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Gold/Mining/Energy : PYNG Technologies -- Ignore unavailable to you. Want to Upgrade?

To: Edward W. Richmond who wrote (3619)	4/9/1999 6:10:00 PM
From: Tim Rogers	Read Replies (1) \| Respond to of 8117

NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS FOR: PYNG TECHNOLOGIES CORP. VSE SYMBOL: PYT OTC Bulletin Board SYMBOL: PYNGF APRIL 9, 1999 Pyng Technologies Corp. Announces F.A.S.T.1 A Success as Field Trials are Complete VANCOUVER, BRITISH COLUMBIA--Pyng Technologies Corp. is pleased to announce that subsidiary; Pyng Medical Corp. has successfully completed field trials on the F.A.S.T 1 System for Adult Intraosseous Infusion. The F.A.S.T.1, which was researched, designed, and developed by Pyng Medical Corp., provides emergency caregivers the ability to establish central vascular access within 60 seconds inclusive of initial delivery of drugs and fluids thereby saving lives and saving time in an emergency environment. Pyng Medical Corp. selected to do field trials at multiple sites in America and Canada so that paramedics and emergency doctors could evaluate the F.A.S.T 1 System in a real emergency environment. The trials established the life saving/time saving benefits of the F.A.S.T 1 System as well as provide valuable input for both product and performance improvements, most of which was incorporated into the product during this process. This process required local, county, provincial and state approvals prior to the commencement of actual use. This is because the F.A.S.T 1 System is not only the worlds first FDA approved system for intraosseous infusion in the sternal site, but it is also a new medical procedure, developed by Pyng Medical Corp. All performance criteria that Pyng Medical Corp. set out to demonstrate from field trials have been met with approximately 150 uses to date in the civilian and military field trial locations. Field trial sites also have on hand a similiar amount of units that will also provide continued clinical evidence to Pyng Medical Corp. for use in medical publications, media coverage, and marketing. These trials have proved unequivocally that the F.A.S.T 1 System for Adult Intraosseous Infusion does, in fact, save lives and save time in the most critical time in emergency medicine. The response from these trial sites and the enthusiasm generated from all emergency caregivers in the field who have had the opportunity to use the System first hand has been very gratifying to all Pyng Medical staff. The conclusion of field trials now allows Pyng Medical Corp. the ability to free up staff, who were otherwise devoting time to field trials, to be fully involved in fast tracking the System into mass production. Management has provided an incentive program to all staff members to deliver the most cost effective, high quality, technically superior, F.A.S.T 1 product that will meet and exceed the excellent results achieved in field trial use to date. Mass production analysis, individual component review for mass production, and design changes to maximize cost savings while ensuring quality are all presently being reviewed. Subcontractors, suppliers, tool and die makers, injection molders, who meet the required medical device criteria are being identified and will be contacted, with the goal of fast tracking the System into mass production. Pyng Medical Corp. will now devote all current financial and human resources to bring to the market a mass-produced, high quality, cost effective F.A.S.T 1 System for delivery by the fourth quarter 1999. In parallel with this mass production goal Pyng Medical Corp. will be negotiating with and establishing regional distributors for the System. Meetings have already been held with several distributors who meet our requirements and who have expressed a strong desire to have semi-exclusive distribution agreements, and who will place stocking orders on the F.A.S.T. 1 System. The company intends to handle all military contracts in-house. Pyng Medical Corp. will, as it has in the past, also have very strong presence, in concert with appointed distributors, at National and State emergency medical conferences in order to book orders and further enhance the awareness of the System. We also intend to appoint a media consultant to provide wide coverage for both advertising and editorial coverage on the F.A.S.T 1 System in appropriate medical, business, and investment journals. -30- FOR FURTHER INFORMATION PLEASE CONTACT: Pyng Technologies Corp. Michael W. Jacobs President 1-800-349-7964 Web site at www.pyng.com The VSE has neither reviewed or approved of the contents of this news release. INDUSTRY: MTC SUBJECT: NWS