Pyng Medical Corp.

Pyng Medical Corp.

September 18, 2008 13:01 ET

Chief Executive of SFI Financial Group Joins Pyng Medical's Board of Directors

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 18, 2008) - Pyng Medical Corp. (TSX VENTURE:PYT) today announced that Mr. L. J. "Bud" Evans has been appointed to serve on the Company's Board of Directors.

Mr. Evans is President and Chief Executive Officer of the SFI Financial Group. He is a former Chairman of the White House Cabinet Council Committee on Technology Commercialization, a former Member of the National Research Council Applications Board and a former Director of NASA Commercial Technology. Mr. Evans was also a Senior Executive at the White House, the National Aeronautics and Space Administration, and the Nuclear Regulatory Commission. Mr. Evans holds a B.A. in Economics from Colby College and a J.D. from Cornell University.

"I am pleased to join Pyng Medical at this exciting time in the Company's development and commercialization," stated Mr. Evans. "With sustained growth in revenue from sales of the Company's lead clinical product and the recent acquisition of several additional market-leading products, Pyng is uniquely positioned to significantly grow market share in the trauma and resuscitation space."

"Bud is a tremendous addition to our Board of Directors with a proven track record of successfully introducing emerging technologies into the international medical and defense markets," stated David Christie, President and CEO. "His corporate finance expertise combined with extensive experience collaborating with government and the private sector will assist the Company in meeting its ambitious growth-oriented business objectives."

About Pyng Medical Corp.

Pyng Medical Corp. commercializes award-winning trauma and resuscitation products for front-line critical care personnel. Creators of the FAST1® Intraosseous Infusion System, Pyng's expanded product portfolio includes a variety of innovative, lifesaving tools. With growing markets in North America, Europe and Asia, Pyng offers user-preferred medical devices for use by hospital staff, emergency medical services and military forces worldwide. Pyng has received the exclusive 2008 Medical Device Company of the Year Award from Life Sciences British Columbia for its sustained achievements in commercializing the Company's proprietary FAST1®, the only medical device able to provide rapid sternal access for administering drugs and fluids to the heart in seconds. The Company was also selected in the "2007 TSX Venture 50" Top 10 companies in Life Sciences based on solid financial metrics for the year ending December 31, 2006.

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.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Pyng Medical Corp.
    David Christie
    (604) 303-7964