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Gold/Mining/Energy : Sonus Corp. (formerly Healthcare Capital Corp.) - AMEX:SSN -- Ignore unavailable to you. Want to Upgrade?

To: Slim who wrote (86)	2/12/1998 7:11:00 PM
From: Garth Richmond	Read Replies (1) \| Respond to of 96

Here's the official release: Common Stock Commences Trading On American Stock Exchange 03/10/1998 00:00:00 / HEALTHCARE CAPITAL CORP SONUS CORP ("SSN-A") [formerly Healthcare Capital Corp. ("HCL-Y;HLCRF-L")] - Common Stock Commences Trading On American Stock Exchange Sonus Corp. (formerly HealthCare Capital Corp.), a leading operator of audiology clinics in the United States and Canada, announced that its common stock has commenced trading on the American Stock Exchange ("AMEX") under the symbol SSN, effective February 10, 1998. Simultaneous to listing on the AMEX, shares of the Company's common stock have ceased trading on the Alberta Stock Exchange, where they traded under the symbol HCL. Brandon M. Dawson, President and Chief Executive Officer of Sonus Corp., commented, "Listing on the AMEX will provide much broader exposure for the Company and facilitate the purchase of Sonus common stock by U.S. investors on the open market. "This U.S. listing reflects the culmination of a process initiated in October 1996, when we began an aggressive U.S. acquisition strategy. Since that time, we have acquired 41 hearing health clinics in an industry which is highly fragmented and populated primarily by sole proprietor operations, many of which have been unable to replicate the economic advantages derived from being part of a large, multi-clinic organization. In December 1997, we completed an $18 million preferred stock private placement with Warburg, Pincus Ventures, L.P., the proceeds of which will be used to fund our acquisition strategy and for working capital purposes. Also in December, we retained Salomon Smith Barney Holdings Inc., a subsidiary of The Travelers Group (NYSE-TRV), of New York, New York as Sonus' investment banking firm. Coupled with Sonus' growing reputation as a high quality provider of hearing health services, these milestone developments will greatly assist us in achieving our goal of becoming the premier hearing health care provider in North America's $2 billion hearing health market." Regarding the proposed name change, Mr. Dawson continued, "Sonus, which is Latin for sound, more accurately reflects the Company's focus on hearing health." The Company also announced that President and Chief Executive Officer Brandon M. Dawson is featured in the "Up & Comers" section of Forbes magazine (January 26, 1998). Mr. Dawson stated, "I am honored that my efforts on behalf of the Company and its shareholders are featured in such a well-respected and widely-read business publication." Sonus Corp. owns the largest group of audiology based hearing clinics operating in the United States and Canada. Sonus' 52 hearing clinics provide a full range of products and services to hearing impaired patients. The Company's vision is to become the premier hearing care provider in North America. Sonus' strategy involves the consolidation of the industry through acquisition of quality hearing care clinics. This news release contains forward looking statements which may involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Sonus Corp. to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements. Such factors with respect to Sonus Corp. include economic trends in Sonus Corp.'s market area, the ability of Sonus Corp. to manage its growth and integrate new acquisitions into its network of hearing care clinics, the development of new or improved medical or surgical treatments for hearing loss or of technological advancements in hearing instruments, changes in the application or interpretation of applicable governmental laws and regulations, the ability of Sonus Corp. to complete additional acquisitions of hearing care clinics on terms favourable to Sonus Corp., the degree of consolidation in the hearing care industry, Sonus Corp.'s success in attracting and retaining qualified audiologists and staff to operate its hearing clinics, product and professional liability claims brought against Sonus Corp.'s insurance coverage, and the availability of and costs associated with potential sources of financing. Sonus Corp. disclaims any obligation to update any such factors or to publicly announce the results of any revision to the forward looking statements contained herein to reflect future events or developments TEL: (503) 225-9152 Edwin J. Kawasaki, CFO TEL: (212) 836-9608 Devin Sullivan, Sonus I.R. Counsel, The Equity Group