VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 1, 2006) - Pyng Medical Corp. (TSX VENTURE:PYT) is pleased to announce a dramatic expansion in our North American distribution network to capture sales opportunities resulting from recent emergency cardiac care guideline changes. These guideline changes were released in November 2005 by the International Liaison Committee on Resuscitation (ILCOR). This committee is a worldwide medical consortium that focuses on best practices for cardiac and stroke care. Before the November guideline changes, adult intraosseous intervention, including the F.A.S.T.1(TM), was implemented based on local practice and had no international sanction or approval. Now, with the guideline changes, the F.A.S.T.1(TM) has been recognized as a Class IIa intervention device, which practically assures that adult intraosseous intervention, including the F.A.S.T.1(TM), will become a standard of care in cardiac arrest...the leading killer in the developed world.
Pyng previously had three distributors in the United States with approximately a total of 65 sales professionals. With an aggressive reorganization of the Pyng's distribution model, we now have twelve US distributors having in excess of 140 sales professionals. Two of these US distributors are owned by two of the leading distributors into the hospital market. With the guideline changes previously mentioned, adult intraosseous access will also become a major intervention in hospital emergency departments and Pyng is poised to enter that market with the addition of these new distributors.
Dr. Richard Clinchy, Pyng's Director of Business Development commented, "Pyng Medical now has all the major emergency medical services distributors in the USA as partners selling the F.A.S.T.1(TM). This huge increase in our sales force coupled with planned marketing initiatives will significantly increase our sales results."
Among these planned initiatives is the first, Pyng Medical Corp.'s newsletter targeted at better communicating news regarding Pyng Medical Corp. to investors, partners and clients. Interested parties may subscribe here at http://www.pyng.com/newsletters.htm.
Safe Harbour Statement; Forward-Looking Statements: This release may contain forward-looking statements based on management's expectations, estimates and projections. All statements that address expectations or projections about the future, including statements about the Company's strategy for growth, product development, market position, expected expenditures and financial results are forward-looking statements. Some of the forward-looking statements may be identified by words like "expects", "anticipates", "plans", "intends", "projects", "indicates", and similar expressions. These statements are not guarantees of future performance and involve a number of risks, uncertainties and assumptions. Many factors, including those discussed more fully elsewhere in this release and in documents which may be filed with the British Columbia Securities Commission, the Alberta Securities Commission, the Ontario Securities Commission, the TSX Venture Exchange, as well as other USA Commissions, could cause results to differ materially from those stated. These factors include, but are not limited to changes in the laws, regulations, policies and economic conditions, including inflation, interest and foreign currency exchange rates, of countries in which the Company does business; competitive pressures; successful integration of structural changes, including restructuring plans, acquisitions, divestitures and alliances; cost of raw material, research and development of new products, including regulatory approval and market acceptance; and seasonality of sales in some products.
FOR FURTHER INFORMATION PLEASE CONTACT:
Pyng Medical Corp.
Kevin O'Neill
(604) 303-7964
www.pyng.com
