MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--April 20, 2006--Reflect Scientific Inc. (the “Company”) (OTCBB: RSCF - News), an industry leader whose business is the manufacture, supply, and distribution of laboratory equipment and related supplies to the biotechnology, pharmaceutical and medical industries, announces the execution of an Agreement and Plan of Merger (the “Merger Agreement” and the “Merger”) under which it will acquire Cryomastor Inc., a California corporation (“Cryomastor”). Principal terms of the Merger require the Company to: (i) pay an aggregate of $700,000 to the Cryomastor shareholders, pro rata; (ii) advance $300,000 for the operations of Cryomastor; assume and pay a $300,000 debt of Cryomastor owed for a U.S. Patent that comprises its intellectual property within 90 days of the closing; and execute three-year employment agreements with Cryomastor’s current directors and executive officers. The Company is conducting a private offering of “restricted” common stock through a registered broker/dealer to “accredited investors” at $1.00 per share to fund this Merger, with a minimum offering of $1,000,000 by June 30, 2006, that is a condition of the closing of the Merger; accordingly, there can be no assurance that the Merger will be completed.
