DRM Ventures Inc.
TSX VENTURE : DRM

November 22, 2011 17:42 ET

DRM Ventures and Patient Home Monitoring Announce Closing of Qualifying Transaction

SAN FRANCISCO, CALIFORNIA and TORONTO, ONTARIO--(Marketwire - Nov. 22, 2011) - Patient Home Monitoring ("PHM") (TSX VENTURE:PHM), a company focused on in-home cardiology disease management services, and DRM Ventures Inc. ("DRM") (TSX VENTURE:DRM), a capital pool company, are pleased to announce that, subject to issuance of a Final Exchange Bulletin by the TSX Venture Exchange (the "Exchange"), DRM has completed its Qualifying Transaction.

On October 6, 2011 DRM purchased 4,264,706 common shares of PHM at a price of $0.164137926 per share for aggregate gross proceeds to PHM of $700,000. On November 15, 2011 Computershare Investor Services Inc., the transfer agent for PHM, distributed the 4,264,706 common shares of PHM acquired by DRM to the shareholders of DRM (as of the record date (August 22, 2011)) on a pro-rata basis as a return of capital.

Each shareholder of DRM (as of the record date) received 0.6511 shares of PHM for every one share of DRM held (as of the record date). Of the 4,264,706 common shares of PHM distributed to the shareholders of DRM, 1,009,205 have been deposited in escrow with Computershare.

The common shares of DRM will be delisted from the Exchange and DRM will complete a voluntary dissolution in the next few weeks.

Including the issuance of shares detailed in this news release, there are currently 64,419,086 shares of PHM issued and outstanding.

Further information about PHM and DRM, including a copy of DRM's management information circular dated September 6, 2011 in connection with the Qualifying Transaction, can be found online at www.sedar.com.

About PHM

PHM is a healthcare services company focused on providing home-based monitoring services and supplies for cardiology patients. PHM's entry-point service monitors patients on blood thinner medications such as Coumadin® or warfarin. Medicare recently expanded reimbursement for this in- home service. PHM has a unique value proposition to cardiology groups that manage patients on blood thinners, focusing on systemization to enroll patients in PST. This unique, systemized approach creates an opportunity for physician groups to operate more efficiently, increasing revenue to their clinic while providing a higher standard of care for patients. PHM plans to lever its position as a value-added service provider to expand into other home-based services for these patients and their referring physicians.

Completion of the transactions is subject to final approval of the TSX Venture Exchange.

Information in this news release that is not current or historical factual information may constitute forward-looking information within the meaning of securities laws. Implicit in this information, particularly in respect of the future outlook of PHM and DRM and anticipated events or results, are assumptions based on beliefs of PHM's and DRM's senior management as well as information currently available to it. While these assumptions were considered reasonable by PHM and DRM at the time of preparation, they may prove to be incorrect. Readers are cautioned that actual results are subject to a number of risks and uncertainties, including the availability of funds and resources to pursue operations, decline of reimbursement rates, dependence on few payors, possible new drug discoveries, a novel business model, dependence on key suppliers, granting of permits and licenses in a highly regulated business, competition, low profit market segments as well as general economic, market and business conditions, and could differ materially from what is currently expected.

Neither the 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.

Contact Information

  • Stanmore Capital Partners, Inc.
    Michael Dalsin
    Managing Director
    +1(323) 253-3055
    mpd@stanmorecap.com