Migami, Inc. Agrees to Sell Part of Its Manufacturing Rights to InnoZen's Bi-Layer Film Technology to Zen Universal, Inc. for $2.5 Million

Business Wire, Dec 27, 2006

LOS ANGELES -- Migami, Inc. (OTCBB:MIGA) agrees to sell part of its rights to manufacture edible film strips using InnoZen, Inc.'s bi-layer film technology to Zen Universal, Inc. for $2.5 million. The deal would give Migami necessary capital to build a state-of-the-art manufacturing facility for InnoZen's bi-layer film technology. Management estimates that it will take approximately a year to build a manufacturing facility. In the interim, Migami intends to fulfill its edible film strip product orders with InnoZen at its current manufacturing facility in Woodland Hills, California to accommodate the order quantity from Zen Universal, Inc.

Once Migami's manufacturing facility is completed, the ownership of the plant will be 51% Migami, and 49% Zen Universal, Inc. Zen Universal wanted to have a large ownership stake in the plant to make sure there will be enough capacity to accommodate its orders. Zen Universal, Inc. is currently in the negotiation with a very large pharmaceutical distribution company in Europe for its Vitamin and Supplement line.

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