Neutron Enterprises, Inc. announces appointment of Russell J. Hoffman and merger with University Medical, Inc.
February 24 2004 - 2:58PM
PR Newswire (US)
Neutron Enterprises, Inc. announces appointment of Russell J.
Hoffman and merger with University Medical, Inc. WHITE ROCK, BC,
Feb. 24 /PRNewswire-FirstCall/ -- Neutron Enterprises Inc, (OTCBB:
NTRN) announces Russell J. Hoffman as new intern President and
Director. NTRN is pleased to announce that effective immediately
Mr. Hoffman has been appointed as interim President and Director
and will assume day to day operational responsibilities. Mr.
Hoffman was a top analyst and portfolio manager on Wall Street for
many years with senior positions held with Smith Barney, Lehman
Brothers, and Bear Stearns and later the Chief Investment Officer
for Reliance Insurance where he co-managed over $9 billion of
assets. Nanuk Warman, the outgoing Chairman and CEO, and the other
directors have tendered their resignations now that an orderly
transition of management control has occurred, insuring that all of
the previous affairs of NTRN have been finalized and completed.
Pursuant to this announcement NTRN will merge its affairs with
University Medical Enterprises Inc., a newly formed special purpose
acquisition company, thereby streamlining and superseding all prior
re-organizational efforts. NTRN will effect a name change to
University Medical Enterprises, Inc. ("UMED") in due course and
will notify shareholders upon receiving approval to change its
ticker symbol to UMED on the OTC BB. The previously announced
Letter of Intent to acquire the assets of NexTherapeutics Inc. has
progressed to an asset purchase agreement with UMED. For more
information logon to http://www.otcinfo.net/ or call Dick Ford
(480-949- 7965) Director of Corporate Information and Customer
Relations. This press release does not constitute an offer to sell
or a recommendation to purchase any securities. This press release
may contain forward-looking statements, including the company's
beliefs about its business prospects and future results of
operations. These statements involve risks and uncertainties. Among
the important additional factors that could cause actual results to
differ materially from those forward-looking statements are risks
associated with the overall economic environment, the successful
execution of the company's plan of operation, changes in the
company's anticipated earnings, continuation of current contracts,
changes in gaming and other applicable regulations, and other
factors detailed in the company's filings with the Securities and
Exchange Commission, including its most recent Registration
Statement on Form 10-SB of the Securities and Exchange Commission,
and Form 10-QSB Quarterly Reports. In addition, the factors
underlying company forecasts are dynamic and subject to change and
therefore those forecasts speak only as of the date they are given.
The company does not undertake to update them; however, it may
choose from time to time to update them and if it should do so, it
will disseminate the updates to the investing public. DATASOURCE:
Neutron Enterprises Inc. CONTACT: For more information logon to
http://www.otcinfo.net/ or call Dick Ford, Director of Corporate
Information and Customer Relations, 480-949-7965
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