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 Commission.
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For Sanguine Corporation
Michael Dancy
801-746-3570 (Investor Relations)
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