VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan 17, 2013) - Pyng Medical Corp. (TSX VENTURE:PYT) (the "Company") has been informed by Excelera Corporation ("Excelera"), an existing shareholder of the Company, that it intends to make a cash tender offer for a majority of the outstanding common shares of the Company it does not currently own. Excelera currently holds a 17.7% interest in the Company.
The price at which such a bid may be made has not been disclosed to the Company. In anticipation of such a bid, the Company has established a special committee comprised of three independent directors.
Shareholders should note that there is no assurance at this time that any bid will be made. Further announcements will be made if and when circumstances so require.
About Pyng Medical Corp.
Pyng Medical Corp. commercializes award-winning trauma and resuscitation products for front-line critical care personnel. Pyng''s expanded product portfolio includes a variety of innovative, lifesaving tools. With growing markets in North America, Europe and Asia, Pyng offers user-preferred medical devices for use by hospital staff, emergency medical services and military forces worldwide.
More information about the Company is available on SEDAR at www.sedar.com under the Company''s profile and on its website: www.pyng.com.
Safe Harbour Statement; Forward-Looking Statements: This release may contain forward-looking statements based on management''s expectations, estimates and projections. All statements that address expectations or projections about the future, including statements about the Company''s strategy for growth, product development, market position, expected expenditures and financial results are forward-looking statements. Some of the forward-looking statements may be identified by words like "expects", "anticipates", "plans", "intends", "projects", "indicates", and similar expressions. These statements are not guarantees of future performance and involve a number of risks, uncertainties and assumptions. Many factors, including those discussed more fully elsewhere in this release and in documents which may be filed with the British Columbia Securities Commission, the Alberta Securities Commission, the TSX Venture Exchange, as well as other USA Commissions, could cause results to differ materially from those stated. These factors include, but are not limited to changes in the laws, regulations, policies and economic conditions, including inflation, interest and foreign currency exchange rates, of countries in which the Company does business; competitive pressures; successful integration of structural changes, including restructuring plans, cquisitions, divestitures and alliances; cost of raw material, research and development of new products, including regulatory approval and market acceptance; and seasonality of sales in some products.
Pyng Medical Corp.
Chief Financial Officer