Wednesday August 4, 8:46 am Eastern Time
Company Press Release
BioLogix Sells Assets to TheHealthChannel.com, Inc.
NEWPORT BEACH, Calif.--(BW HealthWire)--August 4, 1999--BioLogix International, Ltd. (OTCBB:BGIX - news) is
pleased to announce that it is finalizing an agreement to sell TheHealthChannel.com website and certain related technology to
TheHealthChannel.com, Inc. (OTCBB: THCL formerly IVTX) formerly known as Innovative Tracking Solutions Corporation
(''Innovative''). BioLogix is retaining all other assets currently owned by BioLogix. THCL is a Delaware corporation that is
fully compliant with the reporting requirements of the Securities Exchange Act of 1934, as amended. Donald Shea, the
ex-president of Clairol, Inc. is the President of THCL and Tom Lonergan, with over 25 years of hospital administration will
continue in the position he held with BioLogix as THCL's COO, Secretary, and CFO. Both Mr. Shea and Mr. Lonergan were
members of the BioLogix Board of Directors.
All other existing Board members of BioLogix shall constitute THCL's Board until the next annual meeting of shareholders,
with the exception of Mr. Michael Grandon. Mr. Grandon is no longer an officer or director of either BioLogix or THCL.
Shareholders of record of BioLogix International, Ltd. as of the end of trading on August 4, 1999 are being offered the
opportunity to exchange their BGIX shares for shares of THCL on a one-for-one basis. All free-trading shares of BGIX shall
be exchanged for free-trading THCL shares and all restricted shares of BGIX shall be exchangeable into restricted THCL
shares. BioLogix management recommends that all BGIX shareholders exchange their shares into THCL shares. All BioLogix
shareholders of record as of August 4, 1999 shall receive a Letter of Transmittal containing instructions to complete the
exchange of their shares; if the shares are held in DTC electronic format the broker of record shall receive the Letter of
Transmittal. All shareholders shall have 15 days from the date of mailing to return their Letter of Transmittal. All questions
regarding this process should be directed to the following e-mail address: tomlonergan@hotmail.com.
BioLogix shareholders are also informed that BGIX will be delisted from the over-the-counter bulletin board system (''Bulletin
Board'') on approximately September 1, 1999. BioLogix retains its point-of-care blood analysis technology and related assets.
The BioLogix Board is currently considering the eventual disposition of these assets.
Certain shareholders of record of IVTX as of July 30, 1999 are being offered the opportunity to exchange their former IVTX
shares for shares of THCL on a two IVTX shares-for-one THCL share. If you are an IVTX shareholder as of July 30, 1999
then please call 1-888-437-4343 in order to secure details regarding the exchange of your shares.
Innovative is a Healthcare company that recently placed its operating assets into a privately owned company called Innovative
Tracking Solutions, Inc. a Nevada corporation. It produces the Private Practice(TM) Vibration Reminder Disk and Patient
Adherence Programs. TheHealthChannel.com, Inc. will feature Innovative's products on its web site. ''We are excited about
offering another value-added feature through our rapidly growing Internet portal,'' said Tom Lonergan. ''While our focus is on
helping the public to have more information and control over their own healthcare, Innovative's focus is on products and
programs that help patients have more control over their treatment outcome. THCL's management believes that this creates a
perfect fit.''
''We are pleased to find an acquiring company that enhances the marketplace exposure of our product line,'' said Dianna
Cleveland, President and CEO of Innovative. ''We look forward to working with TheHealthChannel.com over the next
several months to reinforce the national exposure of our products.''
BioLogix paid $250,000 for the purchase of Innovative's management shares. Full details of the transaction will be filed with
the SEC on a Form 8-K within 15 days.
Please note: Included in this press release are forward-looking statements within the meaning of Section 27A of the Securities
Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Although the company
believes that the expectations reflected in such forward-looking statements are reasonable; it can give no assurance that such
expectations reflected in such forward-looking statements will prove to have been correct.
|
