Pyng Medical Corp.

Pyng Medical Corp.

September 23, 2010 17:35 ET

Senator Patty Murray Includes $1 Million for Pyng Medical Corp. for the FASTInfo™ Patient Status Monitoring

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 23, 2010) - Pyng Medical Corp. (TSX VENTURE:PYT) announced today that on Thursday, September 16th, 2010, the United States Senate Appropriations Committee approved the Fiscal Year 2011 Defense Appropriations bill and as part of this bill, Senator Patty Murray (D, WA), a senior member of the Appropriations Committee, announced that she had included $1 million for PYNG Medical USA Corporation (Kirkland, WA) to design and develop the FASTInfo™ Patient Status Monitoring.

Senator Murray intends that this money will assist in creating jobs and in helping keep Washington State at the forefront of medical innovation and technology. Before the bill becomes law, it must be passed by the full Senate, reconciled with the House version, and sent to the President for signature. Pyng anticipates that, with only a short number of legislative days remaining prior to the midterm election, these next steps will likely occur when Congress reconvenes following the election.

About Pyng Medical Corp.

Pyng Medical Corp. commercializes award-winning trauma and resuscitation products for front-line critical care personnel. Pyng's expanded product portfolio includes a variety of innovative, lifesaving tools. With growing markets in North America, Europe and Asia, Pyng offers user-preferred medical devices for use by hospital staff, emergency medical services and military forces worldwide.

Safe Harbour Statement; Forward-Looking Statements: This release may contain 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 Company's strategy for growth, product development, market position, expected expenditures and financial results 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 Ontario 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.

Neither the TSX Venture Exchange nor its Regulatory Service 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

  • Pyng Medical Corp.
    Bob Di Silvio
    Chief Executive Officer
    1-800-349-7964 (x208)