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Contact:
| Media |
Investors |
| The
Torrenzano Group |
The
Quigley Corporation |
| Donald
W. Schuster |
Shareholder
Relations |
| (212)
681-1700 Ext. 103 |
(267)
880-1111 |
The Quigley Corporation Announces Stock Dividend of Suncoast
Naturals, Inc. Common Stock Acquired in Sale of Caribbean Pacific
Natural Products Subsidiary
DOYLESTOWN, PA, February 19, 2003 (BUSINESS WIRE) -- The Quigley
Corporation (Nasdaq: QGLY) today announced that its Board of
Directors had approved a distribution to its Shareholders of
approximately 500,000 Shares of Common Stock of Suncoast
Naturals, Inc., which it acquired through its recent sale of the
Company's 60% equity interest in Caribbean Pacific Natural
Products, Inc. The distribution of the Shares is contingent upon
and will take place upon the effectiveness of a Registration
Statement required to be filed by Suncoast with the U.S.
Securities and Exchange Commission and that the delivery of
Suncoast's stock to the Company and shares to be delivered to the
Company's shareholders be free trading without any restrictions.
Shares will be distributed on the basis of approximately .0436
Shares of Suncoast Common Stock for each Share of Quigley Common
Stock owned of record on March 6th 2003, rounded up to the next
whole Share.
In January, the Company completed the transaction with Suncoast,
headquartered in Orlando, FL, by exchanging Quigley's 60%
controlling interest in Caribbean Pacific Natural Products, Inc.
in exchange for 750,000 Shares of Common Stock and 100,000 Shares
of Redeemable Preferred Stock of Suncoast.
About
The Quigley Corporation
The Quigley
Corporation (NASDAQ: QGLY) is a leading developer and marketer
of diversified health products including the Cold-Eeze® family of patented zinc gluconate glycine (ZIGG(tm)) lozenges,
gums and sugar free tablets. Cold-Eeze is the only (ZIGG(tm))
lozenge proven in two double-blind studies to reduce the duration
of the common cold from 7.6 to 4.4 days or by 42%. In addition
to Over-The-Counter (OTC) products, the Company has formed
Quigley Pharma Inc. (www.QuigleyPharma.com), a wholly owned
ethical pharmaceutical subsidiary, to introduce a line of
patented prescription drugs. The Quigley Corporation's customers
include leading national wholesalers and distributors, as
well as independent and chain food, drug and mass merchandise
stores and pharmacies.
No claims are being made for the potential medicine discussed
in this press release to be safe, effective, or approved by
the Federal Food and Drug Administration (FDA).
Certain statements in this press release are "forward-looking
statements" within the meaning of the Private Securities
Litigation Reform Act of 1995 and involve known and unknown
risk, uncertainties and other factors that may cause the Company's
actual results, performance or achievements to be materially
different from the results, performance or achievements expressed
or implied by the forward-looking statement. Factors that
impact such forward-looking statements include, among others,
changes in worldwide general economic conditions, changes
in interest rates, government regulations, and worldwide competition.
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