FMX Ventures Inc. formerly Footmaxx Holdings Inc.

FMX Ventures Inc. formerly Footmaxx Holdings Inc.

August 18, 2007 13:24 ET

Footmaxx Provides Update on Proposed Acquisition

TORONTO, ONTARIO--(Marketwire - Aug. 18, 2007) - After forming a special committee which considered and evaluated various alternatives to repay or refinance its outstanding convertible debentures, Footmaxx Holdings Inc. (TSX VENTURE:FMX) announced in late June, 2007 that it had entered into a non-binding indication of interest and had agreed to negotiate exclusively with one of the interested parties for a period of 45 of days in connection with the proposed acquisition of all the assets and associated liabilities of the Company (other than the outstanding convertible debentures). As the due diligence process has taken longer than initially anticipated, Footmaxx has agreed to extend the exclusivity period until August 31, 2007 in order to provide the interested party and Footmaxx sufficient time to finalize a definitive asset purchase agreement. There can be no assurance that an acceptable binding agreement will be made for the sale of the assets of the Company or in any similar transaction.

The Company intends to make no further announcements or comments unless and until the circumstances so warrant.

Forward-looking Statements

This release may contain projections and other forward-looking statements regarding future events. Such statements are predications involving known and unknown risks, uncertainties and other factors that may cause the actual events or results to be materially different. Although the Company believes that the forward-looking statements contained herein are reasonable, it can give no assurance that the Company's expectations are correct. For information concerning factors affecting the Company's business, the reader is referred to the documents that the Company files from time to time with applicable Canadian securities and regulatory authorities.

Footmaxx produces and globally markets high quality, state-of-the-art orthopaedic devices and products. Footmaxx's diagnostic system and proprietary software provides detailed information which enable clinicians to further evaluate patients for certain for knee, hip, lower back and bio-mechanical problems. For more information on Footmaxx visit:

Number of Common Shares issued to date - 41,131,205

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