BASEL,
Switzerland, March 23
/PRNewswire/ - Neuro-Biotech Corp. (PINKSHEETS: MRES) (OTCQB: MRES)
announces that management has completed its due diligence
process.
Following the completion of the preliminary due
diligence, Neuro-Biotech Corp. Has come to the conclusion that it
is in the best interest of the company not to proceed in pursuing
any longer those negotiations in regards to the unsolicited offer
from AURIC Pharma Science at the present time. Following a careful
review of the documents that where provided by AURIC, the company
has not been able to get satisfactory answer and information in
order to complete the basic due diligence procedure as was
initially agreed on.
Both companies have mutually agreed to enter
into discussion of possible distribution license agreement for a
specific sector of the European Market. Discussion will be
initiated in the course of the coming days.
For more information on Neuro-Biotech Corp or to
contact a company representative, please visit:
www.neuro-biotechcorp.com
FORWARD LOOKING STATEMENTS
This release contains statements that are made
pursuant to the Safe Harbor Provisions of the Private Securities
Litigation Act of 1995. Certain statements in this press release
may contain words such as "anticipates," "believes," "could,"
"expects," "intends," "may," "projects," "targets" and other
similar language that is considered forward-looking statements.
These forward-looking statements are subject to certain risks and
uncertainties and persons reading this release are cautioned that
such statements are only predictions, and that the Company's actual
future results or performance may be materially different. The
Company disclaims any intention or obligation to update or revise
forward-looking information, whether as a result of new
information, future events, or otherwise, could cause the company's
actual results to differ materially from those indicated in any
forward-looking statements.
SOURCE Neuro-Biotech Corp.