SOSUA BAY, Dominican Republic, March 17, 2011 (GLOBE NEWSWIRE) -- Proton Laboratories, Inc. (Pink Sheets:PLBI) CEO, Armando Casciati, announced today that Proton Laborotories, Inc./RegenoBody will rescind the Agreement with Proton Laboratories, Inc. consummated in January of 2010 due to undisclosed liabilities and undisclosed claims that have arisen and have not been able to be resolved. Unfortunately, although we have completed the laboratory and are now ready to accept patients we are faced with the need to rescind our Agreement for the reasons stated and move forward as we were before the transaction with Proton Laboratories. We deeply regret having to take this step but have not been able to resolve the $500,000 + in claims and liabilities we were not told of and did not know existed at the time of the transaction. We have researched the issues over the last weeks and while there may be issues with the claims it is not our responsibility and we cannot afford to undertake that responsibility. The rescission will leave Proton with the assets it had before the transaction with RegenoBody and will have its prior management and RegenoBody will continue as a private entity.
FORWARD-LOOKING STATEMENT:
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