Innovation Holdings Inc.'s Target Acquisition, PharmaSpritz Corporation, Receives Second Tranche Of Funding

TORONTO -- (MARKET WIRE) -- August 16, 2006 -- PharmaSpritz Corporation of Delaware, the target acquisition of Innovation Holdings Inc. (PINKSHEETS: IVHN) of Nevada and the manufacturer of SlimSpritz weight control spray, Compozure anti-stress oral spray and Spritzzz nighttime sleep aid, has announced the receipt of the second in a series of funding payments from Sentinel Capital Corporation. (www.sentinelcapitalcorp.com)