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Strategies & Market Trends : Joe Copia's daytrades/investments and thoughts -- Ignore unavailable to you. Want to Upgrade?

To: Joe Copia who wrote (15297)	5/11/1999 10:58:00 AM
From: Bidder	Read Replies (1) \| Respond to of 25711

Joe, PCBM news today! Moving nicely. Any comments? TIA Bidder

To: Joe Copia who wrote (15297)	5/11/1999 12:59:00 PM
From: Blitz	Read Replies (1) \| Respond to of 25711

PRXX news just out! uesday May 11, 12:36 pm Eastern Time Company Press Release SOURCE: Goanna Resources Inc. Goanna Resources Inc. Joint-Ventures to Sell to Multi-Billion Dollar Health Market Anti-Wrinkle Cream to be Sold on Television and on the Internet VANCOUVER, British Columbia, May 11 /PRNewswire/ -- A name change and an exclusive agreement for the world rights to market over-the-counter carbohydrate-based compounds for facial wrinkles and arthritis was announced today by Goanna Resources Inc. (OTC Bulletin Board: GOAN - news). The still to be named company will joint-venture with Praxis Pharmaceuticals Inc. (OTC Bulletin Board: PRXX - news), an Australian-based medical research and development company, which is one of the world authorities on carbohydrate-based pharmaceutical products. The new company will have a sixty-five percent interest in a carbohydrate-based anti-aging (wrinkles) facial compound as well as an arthritis compound. Under the agreement the joint-venture company will be entitled to all patents and patent applications to further the development of over-the-counter products created by Praxis. This includes all work done to date involving patents, applications, trade secrets, research and experimental results. Praxis will maintain a 35 percent interest in the joint venture. The market for the topical (applied on the skin) wrinkle cream is estimated to be more than $4-billion annually affecting some 100 million people. The market for arthritis in its various forms is equally as vast. The Arthritis Society of America predicts that by 2020, arthritis cases are expected to have increased by 57 percent to affect 59.4 million Americans or 18 percent of the total population. It reports that 15 percent of the U.S. population is currently suffering from some form of arthritic condition. Priority marketing will first involve the anti-wrinkle cream. It is to replace other forms of skin care treatment for wrinkles including expensive face lifts and collagen injection. The topical cream will be marketed exclusively on the Internet, nationally on television and in selected publications. The arthritis treatment product will be sold in drug stores throughout North America. The science involved is based on carbohydrate chemistry which is the chemistry associated with sugar molecules. This knowledge that human proteins and cells are coated with sugar allows scientists to facilitate unique treatment in areas such as anti-aging of the skin and certain arthritic conditions. A pioneer in this work is Dr. William Cowden, PhD, a renowned medical research scientist specializing in carbohydrate therapeutics. Dr. Cowden and the Praxis research staff conduct their research at the John Curtin School of medical research, a world-class medical research facility (four of its faculty have been awarded the Nobel Prize in Medicine) which is part of the Australian National University in Canberra. The president of the yet-to-be-named corporation, Byron G. Cox, a professional marketing specialist, is a former president of Goldstream Nutrition Products, a national skin care and health products corporation. Mr. Cox said the skin care field in particular is one of the fastest growing segments of the industry as the ''baby-boomer'' generation reaches middle age. ''It looks like the medical research scientists have finally discovered the fountain of youth in a jar to improve wrinkled, aging skin,'' said Mr. Cox. ''I think you will see sales sky rocket once the product is ready to market.'' Once a delivery system is formulated for the anti-wrinkle product, it should be available for public use within the next six to twelve months. The joint-venture agreement, subject to approval by the Board of Directors of both companies, involves the to be named company (Goanna) to pay US$250,000 and the issuance of 50,000 shares at a value of US$700,000 ($14 per share) to Praxis Pharmaceuticals Inc. For further information contact the Goanna at 604-221-2288 between the hours of 8:00 a.m. and 5:00 p.m. Pacific Daylight Savings Time. Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995. This news release contains forward-looking statements which are, by necessity, only estimates of further results. Actual results achieved by (Goanna) may differ materially from these statements due to a number of factors. No obligation to update these forward-looking statements to reflect actual results or changes in other factors affecting such statements is assumed. SOURCE: Goanna Resources Inc. More Quotes and News: Goanna Resources Inc (OTC BB:GOAN - news) Praxis Pharmaceuticals Inc (OTC BB:PRXX - news) Related News Categories: medical/pharmaceutical Help Copyright © 1999 PRNewswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon. See our Important Disclaimers and Legal Information.