Remedent Announces Its Transaction in Selling a Portion of Its Investment in GlamSmile Asia Ltd
April 01 2014 - 11:02AM
Marketwired
Remedent Announces Its Transaction in Selling a Portion of Its
Investment in GlamSmile Asia Ltd
GENT, BELGIUM--(Marketwired - Apr 1, 2014) - Remedent, Inc.
(OTCBB: REMI), an international company specializing in research,
development, and manufacturing of oral care and cosmetic dentistry
products, announces that it has completed a transaction in selling
7.85 % of its investment in GlamSmile Asia Ltd for the amount
of $ 3,000,000 to GlamSmile Dental Technology Ltd of which $
1,850,000 have been received during the quarter ending March 31,
2014.
Proceeds of this transaction will be used to pay back the
existing Bank Credit Line facility and to reduce and retire
portions of its long term debt.
This transaction will help Remedent in achieving its goal to
create a healthy Balance Sheet. Details of this transaction will be
made available during our next video presentation.
About Remedent
Remedent, Inc. specializes in the research, development,
manufacturing and marketing of oral care and cosmetic dentistry
products. The company serves 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 28 countries worldwide. For
more information, go to www.remedent.com.
Forward-Looking Statements
Statements in this press release that are "forward-looking
statements" are based on 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," "expects," "expect," "intends," "intend," "anticipate,"
"anticipates," "plans," "plan," "projects," "project," to be
uncertain and forward-looking. Actual results could differ
materially because of factors 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 risk factors 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
this press release.
CONTACT INFORMATION Mr. Luc Maes Marketing Manager Remedent -
Zuiderlaan 1-3 box 8, 9000 Gent - Belgium T: +32 (0)9-2415880 E:
info@remedent.com W: www.remedent.com
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