EXHIBIT 99.1
QUIGLEY
Contact:
David K. Waldman/John W. Heilshorn Carl Fonash
Lippert Heilshorn & Associates The Quigley Corporation
(212) 838-3777 (267) 880-1111
dwaldman@lhai.com
THE QUIGLEY CORPORATION DECLARES A STOCK DIVIDEND OF SUNCOAST NATURALS,
INC. COMMON STOCK ACQUIRED IN ITS SALE OF
CARIBBEAN PACIFIC NATURAL PRODUCTS SUBSIDIARY
DOYLESTOWN, PA. - JULY 30, 2004 - 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. (OTC BB:SNTL), which it acquired through a sale of the Company's
60% equity interest in Caribbean Pacific Natural Products, Inc.
These shares will be distributed on the basis of approximately .0434 shares of
Suncoast common stock for each share of The Quigley Corporation's common stock
owned of record on September 1, 2004, with fractional shares paid in cash.
In January 2003, the Company completed the transaction with Suncoast,
headquartered in West Palm Beach, FL, by exchanging the Company'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.
The Quigley Corporation (Nasdaq: QGLY, http://www.Quigleyco.com) is a leading
developer and marketer of diversified health products including the COLD-EEZE(R)
family of patented zinc gluconate glycine (ZIGG(TM)) lozenges and sugar free
tablets. COLD-EEZE is the only (ZIGG) 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. (http://www.QuigleyPharma.com), a wholly owned ethical
pharmaceutical subsidiary, to introduce a line of naturally derived 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. The Quigley Corporation makes no
representation that the U.S. Food and Drug Administration or any other
regulatory agency will grant an IND or take any other action to allow the
aforementioned products to be studied or marketed. Furthermore, no claim is made
that the potential medicine discussed here is safe, effective, or approved by
the Food and Drug Administration.
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 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.