Dallas, Texas (August 24, 2011) – StockGuru Shines its Spotlight on Advanced Medical Isotope Corporation (“AMIC”) (OTCBB: ADMD), a company engaged in the production and distribution of medical isotopes, has entered into a strategic relationship with Spivak Management Inc. (“SMI”) and Mann Healthcare Partners Inc. (“Mann Healthcare”) to form a joint venture to develop and execute AMIC’s business strategy. The Company closed in August 23, 2011, at $0.28, with a market capitalization of $20.5 million.
Through a memorandum of agreement for the strategic relationship between AMIC and SMI and related agreements, SMI and Mann Healthcare will consult to AMIC for five and three years, respectively, and assist AMIC with strategic advice, deal-specific advice and assistance, and board representation. Mann Healthcare also will facilitate introductions to potential investors.
Concurrently, SMI and Mann Healthcare are purchasing from AMIC, for $.01 per warrant, warrants entitling them to purchase, in the aggregate, up to 20,133,333 shares of AMIC common stock at an initial price of $0.20 per share. A portion of the warrants may be cancelled if certain performance milestones for AMIC are not achieved or if certain convertible debt is repaid instead of being converted. AMIC will have the right to require exercise of the warrants if its common stock trades in excess of $1.00 per share, subject to certain customary adjustments.
AMIC will pay a consulting fee of approximately $200,000 to SMI and, if AMIC consummates a financing through the joint venture, AMIC will reimburse certain expenses of SMI and Mann Healthcare incurred in the joint venture and will pay annual compensation to SMI and Mann Healthcare during the terms of their respective consulting agreements that is in the aggregate below the compensation paid to AMIC’s senior executive.
AMIC CEO Jim Katzaroff commented: “We look forward to the great opportunity presented by this strategic relationship. The long-term collaboration with SMI and Mann Healthcare will allow us to enlist and leverage the M&A and management skill and industry expertise of SMI and Mann Healthcare in executing AMIC’s business strategy, including consummating targeted acquisitions and joint ventures and bringing our pipeline of innovative products through the regulatory process and to commercialization. I am particularly pleased to again work with SMI’s Kenin Spivak, with whom I have partnered in several business ventures.”
SMI CEO Kenin M. Spivak remarked: “I have worked with AMIC’s CEO James Katzaroff for 15 years in a range of businesses. I am pleased to continue our relationship in a business that makes a critical difference to the health of so many people. AMIC is well-positioned to make that difference and if this strategic relationship achieves its goals, it will help give AMIC the tools it needs to succeed.”
Mann Healthcare Partners’ Ted Maloney added: “We have determined that nuclear medicine presently provides one of the greatest opportunities for significant advances and improvements in medical diagnostics and therapeutics, and we believe AMIC is well positioned to take advantage of multiple opportunities by leveraging both its broad industry relationships and existing product pipeline.”
About Advanced Medical Isotope Corporation
Advanced Medical Isotope Corporation (OTCBB:ADMD) is a company engaged in the production and distribution of medical isotopes for advanced diagnostic and non-surgical therapeutic application. AMIC’s goal is to empower physicians, medical researchers, and ultimately patients by providing them with essential medical isotopes that, until recently, have not been feasible or economical, in an effort to detect and cure human disease. For more information, please visit our website, www.isotopeworld.com
The Advanced Medical Isotope Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=5139
As an advisor and a principal, Spivak Management Inc., structures and negotiates complex corporate and international transactions, directs marketing, sales and distribution of consumer products and is engaged in all facets of the entertainment industry. SMI has led multiple change-in-control, financing, licensing, production and distribution transactions, particularly in the United States and Asia. Among other transactions, SMI and its affiliates acquired control of technology pioneer Telemac Corporation, publisher Phoenix New Millennium Inc. and advertising agencies Aquarius Promotional Enterprises Inc. and Snowball Media. SMI CEO Kenin M. Spivak has served as chairman, CEO, COO and director of numerous well known public and private companies. SMI is a partner in merchant banking firm GCP LLC in Beverly Hills and Dubai and private investment firm Double M Worldwide in Bangkok.
About Mann Healthcare Partners
Mann Healthcare Partners builds strategic collaborations and active partnerships with the management teams of its client and investment portfolio companies to build healthcare market leaders. Mann Healthcare fulfills key management and consulting roles for early- to late-stage healthcare companies, including public and private companies, and leads or arranges investments of private or public equity capital. Mann Healthcare structures engagements and transactions to meet the needs of business owners in many different circumstances. The business needs Mann Healthcare helps address include advisory and management services for building shareholder value through corporate development, including development-stage planning and execution, commercialization planning and execution, company management, expansion and growth, capitalization, and exits.
Safe Harbor Statement
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by the use of the words “may,” “will,” “should,” “plans,” “expects,” “anticipates,” “continue,” “estimates,” “projects,” “intends,” and similar expressions. Forward-looking statements involve risks and uncertainties that could cause 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 technical advances and delivering technological innovations, shortages in components, production delays due to performance quality issues with outsourced components, regulatory requirements and the ability to meet them, government agency rules and changes, and various other factors beyond the Company’s control.
To view this StockGuru Spotlight, please visit: http://www.stockguru.com/category/latest-spotlights/
To get free alerts on this and other similar stocks, please register here:
What is the StockGuru Spotlight?
Many companies covered in The StockGuru Spotlight have positive increases in both volume and share price. While this is not true in all cases, StockGuru strives to cover companies in The StockGuru Spotlight that are worth of our readers’ attention.
StockGuru looks for potential break-out candidates in The StockGuru Spotlight. Many of these companies have had recent news and appear to be getting the attention of investors. StockGuru does not typically feature companies in The StockGuru Spotlight that are compensating StockGuru for this coverage. There are times when StockGuru covers a stock in The StockGuru Spotlight that had previously compensated Stockguru. Where that is the case, a proper disclosure is included below. StockGuru and its partners, employees and writers never hold shares, short positions, warrants or any other current position in a stock featured in The StockGuru Spotlight.
To feature a company in The StockGuru Spotlight please contact the Publisher at firstname.lastname@example.org. If our reader is a key person for a publicly traded company, StockGuru can consider that company for either a StockGuru Spotlight or a StockGuru Profile. Please contact the StockGuru Publisher John Pentony at this email address: email@example.com.
Stockguru.com (“SG”) provides its members with the latest news, press releases, and trade alerts for all the companies highlighted on the site StockGuru.com. SG utilizes information believed to be reliable herein prepared all material. The information contained herein is not guaranteed by SG to be accurate, and should not be considered to be all-inclusive. The owner, publisher, editor and their associates are not responsible for errors and omissions. SG encourages readers and investors to supplement the information in these reports with independent research and other professional advice. All information on featured companies is provided by the companies profiled, or is available from public sources and SG makes no representations, warranties or guarantees as to the accuracy or completeness of the disclosure by the profiled companies or the information contained herein. The companies that are discussed in this opinion have not approved the statements made in this opinion. This opinion contains forward-looking statements that involve risks and uncertainties. This material is for informational purposes only and should not be construed as an offer or solicitation of an offer to buy or sell securities. SG is not a licensed broker, broker dealer, market maker, investment banker, investment advisor, analyst or underwriter. Please consult a broker before purchasing or selling any securities viewed on http://www.Stockguru.com or mentioned herein.
This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected”, “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and SG undertakes no obligation to update such statements. StockGuru is occasionally compensated for coverage. When this is the case, SG clearly indicates this with a disclosure of all compensation received in the past and present. Additionally SG also discloses any anticipated compensation in the future. Compensation is typically in cash. Sometimes a company pays SG in restricted shares. Pentony Enterprise and its associated companies does not take free trading shares for any reason at anytime. StockGuru is not a registered investment adviser or a broker-dealer. StockGuru makes no recommendation that the purchase of securities of companies profiled in this web site is suitable or advisable for any person, or that an investment in such securities will be profitable. In general, given the nature of the companies profiled and the lack of an active trading market for their securities, investing in such securities is highly speculative and carries a high degree of risk.
John Pentony, Publisher, Stockguru.com
Tel: +1 469 252 3031