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SOURCE Leatt Corporation
Potential for use as Medical Device in Europe
CAPE TOWN, South Africa, June 17, 2014 /PRNewswire/ -- Leatt Corporation (OTCQB: LEAT), a developer and marketer of protective equipment and ancillary products for all forms of sports, especially extreme high-velocity sports, including the award winning Leatt-Brace®, announced today that its new 3-point knee brace will be in stores and available for sale during the third quarter of 2014.
The knee brace is designed to be used by those participating in off road motorcycling but also has application in high-velocity winter sports, such as skiing and snowboarding. The Company believes that it also has the potential to be used as a medical device. The Company said that it plans to have the knee brace cleared as a medical device in Europe, and has plans to explore its use in conjunction with medical procedures in the United States, subject to clearance with the relevant US regulatory agencies as necessary.
CEO Sean Macdonald said, "We believe the introduction of the knee brace will be a watershed event for our Company. Clearing it as a medical device would potentially open up entirely new markets around the world for the sale of our products to non-athletes as an orthopedic brace in a variety of applications.
"The knee brace design is groundbreaking and reflects the input of one of the most respected orthopedic surgeons in South Africa. An entirely new approach to knee bracing and protection, the knee brace has none of the pinching and discomfort that older-style knee braces have. It supports the knee completely while having only three points of contact instead of four. We believe our 3-point force distribution will help prevent meniscus, MCL and ACL injuries better than other designs. It has no contact whatsoever with the knee on the inside.
"Anyone who skis or has ever had to wear a brace in the past will appreciate how much better this design is, and how much of a difference it will make. Dr. Chris Leatt, working with his team of engineers, has come up with an innovative design to help further reduce injuries over what traditional cage type knee brace designs can do."
The company first unveiled the knee brace at the ISPO Munich show in January. The ISPO is the largest trade show in the world, with 2,565 international exhibitors presenting their latest products from outdoor, ski, action and performance sports gear to over 80,000 visitors from more than 110 countries.
Mr. Macdonald added, "The ISPO was a great forum for Leatt to shine. Our new knee brace attracted a lot of attention, and we believe that its unique design has positioned it as a major advance in the field. We can't wait to get it into the stores."
About Leatt Corporation
Leatt Corporation develops and sells protective equipment and ancillary products for all forms of sports, especially extreme high-velocity sports. The Leatt-Brace® is an award-winning neck brace system considered to be the gold standard in neck protection for anyone wearing a crash helmet as a form of protection. The latest generation of the Leatt-Brace, the Five.Five neck brace, is also designed for participants in high-velocity sports such as motorcycling, bicycling, mountain bicycling, driving all-terrain vehicles, snowmobiles and other vehicles, and has potential applications in any downhill or freestyle high-velocity sports. For more information, visit: www.leatt-corp.com | www.leatt.com
This press release may contain forward-looking statements regarding Leatt Corporation (the "Company") within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact included herein are "forward-looking statements" including statements regarding: the demand for the Company's innovative new products; the general ability of the Company to achieve its commercial objective, including the likelihood that the Company will obtain CE and US regulatory clearance of the knee brace for medical use; the business strategy, plans and objectives of the Company and its subsidiaries; and any other statements of non-historical information. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects," "anticipates," "seeks," "should," "could," "intends," or "projects" or similar expressions, and involve known and unknown risks and uncertainties. These statements are based upon the Company's current expectations and speak only as of the date hereof. Any indication of the merits of a claim does not necessarily mean the claim will prevail at trial or otherwise. Financial performance in one period does not necessarily mean continued or better performance in the future. The Company's actual results in any endeavor may differ materially and adversely from those expressed in any forward-looking statements as a result of various factors and uncertainties, which factors or uncertainties may be beyond our ability to foresee or control. Other risk factors include the status of the Company's common stock as a "penny stock" and those listed in other reports posted on The OTC Markets Group, Inc.
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