MIAMI, April 18, 2011 /PRNewswire/ -- Double Eagle Holdings, Ltd. (Pink Sheets: DEGH) announced today that it has successfully completed the acquisition of Fuse Science, Inc. (www.fusescience.com). Under the terms of the acquisition agreement, Fuse Science becomes a wholly-owned subsidiary of Double Eagle, effectively repositioning Double Eagle as an innovation-based consumer products holding company.
“Fuse Science Inc. is a fast emerging company made from leading scientific minds and consumer product industry experts with a common goal to raise the standard of product performance through science in key multi-billion dollar categories,” said Brian Tuffin, President & Chief Operating Officer. “We’ve discovered through a combination of pending patents and trade secrets that we can now encapsulate nutrients, actives and other molecules at a far greater concentration than any time in history. What used to require consuming an 8 oz energy drink can be done with safer formulations and faster results in a single drop under the tongue.”
Fuse Science technology significantly accelerates conveyance of medicines or nutrients relative to pills and liquids and can be employed in numerous products to enhance how consumers receive medicines, vitamins and minerals. These breakthroughs will deliver Energy, Nutrition, Medication, Skin Care and an endless number of other products with faster absorption, quicker results and better efficacy.
“The public markets provide an appropriate means to fully capitalize the development and commercialization of our proprietary patent-pending technology,” said Brian. “This acquisition sets the stage for our team to create significant, sustained shareholder value.”
Under the terms of the acquisition agreement, Double Eagle issued 23,297,000 shares of its common stock to the four existing shareholders of Fuse Science in exchange for all of Fuse Science’s outstanding common shares. The acquisition completes a letter of intent signed by the parties on October 18, 2010.
About Double Eagle Holdings
Double Eagle Holdings (Pink Sheets: DEGH) is an innovative consumer products holding company and the parent company of Fuse Science, Inc. Fuse Science is the developer of patent-pending conveyance technologies poised to redefine how consumers receive energy, medicines, vitamins and minerals, delivering their benefits faster and more effectively than ever before. Information about Fuse Science is available online at www.fusescience.com or by calling 305-503-FUSE (3873).
Safe Harbor Statement: Certain statements and information included in this release may constitute "forward-looking statements" as defined in the Federal Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied in such statements. Additional discussion of factors that could cause actual results to differ materially from management's projections, estimates and expectations is contained in the company's SEC filings. The company assumes no obligation to update any forward-looking statements as a result of new information, future events or developments, except as required by federal securities laws.
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SOURCE Double Eagle Holdings, Ltd.