NARI Reveals New Corporate Vision
Focus on Immune System Bio-Tech
SCANDIA, MN -- August 2, 2000 -- North American Resorts, Inc. (OTCBB:NARI) announces its intention to acquire a biotechnology sector opportunity with advanced research and a specific focus on the Immune System.
NARI's management company and incubator, Cyclone Financing Group Inc. (CFGi), has identified several attractive opportunities that are related to the Immune System and is close to announcing an acquisition.
President and CEO, Ben Traub, says; "Given the increasingly widespread recognition of the Immune System's critical role in defending the body and fighting disease, and the growing modern concern with the maintenance of wellness, management believes there is a significant commercial opportunity afforded by new and maturing sciences which improve health and reduce the harmful effects of today's lifestyle on the Immune System. The shareholders of NARI should realize considerable value as the Company acquires and joint ventures selected technologies".
Management believes that there is great promise in an immediate, pro-active acquisition in this sector for the following reasons:
1. Over the past thirty years, hundreds of millions of dollars have been invested in biotech R&D and much of that research is about to mature, providing many opportunities with near-term commercialization potential.
2. The biotech sector has temporarily fallen out of favor with the investment community. The current investment climate may enable NARI to make rewarding acquisitions at far less cost than if the sector were 'in favor'. Timing in this matter is critical as the market may, at any time, correct this imbalance.
3. Resilience to economic cycles makes this sector particularly attractive: 'Cures for cancer are never out of favor'.
4. An aging population translates into growing demand for 'wellness'-related breakthroughs. Commercialization potential of new biotechnology discoveries will grow over the coming decade as affluent baby boomers age and enter a more health-conscious stage of their lives.
The immune system is a complex network of specialized cells and organs that have evolved to defend the body against attacks by "foreign" invaders. When functioning properly it fights off infections by agents such as bacteria, viruses, fungi, and parasites. When it malfunctions, the immune system opens the floodgates for a torrent of diseases, from allergies to arthritis to cancer and AIDS. However, thanks to new medical breakthroughs, we are experiencing longer, healthier lives. While much effort is being invested in finding cures for disease, Management has elected to focus on immune prevention with the hope of reducing and eliminating many common diseases realized by an aging population exposed to increasing levels of environmental contamination.
Nasdaq Index firms in the biotechnology industry that are primarily involved in the use of biological processes to develop products or provide services include Amgen Inc. (NASDAQ:AMGN), Bio-Technology General Corp.( NASDAQ:BTGC), Biogen, Inc. (NASDAQ:BGEN), Celera Genomics (NASDAQ:CRA), Cephalon, Inc. (NASDAQ:CEPH), Chiron Corporation (NASDAQ:CHIR), COR Therapeutics, Inc. (NASDAQ:CORR), Genzyme Corporation (NASDAQ:GENZ), Gilead Sciences Inc. (NASDAQ:GILD), Human Genome Sciences, Inc. (NASDAQ:HGSI), IDEC Pharmaceuticals Corporation (NASDAQ:IDPH), Immunex Corporation (NASDAQ:IMNX), Medimmune Inc. (NASDAQ:MEDI), Millennium Pharmaceuticals, Inc. (NASDAQ:MLNM), Organogenesis Inc. (NASDAQ:ORG), Protein Design Labs, Inc. (NASDAQ:PDLI), Vertex Pharmaceuticals Inc. (NASDAQ:VRTX).
As previously announced, NARI will, subject to shareholder approval, change its name to 'Immulabs Corporation', which has been reserved for the Company, and will become effective upon an affirmative vote of the shareholders scheduled for August 21, 2000.
Management has retained incubator, CFGi, to handle the negotiations and acquisitions of immune focused biotechnology opportunities. CFGi will be responsible for recruiting a senior management team to build the business into a global presence and preparing the Company for a listing on a major exchange.
Certain information included in this communication contains statements that are forward-looking, which are subject to a number of known and unknown risks and uncertainties that could cause actual operations or results to differ materially from those anticipated.
CONTACT:
North American Resorts, Inc.
Robert Seitz, 888-709-3976 or 604-646-5516
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