Southern Products, Inc. Announces Settlement Of Lawsuit With Zhuhai Yuehua Electronic Co., Ltd.

ORANGE COUNTY, Calif., June 10, 2013 /PRNewswire/ -- Effective May 20, 2013, Southern Products, Inc. (OTCQB: SNPD), a manufacturer of flat-panel televisions, tablets, and electronic picture frames, announced its agreement for the settlement of all claims and disputes between it and Zhuhai Yuehua Electronic Co., Ltd, a supplier of flat panel televisions.  Zhuhai agreed to dismiss its lawsuit against SNPD and SNPD agreed to dismiss its claims against Zhuhai in exchange for SigmacUSA, Inc., a wholly owned subsidiary of SNPD, paying Zhuhai a percentage of its net collections and equity raises received over the coming year.

Ed Meadows, CEO of Southern Products stated: "We are happy to have worked this issue out with Zhuhai.  This, along with similar arrangements we have worked out in the last few months with former suppliers should clear the way for us to ramp up production and sales much faster in 2013."

On May 31, 2013, Zhuhai filed a request for dismissal with prejudice of its claims pending in the Superior Court of California, County of Los Angeles against SNPD, its subsidiary Sigmac USA, Inc. and its CEO Edward Meadows. 

About Southern Products, Inc.

Southern Products, DBA Sigmac USA, is a manufacturer of quality, mid-priced flat-panel televisions and peripherals for distribution through big-box retailers in the US as well as the major Etailers.  The Company currently has a product line of over 20 flat-panel models in production, and has entered into large-scale distribution agreements with Target, K-Mart, Costco.com, Tiger Direct, Newegg and Walmart.com for the sale of Sigmac-branded flat-panel televisions, Tablets, Picture Frames and accessories in North America. The Company is a fully-reporting public consumer electronics company incorporated in the state of Nevada and trading on the Over-the-Counter Bulletin Board in the US (OTCQB: SNPD).

For further information please visit www.sigmacusa.com.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to a number of risks, uncertainties and assumptions, including those identified under "Risk Factors" in the Company's most recently filed Annual Report on Form 10-K, Quarterly Report on Form 10-Q and in other filings made with the Securities Exchange Commission. Actual results may differ materially from those contemplated by these forward-looking statements and the Company does not undertake to update any of these forward-looking statements to reflect a change in its views or events or circumstances that occur after the date of this press release.

Media Contact
Edward Meadows
Email:  [email protected]
Phone: 866-236-8701 x 3

SOURCE Southern Products, Inc.