SAMSON HEALTHCARE CORP ("SHZ-V") REMOTE UTILITIES NETWORK INC ("RMUN-L") - Samson Announces Consolidation Partner, Remote Utilities Network Calgary, Alberta June 19, 2001 - Tom Charlton, President of Samson Healthcare Corp. ("Samson") reports the Company has entered into a Letter of Intent with Remote Utilities Network Inc. ("Remote"), an OTC:BB listed company, to assist Samson in implementing the US consolidation component of its strategic business plan.
Remote will assist in the funding of future acquisitions and provide Samson with greater access to the US public equity and finance markets. Tom Charlton, President of Samson explains, "under special circumstances whereby Samson has identified a potential acquisition and due to current local market conditions can not act expeditiously, Remote will initiate the acquisition on behalf of Samson."
In return, Samson has agreed to promote, market and supply distribution for Remote's "Mediceye" Technology, a complimentary division to Remote's existing "Autoeye Technology". Mediceye is being developed as a remote wireless technology for use in the Medical field, specifically for application in Home Care and Nursing Homes for patient monitoring, utilizing "streaming real-time video" and high speed internet. "Mediceye" is anticipated to be completed and ready to market by the end of the third quarter of 2001. Remote believes there is a developing need for remote patient monitoring, primarily in the United States where, the 65 and older segment represented just under 13% of the total U.S. population and accounted for an estimated 40% of total healthcare expenditures in 1998. (Source: Standard and Poors September 14, 2000 / Healthcare: Products and Supplies Industry Survey).
David Phan, President of Remote stated, "Remote wishes to position itself to take advantage of the changing trends in the North American Healthcare industry, and is currently exploring different avenues to promote the technology. The association with Samson will give us both, hands on insight into the industry and distribution channels for our technology. We look forward to furthering a strategic business relationship with Samson". Samson Healthcare Corp. is a Calgary based company focusing on the consolidation of the retail and wholesale home healthcare industry. The Corporation carries on business in the home health care industry through its wholly owned subsidiaries, Healthcare & Rehab Specialties, Ammundsen Healthcare & Rehab, Endo-Med Inc. and Okanagan Medical Supplies.
Samson Healthcare Corp. shares trade on the Canadian Venture Exchange under the symbol "SHZ". The Corporation's website can be found at www.samson-hc.net. TEL: (514) 939-3989 Renmark Financial Communications
Stephen Smart EMAIL: ssmart@renmarkfinancial.com Barry Mire EMAIL: bmire@renmarkfinancial.com John Boidman EMAIL: jboidman@renmarkfinancial.com TEL: (403) 252-8911 Tom Charlton, President and CEO EMAIL: tom@samson-hc.com
Remote Utilities Network is a Calgary, Alberta-based, publicly traded company please visit the Company's website at www.runcorp.com for further information.
In conjunction with the provisions of the Safe Harbor section of the Private Securities Litigation Reform Act of 1995, this news release may contain forward-looking statements pertaining to future anticipated projected plans, performance and developments, as well as other statements relating to future operations. All such forward-looking statements are necessarily only estimates of future results and there can be no assurance that actual results will not materially differ from expectation. Further information on potential factors that could affect Remote Utilities Network, Inc. is included in the Company’s filings with the Securities and Exchange Commission.
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