Viropro Acquisition of CNC Continuing on Track Bullish on Growth Opportunities
The past several weeks have seen Viropro, Inc. continuing to forge ahead in its mission as an incubator of biotechnology and healthcare companies. The Company is currently in the due diligence and structuring phase of its planned acquisition of the operations of Central Network Communications Inc. (CNCW: OTC Other). Subject to meeting certain undisclosed milestones, Viropro, Inc. has decided to increase its offer from 20 Million common shares to 25 Million common shares of Viropro in exchange for the shares of CNC Holdings Inc.
Growth Activities for Pyramid in Ontario and Quebec: Market activity for CNC's Pyramid product has accelerated of late, notably with the introduction of its case-costing, decision support software to the Ontario market. In follow-up to initial presentations and customer invitations this Spring, the Ontario sales campaign, supported by local representation, will be moving into high gear in coming weeks.
The company was also invited to participate in the Quebec government's information network and resource planning seminar which took place on May 21, 2004 in Montreal. The sessions were hosted by the Quebec Ministry of Health Services (MSSS) and the Association of Health Technology Industries (AITS). With CNC's Pyramid software now installed and operating at the Hotel-Dieu Hospital of St. Jerome, representing the first installation of a true case-costing system in Quebec, the Pyramid product drew special interest from the government and healthcare professionals in attendance.
Developments in Biotech: Viropro, Inc. has also boosted its activities in the Biotech sector where it is actively pursuing promising opportunities in Brazil and China. The Company expects to be announcing developments in the near future.
Analyst Coverage of Viropro: On another front, the Company recently began receiving analyst coverage from Francis Gaskins of IPOdesktop. His analysis published in "The Analysts Corner", reportedly the web's leading IPO Analysis Site (http://www.gaskinsco.com/linkto-vpro.shtml) highlights Viropro's plans to position itself through acquisition and internal growth in the healthcare software and biotech life sciences markets along with its targeted acquisition plan to roll-up life science and biotech properties. In his report, Mr. Gaskins remarks that "With a footprint in the Canadian market where healthcare is government subsidized and efficiency is mandated, Viropro is well positioned to execute its business plan." He also comments positively on Viropro's growth plans for Biotech in Brazil and China.
Mr. Gaskins' report came on the heals of a previous announcement by the company that Trivor Financial Group I LP has committed to invest at least $1M US incrementally over the next several weeks to facilitate growth of Viropro's target acquisitions in the international Life Sciences sector. Trivor is also committed to working with Viropro as a lead funder for these and other acquisitions being contemplated.
About Viropro, Inc.
Viropro, Inc. (OTCBB: VPRO) is an emerging provider of management, product and technology solutions for international Life Sciences markets. The Company is seeking to establish a growth portfolio in Life Sciences through revenue-producing acquisitions with the potential for continued shareholder value. Through its growth, the Company also aims to facilitate the discovery and development of chemical and biological products and processes that will benefit medical science and increase the quality of life.
About Central Network Communications (CNC) Inc.
Central Network Communications Inc. develops and markets proven, innovative management solutions for the Healthcare sector. Headquartered in Montreal, Central Network Communications is a public company listed on the OTC Other market under the ticker symbol CNCW. For more information, visit www.cncinc.ca.
Viropro, Inc's Safe Harbor Statement
Except for any historic information contained herein, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties, which are subject to section 27A of the Securities Act of 1933 and section 21E of the Exchange Act of 1934, and are subject to safe harbor created by these sections. Any statements that express or involve discussions with respect to predictions, beliefs, plans, projections, objectives, goals, assumptions of future events or performances are not statements of historical fact and may be "forward looking statements". Forward looking statements in this release may be identified through the use of such words as "expects", "anticipates", "estimates", "believes", or statements indicating certain actions "may", "could", or "might" occur. Actual results, performance or achievements could differ materially from those anticipated in such forward-looking statements, which involve numerous risks and uncertainties, including the Company's ability to market its products and services in a competitive environment as well as other factors.
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