VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - June 20, 2007) - Pyng Medical Corp. (TSX VENTURE:PYT) has been selected as one of the "2007 TSX Venture 50", a ranking of the top 10 Canadian public venture capital companies in 5 industry sectors listed on TSX Venture Exchange. The 10 finalists chosen in each industry sector- life sciences, mining, oil & gas, technology and diversified industries-were selected by a New York-based market research firm based on revenue, return on investment, trading volume and market capitalization growth for the year ending December 31, 2006.
"We are very proud to be recognized for this award from a field of 629 qualifying companies. These are very exciting times for those involved with Pyng Medical Corp.," said David Christie, President and Chief Executive Officer. "This recognition confirms the growing awareness and demand for the FAST1(TM) Intraosseous Infusion System and reaffirms that we are moving into the mainstream with this innovative, life saving device".
Pyng Medical revenue for fiscal 2006 was $3 million which was an increase of 55% over a two year period from 2004. The company also reported net profits for fiscal 2006 and 2005 resulting in a positive cash flow with no debts outstanding. Complete financial reports are available on www.sedar.com.
Full details of the 2007 TSX Venture 50 has been issued in The Globe and Mail, News Network and is also available at www.globeandmail.com.
About Pyng Medical Corp.
Pyng Medical Corp. is a world leader in intraosseous infusion with its proprietary, award-winning FAST1(TM) Intraosseous Infusion System, the only device able to provide rapid sternal access and delivery of life saving fluids and drugs to the heart of critically injured patients within seconds. The FAST1(TM) is used extensively by the U.S. Department of Defense and by Emergency Medical Services around the globe.
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.
David Christie
(604) 303-7964
Website: www.pyng.com
