MONTREAL, April 14, 2005 (PRIMEZONE) -- Bio-Tracking Security Inc. (Pink Sheets:BTSI) announced today that the company has hired the services of Great West Oil and Gas and, more precisely, its President Dr. Nicolas Mattossian to lead negotiations with Nord Oil Corporation.
Dr. Matossian is the Chairman and President of Great West Oil and Gas Inc. His educational background includes a B.A. from McGill University, Montreal, a M.B.A. from Harvard University, Boston and a Ph.D. from McGill University, Montreal. Dr. Matossian brings over 25 years of experience and expertise in the oil and gas sector.
The company intends to proceed with its discussions and negotiations while performing its due diligence on a selected number of substantial properties currently held by Nord Oil in some of the major Russian oilfields. Dr. Matossian expects to perform all necessary due diligence in the very near future with the assistance and support of Niven-Fischer Energy Management, one of Canada's most reputable team of geologist and reservoir engineers, which has accumulated over 13 years of experience specifically in Russia. The company will also be working with RSM-Top Audit one of the leading audit firms in Russia and member of RSM International to complete the due diligence.
"We are very fortunate to be able to work with Dr. Matossian at this great junction in our company's history" said Jean-Francois Amyot, President of Bio-Tracking Security Inc. "The experience Dr. Matossian brings to the table is truly invaluable; he has recruited one of the best team in the world and has already furthered our discussion with Nord Oil by two folds," further added Mr. Amyot.
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A number of factors may affect our future results and may cause those results to differ materially from those indicated in any forward-looking statements made by us or on our behalf. Such factors include our limited operating history; our need for significant capital to finance internal growth as well as strategic acquisitions; our ability to attract and retain key employees and strategic partners; our ability to achieve and maintain profitability; fluctuations in the trading price and volume of our stock; competition from other providers of similar products and services; and other unanticipated future events and conditions.