Positron Corporation (POSC)

[Bayou Man]

News for 'POSC' - (Imagin Molecular Corporation Acquires an Investment Position in Positron Corporation Currently Valued at $35 Million)


CHICAGO, Jun 17, 2010 (BUSINESS WIRE) -- The Shareholders of Imagin Molecular
Corporation ("IMGM") have approved, through a consent of over 51% of shareholder
vote, certain transactions wherein IMGM completed the acquisition of 3,100,000
Class B Preferred Shares of Positron Corporation which shares are convertible on
a 1 for 100 basis into Positron common shares. This position marked to the
current market price for Positron Corporation common shares has a value of in
excess of $35 million. It is IMGM's intention to hold the Positron Class B
Preferred shares for investment purposes. The consideration for the exchange of
the Positron investment position is the issuance of 310,000,000 common shares of
IMGM to IMAGIN Diagnostic Centres, Inc. (IDC) a private Canadian company that is
in the PET scanning business in Canada and a historical owner of the 3,100,000
Class B preferred block equity position. IMGM simultaneously announces its
intent to build Cardiac Disease Reversal and Prevention Clinics across Canada
and, after initial success, across the USA and globally. The new subsidiary will
be named "Positron Cardiac CARE Clinics". These clinics will base its imaging
technology on Positron's Attrius(TM) dedicated cardiac PET scanners.

Currently IMGM holds approximately one Positron common share equivalent for each
IMGM common share outstanding. Positron preferred shares have been held by IMGM
since 2005. Upon completion of the exchange of Positron preferred shares for
IMGM common shares, IMGM will own the equivalent of 386,235,800 Positron common
shares and upon completion of this transaction IMGM will have 405,000,000 common
shares outstanding with no significant debt or preferred stock outstanding.

About Imagin Molecular Corporation:

Imagin Molecular Corporation (IMGM) is a company dedicated to socially
responsible issues. IMGM main areas of interest are focused on medical and
environmental. IMGM through its subsidiary Positron Cardiac CARE Clinics
("PCCC") is planning to open Cardiac Disease Reversal Clinics across Canada and
after initial success across the USA and globally.

IMGM through a newly to-be-formed 51% owned subsidiary The Planet Green Bottle
Corporation has developed and is introducing globally through a subsidiary, the
world's first and only oxo-biodegradable PET (polyethylene terephthalate)
plastic bottle. The Planet Green oxo-biodegradable technology was developed by
Wells Plastics Ltd of the UK and is proprietary with patent pending trademarked
by Wells as Reverte.

Imagin Molecular Corporation strategy and focus in its medical segment is
dedicated to capitalizing on opportunities in positron emission tomography (PET)
directed toward the diagnosis of cancer, heart disease and neurological
diseases. PET is an advanced medical diagnostic imaging procedure used by
physicians in the detection of certain cancers, coronary disease and
neurological disorders including Alzheimer's disease. IMAGIN Molecular
Corporation has a large strategic equity block position in Positron Corporation.
The Positron technology is considered to be the gold standard for cardiac
disease diagnosis.

About Planet Green Bottle Corporation

Planet Green Bottle Corporation ("PGBC") initiated with Wells Plastics Ltd. of
the UK, the development of a masterbatch additive which causes a PET plastic
bottle to become oxo-biodegradable in the environment. The Planet Green concept
is to promote its "The PLANET BOTTLE" logo as a brand enhancer wherein the
consumer will search for "The PLANET BOTTLE" logo on a brand owner's label as a
sign that the plastic bottles and packaging are eco-friendly and will
oxo-biodegrade over 10-20 years as opposed to perhaps over 1,000 years for
non-treated PET plastic. Planet Green markets its product to brand owners
globally. Planet Green is also working with governmental agencies around the
world in order to influence legislation mandating that all plastics be treated
with oxo-biodegradable additives as a step toward curtailing the pollution of
the Planet with Plastic. IMGM acquired the proprietary position and intellectual
property of PGBC of Canada in exchange for giving up a 49% interest in its
corporate venture to be also called PGBC, a Delaware-incorporated subsidiary.

SOURCE: Imagin Molecular Corporation



CONTACT:
for Imagin Molecular Corporation
Patrick J. Rooney
Director of Corporate Development
416 941-9955




Copyright Business Wire 2010

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KEYWORD: United States

North America

Illinois

INDUSTRY KEYWORD: Health

Cardiology

Fitness & Nutrition

Hospitals

Medical Devices

Radiology

Manufacturing

Chemicals/Plastics

Environment

Medical Supplies

General Health

SUBJECT CODE: Merger/Acquisition