Applied Medical Devices, Inc. Announces Letter of Intent to Merge DENVER, July 7 /PRNewswire/ -- Applied Medical Devices, Inc. (OTC Bulletin Board: AMDI), today announced it has entered into a letter of intent with NISCO Systems, Incorporated, of Lawrenceville, Georgia. NISCO was organized in 1999 to design and install high-speed telecommunications infrastructures for corporations, specializing in complex inter-building, intra-building, outside-plant and corporate networks. The terms of the merger and other information regarding NISCO and the Company will be provided to shareholders in a proxy statement to be filed with the Securities and Exchange Commission. In addition to shareholder approvals, the closing of the merger will be subject to completion of due diligence and the execution of a definitive agreement, which is expected to include representations and warranties customary to a transaction of this nature. Allan Lager, President of the Company, stated, "We have been engaged in a long-standing effort to find a suitable merger partner. We believe that we have been successful in accomplishing our objective with NISCO, and we are hopeful that the merger process will proceed smoothly and that we will be able to close the merger later this year." INVESTOR NOTICES This press release includes "forward-looking statements" as defined by the Securities and Exchange Commission (the "SEC"). Such statements are those concerning the Company's merger plans. All statements, other than statements of historical fact, included in this press release that address activities, events or developments that the Company believes or anticipates will or may occur in the future are forward-looking statements. This includes completion of the proposed merger and other matters. These statements are based on certain assumptions made by the Company based on its experience, expected future developments and other factors it believes are appropriate in the circumstances. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. Investors and security holders are advised to read the proxy statement to be filed with the SEC in connection with the proposed merger because it will contain important information. The proxy statement will be filed with the SEC by the Company. Investors and security holders may obtain a free copy of the proxy statement (when available) and other documents filed by the Company with the SEC at the SEC's website at www.sec.gov. The proxy statement may also be obtained from the Company by directing such request to the Company, at P.O. Box 2365, Edwards, Colorado 81632; telephone (970) 926-3631. SOURCE Applied Medical Devices, Inc. -0- 07/07/2000 /CONTACT: Greg Pusey of Applied Medical Devices, Inc., 970-926-3631/ (AMDI) |