The latest news from academia, regulators
research labs and other things of interest
Posted: January 24, 2008
Nano Chemical Systems Inc. Announces Letter of Intent to Acquire Calgenex Corporation
(Nanowerk News) Nano Chemical Systems Holdings, Inc. (Pink Sheets:NCSH), ("Nanochem" or "The Company") announced today that it has entered into a Letter of Intent with Calgenex Corporation ("Calgenex") for the acquisition of Calgenex by Nanochem. Calgenex develops and markets novel, patented or patent pending, condition specific dietary supplements and topical over-the-counter (OTC) drugs and personal care products. The products are scientifically formulated to help treat a variety of acute and chronic conditions. The products are marketed direct to physician resellers throughout the United States. In addition, the Company markets direct to consumers over the internet.
"We are excited about the opportunity to bring a dynamic, market and scientific based company like Calgenex into Nanochem," stated Alex H. Edwards III, Nanochem's CEO. "They are seeking solutions for specific health conditions affecting the aging baby boomer population like Soft Tissue Calcification, Cholesterol, Osteoporosis, Psoriasis, and Eczema. These conditions represent an ever expanding part of healthcare expenditures," concluded Edwards.
"The move to the public marketplace has always been in our long term plans," stated Grant Carlson, Calgenex president & CEO. "The increased access to capital, as well as the opportunity to create tremendous shareholder value, make the move into Nanochem a perfect fit."
Forward Looking Statements:
Certain statements in this release and other written or oral statements made by or on behalf of the Company are "forward looking statements" within the meaning of the federal securities laws. Statements regarding future events and developments and our future performance, as well as management's expectations, beliefs, plans, estimates or projections relating to the future are forward-looking statements within the meaning of these laws. The forward looking statements are subject to a number of risks and uncertainties including market acceptance of the Company's services and projects and the Company's continued access to capital and other risks and uncertainties outlined in its filings with the Securities and Exchange Commission, which are incorporated herein by reference. The actual results the Company achieves may differ materially from any forward-looking statements due to such risks and uncertainties. These statements are based on our current expectations and speak only as of the date of such statements.
For more information on Nano Chemical Systems Holdings visit: http://www.nanochemicalsystems.com or http://www.calgenex.com.