PYNGF.. $0.162..
Pyng Medical Corp.: MAT(R) Tourniquet Has Been Adopted by the Indian Military
Dow Jones and Company, Inc. - Jun 09 at 14:42
Company Symbols: OTC-PINK:PYNGF, TorontoVE:PYT
VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 9, 2011) - Pyng Medical Corp. (TSX VENTURE:PYT) announced today that the Indian Military initiated a standardization process with the MAT(R) Tourniquet by purchasing 4,500 units in Pyng's second quarter through its exclusive dealer in India, vTitan Corporation Private Limited. Pyng's MAT(R) Tourniquet has been widely accepted into various defense units across India with the view to become "standard of care", and will be adopted throughout the Indian military in the coming months.
Bobby Shah, Chief Executive Officer for vTitan India commented; "We are proud to represent a company that focuses on innovation."
"Due to the strong acceptance of the MAT(R) Tourniquet, other Pyng products are now being considered by India Defense Units." Mr. Shah further added; "We see Pyng product lines becoming a standard of care in the near future in India."
About MAT(R) Tourniquet
MAT(R) Tourniquet provides fast and easy one-handed application and stops moderate to severe extremity blood loss to damaged and trapped limbs. It is the only tourniquet that meets all U.S. Department of Defense performance requirements (www.acep.org/workarea/downloadasset.aspx?id=40782). The MAT(R) is the silver award recipient for Design of the Decade from Industrial Designers Society of America.
About Pyng Medical Corp.
Pyng Medical Corp. commercializes award-winning trauma and resuscitation products for front-line critical care personnel. Pyng's expanded product portfolio includes a variety of innovative, lifesaving tools. With growing markets in North America, Europe and Asia, Pyng offers user-preferred medical devices for use by hospital staff, emergency medical services and military forces worldwide.
Safe Harbour Statement; Forward-Looking Statements: This release may contain forward-looking statements based on management's expectations, estimates and projections. All statements that address expectations or projections about the future, including statements about the Company's strategy for growth, product development, market position, expected expenditures and financial results are forward-looking statements. Some of the forward-looking statements may be identified by words like "expects", "anticipates", "plans", "intends", " projects", "indicates", and similar expressions. These statements are not guarantees of future performance and involve a number of risks, uncertainties and assumptions. Many factors, including those discussed more fully elsewhere in this release and in documents which may be filed with the British Columbia Securities Commission, the Alberta Securities Commission, the Ontario Securities Commission, the TSX Venture Exchange, as well as other USA Commissions, could cause results to differ materially from those stated. These factors include, but are not limited to changes in the laws, regulations, policies and economic conditions, including inflation, interest and foreign currency exchange rates, of countries in which the Company does business; competitive pressures; successful integration of structural changes, including restructuring plans, acquisitions, divestitures and alliances; cost of raw material, research and development of new products, including regulatory approval and market acceptance; and seasonality of sales in some products.
Neither the TSX Venture Exchange nor its Regulatory Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Pyng Medical Corp.
Nadine Gaston
VP of Global Sales and Marketing
206.226.3082
www.pyng.com
