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PharmaCom BioVet, Inc.: PharmaCom BioVet, Inc. Announces Plan for Asset Sale With Dividend to Shareholders

^{Published on 2009-08-05 06:08:17, Last Modified on 2009-08-05 06:08:29 - Market Wire}
 

RALEIGH, NC--(Marketwire - August 5, 2009) - PharmaCom BioVet, Inc. (PINKSHEETS: [ PHMB ]) management today announced that the company intends to sell one or more of its business assets to a fully reporting public company with the anticipated result of distributing the proceeds of any such executed deal directly to the company's shareholders in a dividend. Management is in discussions with interested parties, and is undergoing valuation of the company's assets together with customary due diligence. Upon the sale of one or more assets, PharmaCom BioVet shareholders will receive the proceeds of any dividend pro rata while retaining their ownership interest in PharmaCom BioVet.

PharmaCom CEO Gary Berthold stated, "The opportunity to have one or more assets purchased by a reporting company offers significant benefits to the company and its shareholders, not only with respect to any dividend, but also by the ability of a fully reporting company to effect continuing mergers and acquisitions, joint ventures and financing to expedite our business assets and technologies."

Management stated that specific details will be announced upon the execution of definitive agreements.

About PharmaCom BioVet, Inc.:

PharmaCom BioVet, Inc. has positioned itself to become a leader in specialized veterinary oncology (cancer treatment facilities for animals). PHMB management specializes in Veterinary Oncology Treatment Centers that will be strategically located throughout the United States. PHMB has licensed a series of proprietary devices and compounds that enable animals suffering from cancer potentially greater life expectancy and decreased suffering. To learn more, please go to the Corporations Web site [ www.pharmacombiovet.com ]

Safe Harbor Statement:

The information posted in this release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by use of the words "may," "will," "should," "plans," "expects," "anticipates," "continue," "estimate," "project," "intend," and similar expressions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing various engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technological advances and delivering technological innovations, shortages in components, production delays due to performance quality issues with outsourced components, and various other factors beyond the Company's control.