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Medical
Services Signs Financing Agreement
With US Based Investment Fund
July 8, 2005
Medical Services International Inc. (OTC: MSITF) is pleased to
announce that it has signed a financing agreement with a US based
investment fund, The Nutmeg Group LLC. (www.tngroupllc.com).
The fund is providing a minimum of $450,000US and up to $1,000,000US
which will give Medical Services International flexibility and allow
it to attain its financial goals, fulfill existing sales commitments
and expand its marketing and distribution network. With this capital
infusion, the Company's Shanghai facility will immediately implement
its aggressive marketing plan in China and Southeast Asia with the
expectation of increasing orders and production significantly.
Randall S. Goulding, Managing Director of The Nutmeg Group, LLC,
said, "We are anxious to assist Medical Services International Inc
in facilitating strategic relationships and finance needs as the
Company grows, and we look forward to a long term, mutually
profitable relationship with the Company."
The Nutmeg Group has also joint ventured with the Company to
facilitate FR. George Clement's endeavor to make available the VScan
HIV test kits to the US Virgin Islands in cooperation with local
officials.
The Nutmeg Group, LLC and its principals have been successful in
raising capital for companies that in their opinion have excellent
upside potential. With more than 30 million dollars under
management, the Nutmeg Group, LLC is a value added private capital
investment firm and a full service investment and consulting
organization dedicated to helping growth companies emerge as
industry leaders. Staffed with an impressive array of diverse
talents and a robust infrastructure, Nutmeg stands committed to
facilitating Medical Services International's success. Loren Comitor,
President of CCM&A, Nutmeg's advertising and marketing affiliate,
will endeavor to facilitate new marketing arrangements for Medical
Services. Nutmeg's associates feel that they will be able to enhance
the Medical Services website and assure that the Company's image
will reflect and be commensurate with its outstanding prospects.
"Our investment and ongoing commitment is prompted by our extreme
optimism about the outlook for Medical Services and its capacity to
ramp up its operation to seize opportunities," said Goulding. "We
believe the current valuation does not sufficiently reflect its
opportunities near and longer term."
"We are impressed by Medical Services talented management
resources," Goulding continued. "We plan to play a vital role in
Medical Services International's very promising future. In fact the
specific reason for this cash infusion is to focus on creating new
business opportunities and joint ventures," said Goulding.
About VScan ™
The VScan™
rapid test kit is a single use, easy to use, test for the screening of
HIV 1&2, Hepatitis B&C, Tuberculosis (TB), Dengue Fever and West Nile,
Malaria, Syphilis, and Prostate Cancer. The kits cannot be sold in
Canada.
For further information contact:
Robert Talbot at 780-430-6363 or
Bill Whitehead, Jr., 416-822-5883
Medical Services International Inc. trades in the United States on the
NQB Pinksheets under the symbol "MSITF". |
