VANCOUVER, British Columbia, June 30, 2004 (PRIMEZONE) -- AMS Homecare Inc. (TSX Venture Exchange:AHC) (OTCBB:AHCKF) (www.amshomecare.com) has disseminated to the shareholders its 2004 Annual General Meeting Circular with proxy. The company is asking for the approval from shareholders on the following particulars by way of proxy at its annual general meeting on July 26, 2004:
Particulars of Matters to be Acted Upon
A. Election of Directors.
Management is proposing for adoption an ordinary resolution that the number of directors of the company be fixed at five.
B. Appointment of Auditor and Fix Remuneration.
Management is proposing for adoption for the re-appointment of HLB Cinnamon Jang Willoughby, Chartered Accountants, as the company's auditor until the next annual general meeting of members
C. Shareholder Approval of Company Option Plan and Approval of Options granted and to be issued.
Management is proposing the approval of the Company Stock Option Plan and for the options granted.
D. Approval from shareholders to De-list from the TSX Venture Exchange.
In March of 2004, the company obtained a listing on the OTC BB. Its symbol is AHCKF. The company believes that in the coming months it may be in the interests of shareholders to discontinue its TSX Venture Listing. The company seeks the shareholders approval to de-list from the TSX Venture Exchange if the Board, in its discretion, determines that it is in the best interests of the company to do so. The reasons the company is considering this include the extra cost burden of the dual listing, and the opportunity the OTCBB listing provides to access financings in the United States that have been previously announced.
In addition, as the company has indicated in previous annual statements and quarterly statements, it is the company's view that it has suffered delays and resulting costs and damages as the result of unnecessary difficulties it believes were caused by the TSX Venture in the RTO process. In addition, the company has encountered other difficulties with the TSX Venture both prior to and since the completion of the RTO listing. The company has consulted legal counsel regarding this matter and anticipates obtaining a legal opinion as to whether the conduct the company complains of provides a legal basis for a claim for damages. No decision has been made by the board to commence a lawsuit, and a decision will not be made until a legal opinion has been obtained.
If for any of the reasons set out above, or otherwise, the Board determines that it is in the company's best interests to de-list from TSX Venture, the company seeks the approval of the shareholders for the Board to de-list the company from the TSX Venture Exchange at any time as the Board determines appropriate. The company will continue to maintain its listing on the OTC BB and as such information on the OTCBB can be found on (www.otcbb.com).
About AMS Homecare
Founded in 1989, AMS Homecare is a successful purveyor of mobility equipment, durable and disposable medical products and patient monitoring technology that is recognized for its innovation, quality and style. With a base of 300 plus dealer customers in Canada, the company is moving forward to strengthen its foundation and to build an organization capable of serving the independence needs of the aging populations in Canada and the United States.
Statements contained in this release relating to AMS Homecare Inc. that are not historical facts are "forward-looking" statements as contemplated by the Private Securities Litigation Reform Act of 1995, as amended. Such forward-looking statements are subject to risks and uncertainties, which are enumerated in the company's most current filed Annual and Interim Reports. These risks and uncertainties could cause actual results to differ materially from those projected or implied in the forward-looking statements. The TSX Venture securities market has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
More information may be obtained by contacting The Agora Investor Relations Corp. on the web at http://www.agoracom.com (please View AMS Homecare Forum) or by emailing AHC@agoracom.com.
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