Degama Enters Into LOI to Acquire Igeacare Systems Inc. of Richmond Hill Canada
LAS VEGAS, NEVADA, May 6, 2009 (Marketwire via COMTEX) -- Degama Software Solutions Inc., (PINK SHEETS:DGMA) has entered into a Letter of Intent to acquire all the issued and outstanding shares of IgeaCare Systems Inc. in an all stock transaction.
IgeaCare Systems Inc. is a manufacturer and distributor of telephony based products with a primary focus on the healthcare sector. Their flagship product, the "igeacom", is the world's first line powered telephony based nurse call and has been sold throughout North America since 2004.
Under the terms of the LOI, IgeaCare Systems Inc. shall spin out their Telehealth division, Healthanywhere, prior to the closing of the transaction.
The LOI stipulates various conditions that will need to be met in order to complete the transaction and it is anticipated that the actual transaction shall take up to 30 days to complete.
Additional details shall be released in due course.
About IgeaCare Systems Inc.
IgeaCare Systems Inc manufactures state-of-the-art telephony based communication systems with a focus on the Healthcare, Public Safety, Education, and Retail sectors. Our technology coupled with our strategic partnerships, enables us to deliver one of the most robust and versatile product portfolios in IT and Communications today.
visit: www.igeacare.com This press release contains forward-looking information within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Exchange Act of 1934 and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. For those statements, the Company claims the protection of the safe harbor for forward-looking statements provisions contained in the Private Securities Litigation Reform Act of 1995 and any amendments thereto. Such forward-looking statements by definition involve risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from the future results, performance or achievements expressed or implied by such forward-looking statements. In particular, there is no assurance that production, pricing levels or other factors pertaining to the manufacturing and retail operations will be sustained at the expected rates or levels over time. Discussions of factors, which may affect future results, are contained in the Company's most recent SEC filings.
SOURCE: Degama Software Solutions Inc.
Degama Software Solutions Inc.
Peter Preston 416-841-5414 email@example.com IgeaCare Systems Inc.
Ed Ruzic CFO 905-747-2222 www.igeacare.com