SOURCE: Image Globe Solutions, Inc.

December 06, 2005 16:07 ET

Image Globe Solutions, Inc. and Phoenix Biopharm, Inc. Agree to Cancel Transaction

TORONTO -- (MARKET WIRE) -- December 6, 2005 -- Image Globe Solutions, Inc. (OTC: IGSS) today announced that it and Phoenix Biopharm, Inc. have mutually agreed to terminate the Subscription Agreement previously announced between the two companies, as such, there are no further commitments remaining.

Image Globe Solutions is a development stage company which continues to seek out and develop strategic initiatives and investments designed to bring the company ongoing multiple revenue streams. Current initiatives include its previously announced development plans for sub-prime credit leasing, and its strategic investment in Nanonize Cutting Tools Corporation.

Certain statements in this press release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications that may arise could prevent the prompt implementation of any strategically significant plan(s) outlined above. The company cautions that these forward-looking statements are further qualified by other factors. The company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise.

Contact Information

    Paul Barry
    (905) 825-1200
    Image Globe Solutions, Inc.