Pyng Medical Corp.
TSX VENTURE : PYT

Pyng Medical Corp.

September 09, 2015 08:55 ET

Pyng Medical Announces Partial Product Recall

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 9, 2015) - Pyng Medical Corp. (the "Company") (TSX VENTURE:PYT) announces it initiated a voluntary partial recall related to a setting on its MAT product. A manufacturing error affected about 5%-10% of units in 7 lots. The affected units were not put in the proper "set position" before packaging. This does not relate to a defect in the MAT product and is not a design issue. The recall involves performing a simple inspection of the returned packaged product and sending the unaffected product back to the customer. Pyng's manufacturer has immediately taken responsibility for correcting the problem.

About Pyng Medical Corp.

Pyng Medical Corp. engineers and markets award-winning trauma and resuscitation products for front-line critical care personnel world-wide. Pyng's product portfolio includes innovative sternal intraosseous (sternal IO) pelvic stabilization and tourniquet devices specifically designed and customized for both the military and civilian markets. With growing markets in North America, Europe and Asia, Pyng develops user-preferred medical devices for use by hospital staff, emergency medical services and military forces worldwide.

More information about Pyng is available on SEDAR at www.sedar.com under the Company's profile and on its website: www.pyng.com.

Neither 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.

Safe Harbour Statement; Forward-Looking Statements: This release contains forward-looking statements based on management's expectations, estimates and projections. All statements that address expectations or projections about the future, including statements about the closing of the transactions described in this release and TSX Venture Exchange approvals are forward-looking statements. Some of the forward-looking statements may be identified by words like "expects", "anticipates", "plans", "intends", "projects", "indicates", and similar expressions. These statements are not guarantees of future performance and involve a number of risks, uncertainties and assumptions. Many factors, including those discussed more fully elsewhere in this release and in documents which may be filed with the British Columbia Securities Commission, the Alberta Securities Commission, the TSX Venture Exchange, as well as other USA Commissions, could cause results to differ materially from those stated. These factors include, but are not limited to changes in the laws, regulations, policies and economic conditions, including inflation, interest and foreign currency exchange rates, of countries in which the Company does business; competitive pressures; successful integration of structural changes, including restructuring plans, acquisitions, divestitures and alliances; cost of raw material, research and development of new products, including regulatory approval and market acceptance; and seasonality of sales in some products.

Contact Information

  • Pyng Medical Corp.
    George Dorin
    Chief Financial Officer
    (604) 303-7964 x219
    www.pyng.com