Cents and Sensibility - Kimberly and Friends' Consortium Message Board

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Strategies & Market Trends : Cents and Sensibility - Kimberly and Friends' Consortium

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To: Kimberly Lee who wrote (1916)	4/15/1999 9:40:00 AM
From: Scott H	of 108040

BGIX NEWS SAN FRANCISCO, April 15 /PRNewswire/ -- Following the successful launch this month of the healthcare supersite, thehealthchannel.com, the Boards of Directors of THE HEALTH CHANNEL Netcasting Corporation and BIOLOGIX International, Ltd. (OTC Bulletin Board: BGIX) have reached final agreement on their strategic merger. Under the terms of the business combination, all but a 20% privately-held interest in THE HEALTH CHANNEL(TM) would be merged with BIOLOGIX and all of its other Internet subsidiaries, including MED TEL(TM) and VIRTUCARE(TM). The move is expected to boost the asset base of the consolidated company to approximately $20 Million, with only modest losses and no debt, and produce a strong financial base from which to pursue a potential Nasdaq listing and offering. This represents a significant departure from earlier intentions to spin THE HEALTH CHANNEL(TM) off as a separate entity. By keeping the companies together, management believes thehealthchannel.com will be better equipped to maintain and build on its leadership position in the increasingly competitive market for healthcare content producers. The deal calls for the BIOLOGIX shareholders to continue active market trading, with a new name and symbol change, pursuant to an amended Form 10 SEC registration, Nasdaq listing and public offering; subject to shareholder and regulatory approvals. BIOLOGIX shareholders will also receive new HEALTH CHANNEL stock at a conversion rate based on the difference between the average trading price and target offering price of THE HEALTH CHANNEL(TM) common stock on the effective date of any approved IPO. All shareholders are entitled to review proxy materials detailing the transaction, and more information will be made available on the worldwide web at: thehealthchannel.com and biologix.net. SOURCE BioLogix International, Ltd. /CONTACT: Michael Grandon of BioLogix, 415-954-8588/ /Web site: thehealthchannel.com /Web site: biologix.com (BGIX)

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