LARGO, Fla., Aug. 13 /PRNewswire-FirstCall/ -- GeoPharma, Inc. (the “Company”) announced today that its shareholders, at a special meeting of shareholders held on August 10, 2007 in Largo, FL, approved the proposed merger transaction (the “Merger”) with Dynamic Health Products, Inc. (“Dynamic”). The Company and Dynamic will complete the Merger only if the conditions set forth in the Agreement and Plan of Reorganization (the “Merger Agreement”) are satisfied or waived. The closing of the Merger is anticipated to occur on or about August 31, 2007. As a result of the Merger, a wholly-owned subsidiary of GeoPharma will be merged into Dynamic, which as a result will become a wholly-owned subsidiary of GeoPharma. Under the terms of the Merger Agreement, the Company will exchange approximately 0.1429 shares of its common stock for each share of Dynamic common stock and fractional shares will be rounded up to the nearest whole share.
More than 98% of the shares that voted, voted in favor of the Merger.
About GeoPharma, Inc.
GeoPharma, Inc. is a rapidly growing pharmaceutical company specializing in the manufacturing and distribution of over-the-counter, nutritional, generic drug and functional food products. The company’s growth strategy is to capitalize on its manufacturing expertise to develop high margin generic or novel drugs for niche markets with high barriers to entry. GeoPharma’s competitive advantage lies in its ability to circumvent or overcome the challenges in these markets. For more about GeoPharma, Inc., go to our websites at www.geopharmainc.com, www.hoodiadexL10.com and www.onlineihp.com .
About Dynamic Health Products, Inc.
Dynamic is a distributor in the sports nutrition product and performance drink industries and is engaged in developing, wholesaling, and distributing a wide variety of non-prescription drugs, dietary supplements, vitamins, health foods, nutritional products, soft goods and other related products. Its wholly owned operating subsidiaries include Bob O’Leary Health Food Distributor Co., Inc., Dynamic Marketing I, Inc. and Herbal Health Products, Inc. For more about Dynamic Health Products and its subsidiaries go to our web sites at http://www.dyhp.biz, http://www.bossonline.net and http://www.dymark.com.
This press release may contain statements, which constitute forward- looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including those regarding the company and its subsidiaries’ expectations, intentions, strategies and beliefs pertaining to future performance. All statements contained herein are based upon information available to the company’s management as of the date hereof, and actual results may vary based upon future events, both within and without management’s control. Important factors that could cause such differences are described in the company’s periodic filings with the Securities and Exchange Commission.
GeoPharma, Inc.
CONTACT: Carol Dore-Falcone, VP/CFO of GeoPharma, +1-727-544-8866 x244,cdf@onlineihp.com; Investor relations: Zangani Investor Community,+1-908-788-9660, office@zangani.com,
