PASADENA, CA--(Marketwire - October 06, 2009) - Sanguine Corp (OTCBB: SGUI) announced today
that it will change the name of its wholly-owned subsidiary, Sanguine Life
Sciences, to SGN Life Sciences. The Company explained that the name change
is necessary to better reflect the subsidiary's intended business model.
Company spokesperson, Mr. Frank Marra, explained, "When we decided to set
up the Sanguine Life Sciences subsidiary we did so primarily for the
purpose of seeking partnering relationships or merger candidates for
PHER-O2. However, it has become clear that the scope of the subsidiary can
represent much more opportunity to the Company. We intend to use the SGN
Subsidiary to take advantage of market opportunities that have presented
themselves to us; which includes, but is not limited to, PHER-O2 potential
collaborations. Quite frankly, we are seeking, and have been in
conversations with, potential partnership, merger and/or acquisition
candidates that can move the Company towards revenue generation."
Mr. Marra added, "In recent months we have been actively working to find
the proper relationship to assist us in taking PHER-O2 to the next level.
We believe that there are a number of very exciting opportunities for
PHER-O2 in the marketplace and we are in the process of determining the
best possible partner, or partners, for us."
Forward-looking statements in this release are made pursuant to the "safe
harbor" provisions of the Private Securities Litigation Reform Act of 1995.
Investors are cautioned that such forward-looking statements involve risks
and uncertainties, including without limitation, continued acceptance of
the Company's products, increased levels of competition for the Company,
new products and technological changes, the Company's dependence on
third-party suppliers, and other risks detailed from time to time in the
Company's periodic reports filed with the Securities and Exchange