Dermaxar Inc.

April 06, 2011 16:45 ET

DERMAXAR Issues Clarification Statement

TORONTO, ONTARIO--(Marketwire - April 6, 2011) - DERMAXAR INC. (PINK SHEETS:DRMX) has issued a formal clarification statement regarding an impending transaction to sell its subsidiary assets.

The company has received a large number of inquiries regarding an impending transaction, as it appears that Internet media and possibly print media have offered favourable advice to potential investors regarding purchasing the company's shares in the past few days.

There is indeed an impending transaction involving the sale of some of the company's subsidiary assets. However, it is extremely unlikely that the proceeds of any impending transactions will exceed the company's current debts and the company will likely still have significant liabilities following the closing of such transaction. Potential investors are warned that hyped communication is circulated in Internet and print mediums regarding the company and any investment decisions should not be based on such hyped information, as such information is not authorized or released by the company.

The company additionally announces the resignation of Mr. Brandon Truaxe from the positions of Director, President and CEO, as well as the resignation of Mr. Julio Alexis Torres Lopez from positions of Director and Vice President of Branding.

Questions regarding this release should be directed to

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