Newport Beach, Calif., Aug 8 - NutriPure Beverages, Inc. announced today that it has completed its acquisition of XND Technologies, Inc., an Arizona corporation, and that XND Technologies is now a 100% wholly-owned subsidiary of NutriPure Beverages, Inc. Mr. Steve Nickolas, Founder and CEO of XND Technologies, will remain on board as CEO of the subsidiary. The two companies original agreed to merge in December of 2007, then announced shortly thereafter that their merger plans had been reversed and their relationship was being restructured. This announcement marks the completion of that restructuring. In the meantime, NutriPure and XND have continued to work together to bring to market the Nu2O product line of premium enhanced water products, which are currently scheduled for release in October. This acquisition has been structured in the form of a stock-for-stock transaction in which current NutriPure shareholders and management remain in control of the company and XND shareholders are assured a sizeable ownership position regardless of whether XND remains a subsidiary or is eventually spun off as a separate entity.
In response to this announcement, Kenyatto Jones, Chairman and CEO of NutriPure, stated, “We are pleased to announce the acquisition of XND Technologies, Inc. and the retention of Mr. Nickolas as its CEO. This acquisition gives us immediate entry into the highly lucrative premium enhanced water industry with a product line that is both unique and timely and a company that is managed by one of the nation’s top water technology and marketing experts. The structuring of NutriPure as the parent company and XND as the operating subsidiary makes it easier for NutriPure to seek additional complementary opportunities in the ‘healthy food / healthy water’ industries and gives us the flexibility we need to continue to make decisions that we feel will maximize the benefits to our stockholders.” Mr. Nickolas added, “XND shareholders and management are very excited about this acquisition, which was unanimously supported at a recent stockholders meeting. We believe that NutriPure’s support will allow us to bring our products to market and attain a much larger market share in a shorter period of time.”