NARI Announces Change of Company Name to Immulabs Corporation and Trading Symbol to IMLB
SCANDIA, MN & BOSTON -- (BW HealthWire) -- Sept. 14, 2000 -- North American Resorts, Inc. (OTCBB:NARI - news), announced today that pursuant to shareholder approval received August 28, 2000, it has changed the Company name to IMMULABS CORPORATION with trading symbol change accordingly to IMLB (OTCBB:IMLB - news).
Ben Traub, President and Chief Executive Officer, comments, "The Immulabs name best reflects the strategic business direction of the company. The new name highlights internal moves to capitalize on the nature of the intended acquisitions by the company and is also part of a larger plan to establish IMMULABS as a leading niche player in the Biotechnology industry.''
The name change is indicative of the Company's new commercial strategy, which provides for seeking out and acquiring revolutionary immune system-related technology.
More particularly, the new strategy is to acquire BioTech/BioMed companies or technologies that provide a unique and valuable benefit to the human immune system and which are already significantly developed and nearing market readiness. Immulabs intends to provide an infrastructure for global commercialization of such technologies.
Immulabs' management company and incubator, Cyclone Financing Group Inc. (CFGi), has identified several attractive opportunities that are related to the Immune System, and the Company is currently in its diligence process. The name change comes as part of an overall corporate reorganization that is being managed by CFGi. CFGi is responsible for creating Immulabs' new corporate vision, facilitating and advising on the acquisition of a high-potential business opportunity to match that vision, recruiting a senior management team to build the resulting business into a global presence, and laying the foundation for a future listing on a major exchange.
CONTACT:
Immulabs Corporation
Robert Seitz: 888/709-3976 or 604/646-5516
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