GLEN ROCK, N.J., Aug. 1 Global Agri-MedTechnologies, Inc. ("Global") announced today that agreement had been reachedwith its manufacturer Scantek Medical, Inc. to amend the distributionagreement related to the exclusivity fees, due in the first year of sales,contained in the original agreement. The fees have been renegotiated, wherebyGlobal has satisfied the required payments for exclusivity. "This is asignificant amendment to our agreement," said Roger Fidler, President ofGlobal, who continued, "When Global commences sales of BreastAlert it will beable to retain a much larger percentage of the sales price and thereforeshould be able to achieve a faster market penetration through largerexpenditures for marketing and advertising as well as being better positionedto achieve earnings at an earlier date." The net effect of the amendment willallow Global to jump start more aggressively its marketing and sales program.
Mr. Fidler went on to note that negotiations were continuing with ScantekMedical to address changes to the distribution agreement so that basicalterations in the business models of both companies that have occurred in theseveral years since the distribution agreement was first signed would bereflected in the relationship between the companies.
We have redesigned our website located at www.breastalert.co.uk andencourage you to visit the site. For those interested in our as yet earlystage financial condition, you can find current postings of our financialstatements and other information about your Company at the www.pinksheets.comweb site. Simply enter our trading symbol GAGO and you will be able to accessour information.
Statements in this press release which are not historical, includingmanagement's intentions, hopes, beliefs, expectations, representations,projections, plans or predictions of the future are forward-looking statementswithin the meaning of the Private Securities Litigation Reform Act of 1995 andare subject to the risk factors and other information set forth in Global'sfilings with the Securities and Exchange Commission and on www.pinksheets.com.Actual results could differ materially from any forward-looking statements andmay vary from management's expectations and cannot be guaranteed.
As always if you have any questions, please feel free to contact theCompany at (201) 670-0881 and ask for Roger Fidler.Global Agri-Med Technologies, Inc. 400 Grove Street Glen Rock, New Jersey 07452 (201) 670-0881 (201) 670-0888(Fax) firstname.lastname@example.org
SOURCE Global Agri-Med Technologies, Inc.