BROSSARD, QUEBEC--(Marketwire - Feb. 27, 2012) - Biotonix (2010) Inc. ("Biotonix") (TSX VENTURE:BTX), is pleased to announce that on February 27, 2012, it has entered into a final agreement with 9130-4519 Québec Inc., also known as The Atman Co. ("Atman"), with respect to the reverse takeover of Biotonix by Atman (see press release dated December 22, 2011).
The closing of the transaction, pursuant to which Biotonix will acquire all outstanding shares of Atman in consideration of the issuance of 15,000,000 consolidated shares and the payment of $150,000, is subject to a number of conditions, including financings by Biotonix and Atman for combined proceeds of $350,000, consolidation of the shares of Biotonix on the basis of one new share for each two shares outstanding, satisfactory due diligence by Biotonix and Atman and approval by disinterested shareholder and regulatory authorities.
It should be noted that the November 30, 2011 results of Atman show a net profit of $77,316 and not a loss of $19,232 as was incorrectly disclosed in the press release of December 22, 2011.
Biotonix (TSX VENTURE:BTX) offers innovative health solutions for posture correction and fitness using a web-based imaging software technology. For more information please visit www.biotonix.com.
Atman provides 6th generation psychometric testing solutions to enterprises seeking to maximize success in employee recruitment, job allocation and team building by scientifically matching each individual's character and talents to specific company needs. For more information please visit www.atmanco.com.
BIOTONIX'S FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements that reflect the Company's current expectation regarding future events. There is a risk that expectations and forward looking statements will not prove to be accurate. Readers are cautioned not to place undue reliance on these forward looking statements as they involve risks and uncertainties, which could make actual results differ materially from those projected herein and depend on a number of factors including, but not limited to, no history of profitability, future financing, intellectual property and patents, key personnel, competitive marketplace, technology obsolescence, share price volatility and other risks detailed from time to time in the Company's filings. While Biotonix anticipates that subsequent events and developments may cause its views to change, Biotonix specifically disclaims any obligation to update these forward looking statements, unless obligated to do so by applicable securities laws
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.