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Posted: February 13, 2008
Nano Chemical Systems Holdings and Calgenex Provide Merger Update
(Nanowerk News) Nano Chemical Systems Holdings, Inc. (Pink Sheets:NCSH), ("NanoChem" or "The Company") and Calgenex Corporation ("Calgenex"), a developer and marketer of novel, patented or patent pending, condition specific dietary supplements and topical over-the-counter (OTC) drugs and personal care products, today provided an update on their upcoming merger, which the companies expect to complete on or around February 29, 2008. Simultaneous with the completion of the merger, the companies also expect to announce a new chief executive officer to lead the newly combined company. After the transaction, the combined entity will do business as Calgenex Corporation and trade on the OTC: Pink Sheets Exchange.
“We were very pleased to announce the signed Letter of Intent to merge NanoChem and Calgenex,” stated Jeff Roman, NanoChem’s interim CEO. “The management team and NanoChem’s Board have assessed acquisition targets over the past several months as we began a process to evaluate businesses serving growing markets.”
The aging baby boomer population represents one of the largest consumer groups in the U.S. Boomers are currently 42-60 years old with generally high disposable income. There is increasing concern within this group to maintain and enhance a healthy and active adult lifestyle and to ward off the disease and the aging process. Older boomers are likely to have health concerns, including heart disease, cancer, diabetes, arthritis, Alzheimer’s disease, osteoporosis, prostate and eye diseases.
During this process, the Company identified Calgenex Corporation. Calgenex has developed science based products addressing specific health conditions affecting the aging Baby Boomer population, such as cholesterol, heart disease and soft tissue calcification or calcium deposits. Calcium buildup in arteries is an early warning sign of increased risk of coronary heart disease. People with higher arterial calcium levels are more likely to develop atherosclerosis, stroke and other heart ailments later in life than those with normal levels. In fact, some researchers and physicians now argue that degree of calcification is a more important risk factor for heart disease than cholesterol.
Calgenex currently sells their products direct to consumers over the web. While this business has grown steadily, their strategy, among other things, is to set-up a network of physician resellers. Physician resellers purchase products from the Company and then market out of their office. Calgenex is in the process of building their physician advisory boards and their sales force of independent representatives and distributors.
Grant Carlson, President & CEO of Calgenex, said, "This transaction provides greater access to capital, which will help us as we grow our sales and marketing operations. We believe the combination of our innovative healthcare products, catalysts for top and bottom-line growth, and cost savings from the merger hold lasting value for Calgenex."
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 visit http://www.calgenex.com.