NIR Diagnostics to Seek Mediation with Shaklee Corporation Over Prototype Success Fee Payment
CAMPBELLVILLE, ON, Sept. 11 /CNW/ - NIR Diagnostics Inc. (TSX Venture:
NID), a leading-edge developer of near-infrared medical instruments, today
announced that Shaklee Corporation of Pleasanton, California, advised NIR
Diagnostics on September 8, 2007 that it is Shaklee's position that the
conditions were not met that would entitle NIR Diagnostics to a $1,000,000
success fee in connection with the delivery of the in-vivo food supplement
prototype device using NIR Diagnostics' proprietary infrared technology, as
stipulated in the strategic alliance agreement announced on August 9, 2006.