COUNSEL AND CHOICE DRUG BOARDS APPROVE REVISED DEAL.Teaneck, N.J.--(BUSINESS WIRE)--Nov. 4, 1994--Choice Drug Systems, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :DOSE (common stock), DOSEW (warrants)) and Counsel Corporation of Toronto, Canada (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :CXS CXS Coherent X-Ray Scattering ) announced today revised terms of an investment by Counsel in Choice Drug. Under the revised terms, Counsel has agreed to purchase the 2,000,000 shares of Choice Drug common stock in a private placement at $3.40 per share rather than $3.21 per share announced Monday. In addition, the per share price of the 2,000,000 warrants exercisable over five years will now be the greater of $4.50 or the closing price of Choice Drug common stock on the trading day immediately preceding the closing of the transaction. This transaction has been unanimously approved by the Boards of Directors of both Counsel and Choice Drug. All other terms of the letter of intent remain the same. The price of Choice Drug common stock closed yesterday at $4 7/16 on the Nasdaq National Market. Counsel's 70%-owned U.S.-based home health care business, American HomePatient (Nasdaq:AHOM) is the fourth largest diversified provider of home care services in the United States. American HomePatient's primary services include home respiratory services, home infusion, parenteral parenteral /pa·ren·ter·al/ (pah-ren´ter-al) not through the alimentary canal, but rather by injection through some other route, as subcutaneous, intramuscular, etc. par·en·ter·al adj. 1. and enteral nutrition Enteral nutrition Nourishment given through a tube or stoma directly into the small intestine, thus bypassing the upper digestive tract. Mentioned in: Electrolyte Supplements, Enterostomy, Necrotizing Enterocolitis and home medical equipment. Choice Drug Systems, Inc. and its wholly owned subsidiaries 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. provide pharmaceuticals, durable medical equipment Durable medical equipment is a term of art used to describe certain Medicare benefits, that is, whether Medicare may pay for the item. The item is defined by Title XVIII the Social Security Act: CONTACT: Choice Drug Systems, Inc.
Frank Mandelbaum, 201/833-2800
or
The Equity Group Inc.
Robert Goldstein, 212/371-8660
or Eileen Shell, 212/836-9606
or
Counsel Corporation
Ivan Shaffer, 416/866-3187
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