Fountain Healthy Aging Inc. to Commence Lawsuits Claiming Over US$210,000,000 Against Dunn Capital Partners, Michael Bailey and Gowling Lafleur Henderson

Fountain Healthy Aging Inc. to Commence Lawsuits Claiming Over US$210,000,000
Against Dunn Capital Partners, Michael Bailey and Gowling Lafleur Henderson

LOS ANGELES, September 30 /PRNewswire-FirstCall/ -- Fountain Healthy
Aging Inc. announced on September 30, 2009 that it is commencing legal
proceedings against Dunn Capital Partners, its principal, Michael Bailey, its
legal counsel, Gowling Lafleur Henderson (Gowlings) and others for a recovery
of damages to the Company and its shareholders.
The claim arises as a result of the default by Dunn Capital Partners in
making payments due to the Company under the terms of the agreement entered
into between the Company, Oak Resources Limited and Dunn Capital Partners
dated 29 July 2009 (the "Agreement"); the breach by Gowlings of the terms of
an agreement under which it would hold stock certificates in the Company in
escrow pending payment by Dunn Capital Partners and; the diminution of the
value of the Company's stock as a direct result of the trading activities of
Dunn Capital Partners using stock which it had acquired without any payment
being made in respect of such stock.
The Company will be requesting a damage award of US$9.6 Million in
respect of amounts due to the Company from Dunn Capital Partners under the
Agreement and US$201 million for the loss in value of the Company's stock and
its business as a result of the activities of Dunn Capital Partners and
Gowlings. If its claims are successful, it is the Company's intention to
declare a special dividend to shareholders and institute a strong stock buy
back program on the open market.
Furthermore, if the claims are successful, it is the intention of the
Company that a minimum of 50% of the amount recovered will be reinvested into
the Company to fully finance the Company's business activities, with the
intention of restoring full value to the Company, its shareholders and its
stock price.
Fountain CEO, Paul Hunston, commented "we have worked very hard to try to
bring about an amicable resolution of this dispute, but throughout we have
repeatedly been faced with misrepresentations made by Michael Bailey
concerning payment and his trading activities, which misrepresentations have
been exacerbated by the activities of Dunn Capital Partner's attorneys
Gowlings, and the partner acting as escrow agent, Michael Boehm. In
particular, the damages suffered have been exacerbated by the release by
Gowlings to Dunn Capital Partners of stock certificates in the Company in
direct contravention of an agreement under which Gowlings had accepted such
certificates as escrow agents pending receipt of payments already due to the
Company from Dunn Capital Partners."
Mr Hunston continued: We have been advised by Dunn Capital Partners that
all of the stock received by them, and for which no payments were made, was
immediately sold in the market in clear breach of the Agreement and to the
detriment of the Company's stock price. We are in the process of retaining
legal counsel, and will be filing claims against all parties for losses
suffered by the Company, as well as exemplary and punitive damages arising
from the wilful conduct of Michael Bailey and Michael Boehm in this matter.
In all of this, I have been and will continue to be mindful of our loyal
shareholders and am determined to try and minimize or eliminate losses
suffered as a result of the actions of the defendants."
Finally, Mr Hunston stated: "Obviously, this lawsuit is a distraction for
management, which I would have preferred to avoid. However, we have a strong
management team and I will not allow this distraction to deflect us from our
business goals, which we remain on course to achieve and about which further
announcements will be made in the coming weeks. However, I feel that it is in
the clear best interests of the Company and all of its shareholders to pursue
this legal action and we will pursue it until justice has been done".
About Fountain Healthy Aging
Fountain Healthy Aging is a company specifically focussed in the anti
aging industry, which is one of the quickest growing industry sectors
worldwide. We have a range of products targeted at the anti aging market,
including our revolutionary flagship product Vitalife, which
we believe is ready to make a massive impact in the anti-aging industry.
We recognize the importance of the anti-aging sector, an emerging dynamic
within the overall health and wellness revolution. We believe that we are
uniquely positioned to capitalize on this rapidly growing trend first with
our unique flagship product, rapidly followed into the market by our other
products which have been specifically developed for this market. Fountain
Healthy Aging's main focus is on the specialty, premium product category,
which is a growing segment of the market that provides gross margins
significantly higher that the lower-priced, mainstream health products market.
For more information please forward questions to our IR team at:
info@athertonhealth.com
Safe Harbour Disclaimer: The statements in the press release that relate
to the company's expectations with regard to the future impact on the
company's results from new products or actions in development are
forward-looking statements, within the meaning of the Private Securities
Litigation Reform Act of 1995. The statements in this document may also
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. Since this information may contain statements that involve risk and
uncertainties and are subject to change at any time, the company's actual
results may differ materially from expected results. Fountain Healthy Aging
Inc
Symbol: FHAI
Exchange: OTCBB
Contact: Paul Hunston, info@athertonhealth.com

SOURCE Fountain Healthy Aging Inc

Contact: Paul Hunston, info@athertonhealth.com, +44-(0)1386-882-262