Cryopak Industries Inc.
TSX VENTURE : CYK

Cryopak Industries Inc.

March 27, 2006 09:00 ET

Cryopak Retains Financial Advisors

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 27, 2006) - Cryopak Industries Inc. (TSX VENTURE:CYK) today announced that its Board of Directors has retained PricewaterhouseCoopers Corporate Finance Inc. to explore various strategic alternatives to maximize shareholder value including, but not limited to, a capital structure review, strategic partnerships, and/or business combinations.

There is no assurance that the Company will enter into or consummate any specific strategic or financial transaction as a result of this decision. Cryopak does not plan to make any future comments on this process unless there are material developments.

"The Board of Directors is committed to maximizing value for its shareholders and feels that now is the appropriate time to explore strategic alternatives," stated Mr. Martin Carsky, President and CEO of Cryopak. "Cryopak has long been regarded as the market leader amongst Canadian retailers and consumers for quality reusable ice substitutes, and over the past two years has established a leading position in the pharmaceutical package segment of the market," added Mr. Carsky.

About PricewaterhouseCoopers Corporate Finance Inc.

PricewaterhouseCoopers Corporate Finance Inc. in Canada ("PwCCF"), is a member firm of the worldwide PricewaterhouseCoopers LLP ("PwC") organization. PwCCF has extensive experience in providing advisory services to companies in the areas of corporate finance, mergers and acquisitions, and restructuring. PwCCF, and its network of member firms within PwC, are consistently ranked as one of the top global mid-market corporate finance advisors both in terms of number of transactions and dollar volume. Leveraging PwC's extensive network of corporate finance professionals and clients around the globe, PwCCF has successfully assisted numerous clients in completing domestic and cross-border transactions across a wide variety of industries including technology and its related sub-sectors, and consumer and industrial products. For more information, please visit www.pwc.com.

About Cryopak

With ISO 9001:2000 certified facilities in Vancouver and Montreal, we are a leading provider of temperature-controlling products and solutions serving global pharmaceutical companies, as well as fine North American retailers and consumer goods companies. In our pharmaceutical business we engineer solutions and supply products that help our customers safely transport their temperature sensitive vaccines. In our retail business, we develop, manufacture and sell reusable ice substitutes, flexible hot and cold compresses, reusable gel ice and instant hot and cold packs. These products are marketed under such popular brand names as Ice-Pak™, Flexible Ice™ Blanket, Simply Cozy®, and Flex Pak™. We also manufacture these same products under private label for many well-known consumer goods companies. Our shares are listed on the TSX Venture Exchange under the symbol CYK. For more information about Cryopak, please visit our website address at: www.cryopak.com.


Contact Information

  • Cryopak Industries Inc.
    Martin Carsky
    President and CEO
    1-800-667-2532
    www.cryopak.com
    or
    PricewaterhouseCoopers Corporate Finance Inc.
    Randy Garg, CFA
    Technology Practice Leader (Western Canada)
    (604) 806-7081
    www.pwc.com