Mondavi (Founder of Robert Mondavi Winery, and co-founder of Continuum Winery Estate) where through his grandfather and family instilled in him was a legacy of family values and business ethics that he honors vigorously. Mr. Mondavi began working at the Robert Mondavi Winery in 1987. He now sits on the family council of Continuum Estate and actively participates in the wine business and Continuums special events for sales and marketing.
In addition, Davi Skin's former President and Chief Executive Officer, Parrish Medley will assume the roles of President (and will become the Chief Executive Officer of the company on January 1, 2011). Mr. Medley has more than 20 years of experience in the securities and investment banking industry. He co-founded Davi Skin in 2003, and served as Davi Skin's President and CEO from 2003-2006, after having been employed as a venture capitalist and a private money manager from 1997 to 2004. His previous experience includes roles as a manager and financial consultant for numerous registered brokers/dealers.
Under the terms of the asset purchase agreement, Dafoe issued 15 million shares of its common stock to Zenith in exchange for the exclusive rights to all trademarks, trade names, logos and website addresses related to products that were previously owned by Davi Skin, Inc., and subsequently acquired by Zenith.
The Company has also filed a statement with the U.S. Securities and Exchange Commission regarding changing in majority of directors pursuant to Rule 14f-1. Mr. Kyle Beddome, who was the sole officer and director of Dafoe Corp. will resign from all of his current positions by December 31, 2010, and Mr. Mondavi and Mr. Medley will thereafter be the new officers and directors of Davi Luxury Brand Group, Inc. In addition, Parrish Medley and Carlo Mondavi have purchased 11,250,000 shares and 18,750,000 shares, respectively, of the Company's common stock from Kyle Beddome.
"We are excited and committed to once again building a skin care company with uncompromising standards, the absolute finest natural ingredients and the latest technology, and bring both together to create one of the most advanced anti-age prevention skin care lines available," said Carlo Mondavi. "The DAVI products that we will release will combine the exceptional antioxidant benefits extracted from the finest vineyards and wines of the world together with the most advanced scientific technologies."
Dafoe Corp.'s previously announced letter of intent with Agkha Intelli-Tec was terminated in November 2010 by mutual consent.
Safe Harbor Cautionary Statement
Certain statements in this news release, including statements that we "believe," "expect," "intend," "plan" or words of similar import, are forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans, new products and services and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include, among other things, the following: the company's successful development and implementation of the new products and services, demand for the new products and services, the company's ability to successfully compete against competitors offering similar products and services, general economic and business conditions; unexpected changes in technologies and technological advances; ability to commercialize and manufacture products; changes in, or failure to comply with, governmental regulations; and the ability to obtain adequate financing in the future. This information is qualified in its entirety by cautionary statements and risk factors disclosure contained in certain of the Company's Securities and Exchange Commission filings available at http://www.sec.gov, which you should carefully review. Neither Dafoe Corp., nor Zenith Global Enterprises Limited assume any obligation to update or revise any forward-looking statements, whether as the result of new developments or otherwise.
Name: Parrish Medley
Phone: (310) 402-3177
SOURCE Dafoe Corp.