TSX Venture: NID
CAMPBELLVILLE, ON, Aug. 14 /CNW/ - NIR Diagnostics Inc. (TSX Venture:
NID), a leading-edge developer of near-infrared medical instruments, today
announced that it sent an in-vivo prototype device to Shaklee Corporation of
Pleasanton, California in connection with a strategic alliance agreement.
A determination will be made during the next 30 days as to whether the
performance specifications as outlined in the agreement have been met and
whether the success fee of $1,000,000 is payable by Shaklee to NIR Diagnostics
as stipulated in the strategic alliance agreement announced on August 9, 2006.
About NIR Diagnostics
NIR Diagnostics is a leader in the development of near-infrared,
spectroscopic medical diagnostics. The Company has an extensive portfolio of
optical, electronic and algorithm related patents in the field of in-vitro and
in-vivo blood analysis.
This press release contains information that is forward-looking
information within the meaning of applicable securities laws. In some cases,
forward-looking information can be identified by the use of terms such as
"may", "will", "should", "expect", "plan", "anticipate", "believe", "intend",
"estimate", "predict", "potential", "continue" or the negative of these terms
or other similar expressions concerning matters that are not historical facts.
Particularly, statements about the planned development of diagnostic devices,
the potential efficacy of such devices and the success of its arrangements
with key strategic partners are forward-looking information.
Forward-looking information, by its nature necessarily involves risks and
uncertainties including, without limitation, the difficulty of predicting
regulatory approvals, market acceptance and demand for new products, the
protection of intellectual property connected with devices, the impact of
competitive products, and other similar or related risks and uncertainties.
Additional risks and uncertainties affecting the Company are discussed in the
Risks and Uncertainties section of the MD&A for the year ended December 31,
2006 available on SEDAR at www.sedar.com. If any of these risks or
uncertainties were to materialize or if the factors and assumptions underlying
the forward-looking information were to prove incorrect, actual results could
vary materially from those that are expressed or implied by the
forward-looking information contained herein. The Company disclaims any
intention or obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
For further information:
For further information: Duncan MacIntyre, President, CEO and Executive
Vice Chairman, NIR Diagnostics Inc., (905) 854-5727, (905) 854-5729 Fax,
E-mail: firstname.lastname@example.org, Internet: www.nirdiagnostics.com; Ross
Marshall, Investor Relations, (416) 815-0700 ext. 238, (416) 815-0080 Fax,
E-mail: email@example.com, Internet: www.equicomgroup.com