SCOTTSDALE, Ariz., March 29, 2005 (PRIMEZONE) -- Arizona-based PanaMed Corporation (Pink Sheets:PANA) and Virginia-based VisualBoardBooks, Inc. signed an Agreement and Plan of Merger. The structure of the merger calls for PanaMed to change its name to Endexx Corporation with VisualBoardBooks' eXecutive Relationship Management (or "XRM") software technologies product and service to become the Company's primary focus for operations. "VisualBoardBooks" will become the XRM product name.
"VisualBoardBooks provides a unique and dynamic opportunity for the shareholders of PanaMed to achieve greater shareholder value with the Company moving forward," stated Todd Davis, PanaMed's Chief Executive Officer.
"We are very excited about this merger," said Michael Atkins, CEO of VisualBoardBooks. "VisualBoardBooks is taking CRM to the next level by improving business communications and decision-making with our online XRM for executives and directors."
About VisualBoardBooks, Inc.
Similar to the way in which Customer Relationship Management ("CRM") systems have, in recent years, refined a company's ability to communicate with its customers, VisualBoardBooks' management expects its eXecutive Relationship Management ("XRM") to enable a company's executives, directors, management teams, staff, subsidiaries, and shareholders to more efficiently communicate with each other. VisualBoardBooks' turnkey solution system is a simple and easy-to-use virtual private network that manages sensitive corporate documents securely and in real time. These documents include financial, legal, human resources, merger and acquisition documents, and many more.
Safe Harbor Statement
This press release contains forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), including statements regarding potential sales, the success of the company's business, as well as statements that include the word ``believe'' or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of PanaMed to differ materially from those implied or expressed by such forward-looking statements. Additional information on these and other factors may be included on future 10-Q and 10-K reports.. This press release speaks as of the date first set forth above and PanaMed assumes no responsibility to update the information included herein for events occurring after the date hereof. Actual results could differ materially from those anticipated due to factors such as the lack of capital, timely development of products, inability to deliver products when ordered, inability of potential customers to pay for ordered products, and political and economic risks inherent in international trade.