SOURCE: Bioflamex Corp.

Bioflamex Corp.

July 03, 2012 08:45 ET

Bioflamex Corp. CEO Issues a Letter to Shareholders

COPENHAGEN, DENMARK--(Marketwire - Jul 3, 2012) -  Bioflamex Corp. (PINKSHEETS: BFLXE) CEO, Kristian Schiorring, today issued a letter to update shareholders on the current status and forward view of the company.

Dear Fellow Shareholders,

Current Status:

The company management would like to take the opportunity to inform our shareholders on the current state of affairs.

The Company is restating its financial statements for the year ended February 28, 2011 and quarters ended May 31, 2011, August 31, 2011 and November 30, 2011 to properly reflect previously unrecorded liabilities for various consulting agreements which were in effect during those periods.

The review of the filed 10-K is underway and the company has its team of accountants, auditors, and attorneys working to expedite the filing of the revised 10-K. This is scheduled to take place in the coming week.

Thus the current "e" status will be removed, and trading will commence on the OTCQB as soon as the revised 10-K is filed. 

Forward view:

The above-mentioned facts have not affected the operational work of the management, and the work to secure the appropriate sourcing and production agreements with key partners is still in its final processes.

Similarly, the company management is heavily engaged in developing its agent and distribution network, and company management will travel to Spain this week to meet with a key agent prospect for Bioflamex as well as the forest fire fighting solutions and the PurifyAir Escape Smoke hoods.

Other significant work is being conducted on funding and partnering, and the upcoming news releases will report the progress on such matters.

The prospects for concrete sales are still unaffected by recent events, and following summer industrial holidays, the first sales meetings will be effectuated.

Kristian Schiorring, CEO

FORWARD-LOOKING STATEMENTS: "Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements relating to the company's business activities and other statements in this press release are forward-looking statements within the meaning of the Securities Litigation Reform Act of 1995. Such statements are based on current expectations about the Company's business. Words such as expects, anticipates, intends, plans, believes, estimates and similar words and expressions are intended to identify such forward-looking statements. These statements involve risks that are difficult to evaluate. Actual results can vary from descriptions herein due to many factors including changes in metal prices and business conditions; changes in laws and regulations; problems encountered in exploration and obtaining permits; changes in the competitive environment; technological advances; shortages of skilled workers, drill rigs and equipment; the need for additional capital and other risks listed in the Company's Securities and Exchange Commission filings under "risk factors" and elsewhere. Forward-looking statements speak only as of the date they were made. The Company does not undertake any obligation to update forward-looking statements.

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