Irvine, CA (PRWEB) March 11, 2010
Cobalis Corporation (CLSC.PK) announced today that it has executed an exclusive international broker agreement covering sales of the Company’s flagship anti-allergy product PreHistin, with EXIM Intertrading Bancorp.
The agreement provides EXIM a four year exclusivity to represent and solicit purchase orders for PreHistin in most countries of the former Soviet Union, and throughout most countries of the former Yugoslavia.
As part of the terms of the agreement, EXIM has secured for Cobalis a bank-guaranteed purchase order for the sale of PreHistin to OC STROYPROEKT, a Moscow based pharmaceutical and healthcare product marketer. The terms of the purchase order call for delivery by Cobalis of the complete quantity ordered via the firm purchase order by January 31, 2011 with a total purchase price of US$20,000,000. The purchase order is irrevocably guaranteed on behalf of OC STROYPROEKT by SBERBANK, the largest bank in Russia, payable upon delivery of PreHistin over the next 11 months.
“PreHistin®, The World’s FIRST Pre-Histamine”™ is different than current allergy anti-histamine treatments which are designed to treat symptoms after they occur. PreHistin works to modulate the immune response to allergens to give allergy sufferers a normal (non-reactive) response when exposed to allergens. It has been shown that in as little as a few weeks, allergy sufferers can experience significant reduction in nasal symptoms, as well as reductions in IgE levels that have been shown to lead to the body’s release of symptom-causing histamine.
Chas Radovich, Cobalis President said, “This landmark international broker agreement and bank-guaranteed purchase order represents the most significant confirmation possible for the ability of Cobalis to bring PreHistin to market on a worldwide basis. The Tier 1 Bank Guarantee from SBERBANK behind this US$20 Million purchase order from OC STROYPROEKT gives Cobalis the platform and financial stability to move forward and achieve the profitability potential for PreHistin the Company has been preparing for. The timing could not be better to begin our international PreHistin sales while we simultaneously prepare to brand PreHistin by launching our US Direct Response Television and Internet advertising campaign this month.”
ABOUT COBALIS CORP—PREHISTIN®
Cobalis Corp. is an over the counter pharmaceutical and nutraceutical development company. Its flagship product, “PreHistin®, The World’s FIRST Pre-Histamine”™, is designed to mitigate overproduction of IgE levels, to restore normal response to seasonal and year-round indoor and outdoor allergens and reduce the likelihood of onset of allergy symptoms resulting from histamine release. PreHistin® is available without prescription for both long-term and daily use.
For PreHistin® product information and ordering please visit at http://www.PreHistin.com or call toll free 1-877-4POLLEN. For additional company information please visit their website at http://www.Cobalis.com
Established in 1841, SBERBANK (Savings Bank of The Russian Federation) currently is the largest credit institution in Russia and CIS, accounting for about a quarter of the aggregate Russian banking assets and a third of banking capital. According to The Banker magazine, as of July 1, 2009, SBERBANK was ranked 38th in the world in terms of Tier 1 capital.
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