Migami, Inc. Acquires ZenGen Assets and Sublicenses Bi-Layer Film Strip Technology in Korea
LOS ANGELES--(Business Wire)--Migami, Inc. (OTCBB:MIGA) has completed its sublicense of Bi-Layer
Film Strip Technology for the territory of South Korea to Migami Korea
for $2 million. The duration of the sublicense extends through July
17, 2020.
In addition, Migami has successfully raised $1 million for the
purpose of investing in a manufacturing plant for Bi-Layer Film Strip
cassettes in Oxnard, CA, with Healthsports, Inc. Migami is currently
working out all the details of the investment with Healthsports, Inc.
Effective January 7, 2008, Migami has entered into an Asset
Purchase Agreement with ZenGen, Inc. As a result of the asset
acquisition, Migami has acquired all the rights to
alpha-melanocyte-stimulating hormone-related peptides synthesized by
ZenGen, Inc. for the cosmetic and OTC use for Worldwide and ZenGen's
Nasal Gel Delivery System. This gives Migami the right to utilize
alpha-melanocyte-stimulating hormone-related peptides in all the
cosmetic products, and also, be able to sublicense it in Asia for OTC
drugs. Migami paid 6 million shares of its common stock to acquire the
foregoing assets of ZenGen, Inc.
Safe Harbor Act Disclaimer
The information contained in this release, other than historical
information, may be considered forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
Projections and other forward-looking statements and management
expectations regarding future events and/or financial performance of
the Company -- although given in good faith -- are inherently
uncertain and actual events or results may differ materially.
Migami, Inc.
John Park, 213/739-1700
Copyright Business Wire 2008
