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Nerium Biotechnology Settles All Disputes with Nerium International and Other Parties

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Nerium Biotechnology Settles All Disputes with Nerium International and Other Parties

Canada NewsWire

SAN ANTONIO, July 27, 2018 /CNW/ - Nerium Biotechnology, Inc. ("the "Company") announced today that all of its disputes with Nerium International, LLC ("NI"); JO Products, LLC and Jeff Olson have been resolved. The parties entered into a settlement agreement effective July 26, 2018 that provides for the settlement of all disputes pending between the parties. The terms of the settlement provide for the payment of US$10,000,000 by NI to the Company's subsidiary, Nerium Skincare, Inc. ("NSC"), US$6,000,000 of which was paid on July 26, 2018, with the balance to be paid over a three-year period.  As partial consideration for the payments, NSC has agreed to the redemption of all of its interests in NI. During a ten-month transition period, NSC will continue to supply NI with NeriumAD Night, NeriumAD Day and NeriumAD Firm on agreed terms and will refrain from selling some of its products in specified regions where NI carries on business. The settlement also confirms the Company's ownership of key trademark and other intellectual property rights, allowing the Company to develop new products and pursue new business opportunities.

"We are very happy to have achieved this resolution and the Company looks forward to providing shareholders with further updates on its new business plans and opportunities," said Dennis Knocke, the Company's Chief Executive Officer.

About Nerium Biotechnology, Inc.

Nerium Biotechnology, Inc. is a biotechnology company involved in the research, product development, manufacture and marketing of Nerium oleander-based products. The Company's shares are not listed on any stock exchange or quotation system.

Forward Looking Statements: Statements made in this press release that relate to future plans, expectations, events or performances are forward looking statements. Forward-looking statements are not based on historic facts, but rather on current expectations regarding future events. They are based on information available to management and/or assumptions management believes are reasonable. Many factors could cause future events and outcomes to differ materially from those discussed in the forward-looking statements. Although the forward-looking statements are based on what management believes are reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with these forward-looking statements. The forward-looking statements in this press release are made as of the date hereof and, except as required by applicable securities laws, the Company does not assume any obligation to update or revise such forward-looking statements. More information about the Company is available in its disclosure documents, all of which are available on the Company's issuer profile on SEDAR at www.sedar.com

SOURCE Nerium Biotechnology, Inc.

View original content: http://www.newswire.ca/en/releases/archive/July2018/27/c6940.html

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