TORONTO, June 1 /PRNewswire-FirstCall/ -- Med-Emerg International Inc. (OTC BB: MDER-MDERW) announced today it has commenced the closing of the equity investment in Med-Emerg by a group of Canadian and overseas investors, substantially as disclosed in its press release on January 13, 2004.
The transaction is currently in escrow pending the receipt and release of all relevant documentation and the repurchase by Med-Emerg of 500,000 issued and outstanding preferred shares. Med-Emerg has finalized negotiations regarding this purchase and anticipates that the formal documentation will be completed forthwith.
MEII specializes in the coordination and delivery of emergency and primary health care related services in Canada. These services include physician and nurse staffing and recruitment, clinical management services, the development and management of urgent care centres, a national drug infusion service, and a comprehensive physician practice management program.
Certain oral and written statements of the management of the Company included in this press release may contain forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, and Section 21E of the U.S. Securities Exchange Act of 1934. These forward-looking statements, include statements about the Company’s marketing strategy, future sales growth, profitability, competitive position, and release of new products. The words “plan”, “expect”, “believe”, “intend”, “anticipate”, “forecast”, “target”, “estimate” and similar expressions identify forward-looking statements. Forward-looking statements are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. The Company does not undertake to review or update these forward-looking statements
Med-Emerg International Inc.
CONTACT: Ramesh Zacharias, Chief Executive Officer,Med-Emerg International Inc., Tel: (905) 858-1368, Email:rzacharias@med-emerg.com