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Columbia River Resources Inc. Acquires Cutting-Edge Pharmaceutical RFID Company
Friday, December 28, 2007
London -- Columbia River Resources (Pink Sheets: CRVV) has finalised the purchase of Traxxec Ltd., a UK registered company that specializes in the development of Radio Frequency Identification (RFID) products and their supportive systems and applications. There is significant synergy with the current Columbia River Resources Inc subsidiary, Medify Solutions Limited.
The founders of Traxxec have more than twenty years experience in packaging applications and development, particularly in the pharmaceutical sector, and in the last six years have funded the development of RFID applications in the pharmaceutical and healthcare market. In October 2005 they made a patent application for a RFID enabled pharmaceutical bottle and have secured early commercial sales in both Europe and US. During the development period they have also successfully piloted the RFID application and have presented the technology to the industry with some acclaim.
On April 20th 2007 Traxxec Ltd entered in to a fifteen year worldwide patent exclusive license agreement with Rexam Pharma (www.rexam.com) whereas Traxxec agreed to assign its patent exclusively to Rexam (Licensee). In the agreement the Licensee desires to manufacture and sell certain of its products consisting in attaching an RFID tag to a component subject to the said patent in the Pharmaceutical and healthcare sectors.
This news release contains forward-looking statements that are subject to certain risks and uncertainties that may cause actual results to differ materially from those projected on the basis of such forward-looking statements. The words "estimate," "project," "intends," "expects," "believes," and similar expressions are intended to identify forward-looking statements. Such forward-looking statements are made based on management's beliefs, as well as assumptions made by, and information currently available to, management pursuant to the "safe-harbour" provisions of the Private Securities Litigation Reform Act of 1995. For a more complete description of these and other risk factors that may affect the future performance of Columbia River Resources Inc. see "Risk Factors" in the Company's Annual Report on Form 10-KSB and its other filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made and the Company undertakes no obligation to disclose any revision to these forward-looking statements to reflect events or circumstances after the date made or to reflect the occurrence of unanticipated events.
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