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Medicure Inc. (TSX: MPH)(AMEX: MCU)(February 11, 2008), a cardiovascular focused biopharmaceutical company, announced earlier today its President and CEO, Albert D. Friesen, PhD, will deliver a corporate presentation at The 10th Annual BIO CEO & Investor Conference. The presentation will take place at 2:45 p.m. Eastern Time on Wednesday, February 13th in the East Foyer at the Waldorf-Astoria Hotel in New York, NY.
A live audio webcast of the presentation will be accessible through Medicure's Investor Relations website at www.medicure.com. An archived edition of the presentation will be available later that day.
Medicure is a biopharmaceutical company focused on the development and commercialization of novel compounds to treat cardiovascular disorders. In addition, Medicure has a medicinal, chemistry based drug discovery program focused on discovery and advancement of novel small molecule anti-ischemics and antithrombotics towards human clinical studies.
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Bell Buckle Holdings, Inc. (PINKSHEETS: BLLB)(February 11, 2008) announced earlier today that Tree of Life's Atlanta division will be distributing their products beginning in March, an important distribution deal that the company believes will open doors to retailers in the south, such as Publix Supermarkets. Publix already distributes some Bell Buckle products in its stores.
Tree of Life-Atlanta distributes to retailers in Georgia, Tennessee, South Carolina, Alabama and Mississippi. Publix and Whole Foods are two retailers serviced by Tree of Life-Atlanta. Tree of Life-Dallas has distributed Bell Buckle's products now for over a year.
The news today comes on the heels of several extremely positive developments and announcements over the past several months, including news of record breaking sales for January, as well as record sales for 4th quarter '07. The company has attributed its growth to increased grocery distribution into major chains like Wal-Mart, Publix, Albertons, Kroger, Whole Foods and others.
Bell Buckle Holdings Inc. was founded in 1995 as Bell Buckle Country Store, Inc., a family owned and operated business, dedicated to producing the finest all-natural gourmet food products on the market. This dedication to excellence has garnered recognition throughout the industry and many national awards for both taste and packaging. Through the years, the company has grown to include 5 brands, 239 products, sold in all 50 States and overseas through grocery stores, specialty gourmet & gift shops and big box retailers. Bell Buckle Country Store, Inc. products are sold under the brands: Captain Rodney's, Simplify, Bell Buckle Country Store, Rose & Ivy and Bainbridge Festive Foods.
Tree of Life, Inc. is the world's leading marketer and distributor of organic, natural and specialty foods, serving customers throughout the United States and Canada. Tree of Life, Inc. is a wholly owned subsidiary of Royal Wessanen NV based in The Netherlands. The parent company, Wessanen, has over two centuries of experience in the food industry.
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PriceSmart, Inc. (NASDAQ: PSMT)(February 11, 2008) announced earlier today that the Company has entered into a Settlement Agreement and Release with PSC, S.A. ("PSC"), Tecnicard, Inc. and Banco de la Produccion, and their affiliates (collectively "PSC Parties"), which resolves the previously announced disputes that had been pending between the Company and the PSC Parties.
The terms of the Settlement Agreement and Release include: (i) a dismissal of all pending litigation and a mutual release of all claims; (ii) the Company's acquisition of PSC's 49% interest in PSMT Nicaragua (BVI), Inc. resulting in the Company being the sole owner of the PriceSmart Nicaragua business; (iii) termination of other agreements between the Company and the PSC Parties resulting in, among other things, banks affiliated with the PSC parties vacating the PriceSmart warehouses by mid-April, 2008; (iv) certain real estate conveyances between the parties relating to properties adjacent to the PriceSmart warehouse clubs in Managua, Nicaragua and Zapote, San Jose, Costa Rica, including the Company's acquisition from PSC of a land parcel at the Zapote site and the Company's conveyance to PSC of two land parcels at the Managua site; and (v) subject to PSC's commercially reasonable efforts to sell, during a 60 day period commencing February 8, 2008, the Company and PSC will enter into a Put Agreement covering any of the 679,500 shares of the Company's common stock which PSC owns at the end of such period. The Put Agreement, in turn, will require PSC to use commercially reasonable efforts to sell the shares subject to the Put Agreement during a period of 60 days from the date of the Put Agreement. At the end of such period, PSC may require the Company to purchase at $25.00 per share any of those shares which may remain unsold at the conclusion of that period. Payments made by the Company pursuant to this Agreement for items (i), (ii), (iii), and (iv) totaled $17.85 million from available operating funds.
Edgar A. Zurcher, a director of the Company since November 2000, is President and a director of PSC, S.A. As required by the terms of the Settlement Agreement and Release, Mr. Zurcher resigned from the Company's board of directors on February 8, 2008.
The Company recognized a provision for settlement of pending litigation of $5.5 million for its fiscal year ending August 31, 2007. Subject to the eventual resolution of item (v), which cannot be reasonably estimated at this time, the financial impact of the Settlement Agreement and Release is consistent with that provision, net of income tax.
About PriceSmart
PriceSmart, headquartered in San Diego, owns and operates U.S.-style membership shopping warehouse clubs in Central America and the Caribbean, selling high quality merchandise at low prices to PriceSmart members. PriceSmart now operates 25 warehouse clubs in 11 countries and one U.S. territory (four each in Panama and Costa Rica; three each in Guatemala and Trinidad, two each in Dominican Republic, El Salvador and Honduras; and one each in Aruba, Barbados, Jamaica, Nicaragua and the United States Virgin Islands).
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Drinks Americas Holdings, Ltd. (OTCBB: DKAM)(February 11, 2008), a leading developer and marketer of premium beverages that partners with renowned icons, announced earlier today that it has made its second shipment consisting of 1,000 cases of Trump Super Premium Vodka to Russia. This shipment is part of Drinks Americas' contract with Recolte (its distribution partner in Russia) to purchase approximately $7.5 million of Trump Super Premium Vodka this year. This shipment, as well as others to Russia, are in coordination with Wanders, the Dutch distillery that produces Trump Super Premium Vodka. The 1,000-case shipment consists of various sizes of Trump Super Premium Vodka.
Recolte launched the Trump Super Premium Vodka brand at Moscow's Millionaires Fair in November 2007. The famous exhibition, held in one of Moscow's largest exhibition halls, featured the world's most prominent luxury goods and was attended by only qualified millionaires and Russia's most affluent consumers. In 2005, the vodka market in Russia was $10.2 billion and is expected to double in size by 2009.
Patrick Kenny, President and CEO stated, "We are happy that sales in Russia are underway and our partners have taken time to work through the logistical issues of starting to ship goods from our Dutch distiller to Russia. The sales revenue and profit margins from our expansion in Russia have significant implications for Drinks Americas' top and bottom line in the near term. The news of this expansion has interested other potential markets. We are looking aggressively at other export opportunities and expect to ship to partners in Asia this year."
ABOUT DRINKS AMERICAS
Drinks Americas develops, owns, markets, and nationally distributes alcoholic and non-alcoholic premium beverages associated with renowned icon celebrities. Drinks Americas' portfolio of premium alcoholic beverages includes Trump Super Premium Vodka and Willie Nelson's Old Whiskey River Bourbon. The Company's non-alcoholic brands include the distribution of Paul Newman's Own Lightly Sparkling Fruit Juice Drinks and Flavored Waters.
Other products owned and distributed by Drinks Americas include award-winning Damiana Liqueur and Aguila Tequila from Mexico, Cohete Rum Guarana from Panama, and Rheingold Beer. Damiana, Old Whiskey River, Aguila Tequila and Cohete Rum are Gold and Silver Medal award winners respectively from the International Beverage Tasting Institute and the San Francisco International Wine and Spirits Competition.
For further information, please visit our website at www.drinksamericas.com Drinks Americas was founded in 2004 by J. Patrick Kenny, a leading expert in beverage sales and marketing. Mr. Kenny developed his industry expertise in a variety of management positions at the world's leading beverage companies, including Joseph E. Seagram and Sons and The Coca-Cola Company. He has also acted as advisor to several Fortune 500 beverage marketing companies, and has participated in several beverage industry transactions.
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