AMBI Inc. Announces Plans to Change Its Name to Nutrition 21, Inc.Business Editors and Medical/Health Writers PURCHASE, N.Y.--(BW HealthWire)--Jan. 17, 2001 AMBI AMBI Associação Médica Brasileira Iridologia Inc. (Nasdaq: AMBI) today announced that its Board of Directors has unanimously agreed to a proposal to change the Company's name to Nutrition 21, Inc. Pending final approval by the shareholders at the Company's annual meeting to be held in March 2001, the name change will take effect immediately thereafter. The Nutrition 21 name is used by AMBI's nutrition products subsidiary, and will in the future apply to all company operations, including ingredient sales and the consumer products business. Upon approval at the annual meeting, the trading symbol Trading symbol See: Ticker symbol of the common stock of the Company on the NASDAQ national market system will become NXXI. Gail Montgomery, AMBI's President and Chief Executive Officer, commented, "Our decision to change the name of the Company is part of a broader program to better communicate our expertise in proprietary science-based nutritional products. Nutrition 21 is a name that better communicates our commitment to nutrition and further distances us from our origins in developing anti-microbial products for treatment of infectious diseases infectious diseases: see communicable diseases. . "For more than a decade, our wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , Nutrition 21, has been acknowledged as a pioneer in developing and marketing clinically substantiated essential trace minerals. Our success in marketing Chromax(R) chromium chromium (krō`mēəm) [Gr.,=color], metallic chemical element; symbol Cr; at. no. 24; at. wt. 51.996; m.p. about 1,857°C;; b.p. 2,672°C;; sp. gr. about 7.2 at 20°C;; valence +2, +3, +6. picolinate and Selenomax(R) selenium selenium (səlē`nēəm), nonmetallic chemical element; symbol Se; at. no. 34; at. wt. 78.96; m.p. 217°C;; b.p. about 685°C;; sp. gr. 4.81 at 20°C;; valence −2, +4, or +6. , sets Nutrition 21 apart as one of a select group of companies in our industry that has succeeded in building a strong proprietary branded ingredient franchise. We expect to leverage this success as well as our clinical expertise as we continue to more aggressively market our nutrition products and our development capabilities." Nutrition 21 and AMBI develop and market clinically substantiated products that make a significant contribution to the health and well being of consumers." This press release may contain certain forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. . The words "believe," "expect," "anticipate" and other similar expressions generally identify forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates. These forward-looking statements are based largely on the company's current expectations and are subject to a number of risks and uncertainties, including without limitation: the effect of the expiration EXPIRATION. Cessation; end. As, the expiration of, a lease, of a contract, or statute. 2. In general, the expiration of a contract puts an end to all the engagements of the parties, except to those which arise from the non- fulfillment of obligations created of patents; regulatory issues; uncertainty in the outcomes of clinical trials; changes in external market factors; changes in the company's business or growth strategy or an inability to execute its strategy due to changes in its industry or the economy generally; the emergence of new or growing competitors; various other competitive factors; and other risks and uncertainties indicated from time to time in the company's filings with the Securities and Exchange Commission, including its most recent Registration Statement on Form S-3, the Prospectus dated April 25, 2000, and its Form 10-K/A for the year ended June 30, 2000. Actual results could differ materially from the results referred to in the forward-looking statements. In light of these risks and uncertainties, there can be no assurance that the results referred to in the forward-looking statements contained in this press release will in fact occur. Additionally, the company makes no commitment to disclose any revisions to forward-looking statements, or any facts, events or circumstances CIRCUMSTANCES, evidence. The particulars which accompany a fact. 2. The facts proved are either possible or impossible, ordinary and probable, or extraordinary and improbable, recent or ancient; they may have happened near us, or afar off; they are public or after the date hereof here·of adv. Of this. hereof Adverb Formal or law of or concerning this Adv. 1. hereof - of or concerning this; "the twigs hereof are physic" that may bear upon forward-looking statements. |
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