Reverse Merger for Auri and Wellstone (OTC:WFSN)

Laguna Beach-based Auri Design Group, LLC – dba Auri Footwear – announced today that it has taken control of publicly traded company Wellstone Filter Sciences, Inc. (OTCBB: WFSN) via a reverse merger. Shares of Wellstone Filter Services closed on Friday, February 25, 2011 at $0.35 per share and has a market cap of $33 million.

The agreement closed February 25, 2011 and resulted in Auri Footwear becoming a public company. The name of the company will be changed to “Auri, Inc.” As a result of the reverse merger, the previous owners of Auri now own and control the majority of the common stock of Wellstone Filter Sciences, replacing the current management with an Auri management team. Auri CEO and President Ori Rosenbaum will remain with the company in the same role. Auri selected a reverse merger rather than a traditional IPO in order to avoid the heavier costs and extended timeframe usually associated with a traditional IPO process.

“We believe this company is poised for the type of growth that would simply outpace an organically funded venture of this scale,” stated Ori Rosenbaum, CEO and President of Auri. “Our products and brand positioning are spot-on and with access to the public markets, we hope to be able to take advantage of opportunities and execute strategic growth initiatives that we’ve previously had to pass up.”

“It’s a great day for our shareholders,” stated Wellstone’s CEO L. Jeremiah Hand. “Auri is an incredible brand that has the potential to revolutionize the footwear industry. The products have already proven to be highly successful at retail and we are very impressed with Auri’s management team.”

Auri designs and markets fashion footwear for men and women, fused with performance engineering, innovative designs and advanced technical materials. Crafted with Italian leathers and hand burnished finishes, the products incorporate a seamless fusion of next level technologies including active suspension systems, compression control and anti-fatigue, removable foot beds, Outlast temperature regulating linings, Liquicell ultra-thin liquid-filled interface technology, and encapsulated gel technologies.

Distributed by IntelBuilder Social Media Platform