Remedent Signs Agreement With Small Caps Financial Investment SA (SCF) to Open Glamsmile Studios in Belgium and Italy
November 30 2010 - 9:00AM
Marketwired
Remedent, Inc. (OTCBB: REMI), an international company specializing
in research, development and the manufacture of oral care and
cosmetic dental products signed an agreement with Small Caps
Finance SA to open at least two Glamsmile Studios in Brussels,
Belgium and Milan, Italy with an option for Rome, Italy as well.
SCF will provide all the necessary financing to a joint venture
between both entities, where Remedent/Glamsmile will be the
majority owner and provide all the necessary product and support to
open the Studios. Glamsmile will operate and manage the Studios
under the same formula for success as it does in Europe and Asia.
It is anticipated that both Studios will open prior to the
conclusion of our year end, namely March 31, 2011.
"The direct retail model of opening Studios in both Asia and
Europe has been the reason for our financial turnaround as opposed
to our previous wholesale (B2B) model via a distributor. This has
led to two consecutive profitable quarters since the beginning of
our financial year, April 1, 2010. In addition to western Europe,
we will continue with our Glamsmile Studio expansion in Asia as
well where we anticipate opening our Shanghai superstore in early
2011. I am very excited about our new venture with SCF for western
Europe which will give us further exposure into two new markets,
namely Milan and Brussels. The locations for our two new Studios
have already been determined and they will be based in the most
affluent shopping areas of both major cities. I look forward to the
opening of both these two new locations where we expect the
financial success to continue as we have experienced with our other
Studios located in both Europe and Asia," said Guy DeVreesse, the
CEO of Remedent.
SCF currently has investments in both the pharmaceutical and
health care industries. "The Glamsmile concept is unique and we are
very excited about introducing beautiful smiles into new markets,"
said Mr. Bernardo Ruzziconi, SCF, Chief Executive Officer.
About Remedent.
Remedent, Inc. specializes in the research, development,
manufacturing and marketing of oral care and domestic dentistry
products. The company serves the professional dental industry with
breakthrough technology for dental veneers. These products are
supported by a line of professional veneer whitening and teeth
sensitivity solutions. Headquartered in Belgium, Remedent
distributes its products to more than 35 countries worldwide. For
more information, go to www.remedent.com
Forward-Looking Statements
Statements in the press release that are "forward-looking
statements" are based on the current expectations and assumptions
that are subject to risks and uncertainties. Such forward-looking
statements involve known and unknown risks, uncertainties and other
unknown factors that could cause Remedent's actual operating
results to be materially different from any historical results or
from any future results expressed or implied by such
forward-looking statements. In addition to statements that
explicitly describe these risks and uncertainties, readers are
urged to consider statements that contain terms such as "believes,"
"belief," "expect", "intends," "anticipate," "anticipates,"
"plans," "projects," "project," to be uncertain and forward
looking. Actual results could differ materially because of facts
such as Remedent's ability to achieve the synergies and value
creation contemplated by the proposed transaction. For further
information regarding risks and uncertainties associated with
Remedent's business, please refer to the risks described in
Remedent's filings with the Securities and Exchange Commission,
including but not limited to, its annual report on Form 10-K and
quarterly reports on Form 10-Q. We undertake no duty to revise or
update any forward-looking statements to reflect events or
circumstances after the date of the press release.
CONTACT: Stephen Ross 310 922 5685 docktor99@aol.com
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