updated 9/14/2010 3:45:30 AM ET 2010-09-14T07:45:30

SANTA ANA, Calif., Sept. 13, 2010 (GLOBE NEWSWIRE) -- BioCen Natural products (Pink Sheets:BNPD) (Formerly Bionic Products, Inc) President Daniel J. Kennedy today announced, "We are pleased to announce that on Friday, September 10, 2010, negotiations commenced for the acquisition of BioCentric Energy (Pink Sheets:BEHL) Assets and a formal Letter of Intent was signed. The Companies have a goal to complete this acquisition and Form S-1 Registration within 90 days."

"BNPD will acquire all hard and soft assets of BEHL including, but not limited to, all furniture and equipment, computers, software, intangibles, licenses, and intellectual property. In return, the BEHL shareholders will receive a free trading stock dividend of BNPD upon completion of the S-1 filing becoming effective. The stock divided ratio and qualifying date of holding for BEHL shareholders of record will be announced this week by the Board of Directors of BioCentric Energy Holdings, (Pink Sheets:BEHL)".

"During this transition period, BNPD will continually honor our seventy-five thousand ($75K) a month payment for the Master Sales Exclusivity Agreement with BEHL."

BNPD President Daniel J. Kennedy further commented, "We are looking forward to working with our shareholders during this transition period and will provide continued transparency towards meeting our goals and objectives in becoming the leader in natural algae based products and brands."

The BioCen Natural Products Development Group logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7886

Safe Harbor Statement: This release includes forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by phrases such as BNPD or its management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates" or other words or phrases of similar import. Similarly, statements herein that describe the Company's business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements.

© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved

Discuss:

Discussion comments

,

Most active discussions

  1. votes comments
  2. votes comments
  3. votes comments
  4. votes comments

Data: Latest rates in the US

Home equity rates View rates in your area
Home equity type Today +/- Chart
$30K HELOC FICO 4.73%
$30K home equity loan FICO 5.26%
$75K home equity loan FICO 4.70%
Credit card rates View more rates
Card type Today +/- Last Week
Low Interest Cards 13.42%
13.42%
Cash Back Cards 17.94%
17.94%
Rewards Cards 17.14%
17.14%
Source: Bankrate.com