PharmEng International Inc.
TSX VENTURE : PII

PharmEng International Inc.

July 09, 2007 16:14 ET

PharmEng Announces Changes to the Board of Directors and the Appointment of a New Chairman and Auditors

TORONTO, ONTARIO--(Marketwire - July 9, 2007) - PharmEng International Inc. (TSX VENTURE:PII), a full-service consulting and contract manufacturing company, is pleased to announce the appointment of Edgar (Ed) Parker to its Board of Directors and replaces David Coffin-Beach who did not stand for re-election at the Annual General Meeting ("AGM") held on June 22, 2007. Ed was also elected Chairman of the Board at the AGM. Alan Kwong, President of PharmEng, extends his appreciation for David's contributions as a Board member and welcomes the experience that Ed brings through a work history in pharmaceutical operations, marketing and distribution in Atlantic Canada.

At the AGM, Mintz & Partners, Charter Accountants ("Mintz") were appointed as the Company's new independent auditors replacing the firm of Lipton Wiseman Altbaum & Partners LLP ("Lipton") commencing with the year ending December 31, 2007.

The decision to change auditors was not the result of any disagreement between the Company and Lipton on any matter of accounting principals or practices, financial statement disclosure or auditing scope or procedure.

About PharmEng International Inc.

PharmEng International Inc., headquartered in Toronto, Canada, is a full-service consulting and contract manufacturing company that serves the pharmaceutical and biotechnology industries in North America and internationally. Consulting services include project management, engineering, GMP, validation, calibration, regulatory compliance and certified training. Contract manufacturing includes pharmaceutical support, formulation development, laboratory testing, and finished solid dosage and liquid products. PharmEng's shares trade on the TSX Venture Exchange under the symbol PII. For more information about PharmEng, please visit the Company's website at www.pharmeng.com.

FORWARD LOOKING STATEMENTS

Certain statements in this press release may include "forward-looking" statements which involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements of PharmEng to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. When used in this press release, such statements use such words as "may", "will", "expect", "anticipate", "project", "believe", "plan", and other similar terminology. The risks and uncertainties are detailed from time to time in reports filed by PharmEng with the securities regulatory authorities in all of the provinces and territories of Canada. New risk factors may arise from time to time and it is not possible for management to predict all of those risk factors or the extent to which any factor or combination of factors may cause actual results, performance and achievements of PharmEng to be materially different from those contained in forward-looking statements. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction actual results.

Contact Information

  • PharmEng International Inc.
    Bert Loveless
    Chief Financial Officer
    (905) 415-3922 x 107