Double Eagle acquires Fuse Science

Double Eagle Holdings, Ltd. (Pink Sheets: DEGH) announced today that it has successfully completed the acquisition of Fuse Science, Inc.  Under the terms of the acquisition agreement, Fuse Science becomes a wholly-owned subsidiary of Double Eagle, effectively repositioning Double Eagle as an innovation-based consumer products holding company.

"Fuse Science Inc. is a fast emerging company made from leading scientific minds and consumer product industry experts with a common goal to raise the standard of product performance through science in key multi-billion dollar categories," said Brian Tuffin, President & Chief Operating Officer. "We've discovered through a combination of pending patents and trade secrets that we can now encapsulate nutrients, actives and other molecules at a far greater concentration than any time in history... What used to require consuming an 8 oz energy drink can be done with safer formulations and faster results in a single drop under the tongue."

Fuse Science technology significantly accelerates conveyance of medicines or nutrients relative to pills and liquids and can be employed in numerous products to enhance how consumers receive medicines, vitamins and minerals. These breakthroughs will deliver Energy, Nutrition, Medication, Skin Care and an endless number of other products with faster absorption, quicker results and better efficacy.

An independent, third-party valuation of Fuse Science intellectual property was conducted prior to completion of the acquisition and in advance of audited financial statements to benchmark its significance planning stage company. The valuation report is available online at www.fusescience.com.

"The public markets provide an appropriate means to fully capitalize the development and commercialization of our proprietary patent-pending technology," said Brian.  "This acquisition sets the stage for our team to create significant, sustained shareholder value."  

Under the terms of the acquisition agreement, Double Eagle issued 23,297,000 shares of its common stock to the four existing shareholders of Fuse Science in exchange for all of Fuse Science's outstanding common shares.  The acquisition completes a letter of intent signed by the parties on October 18, 2010.