Citadel Environmental Group Inc. announces management and board additions, opening of new reprocessing facility and completion of private placement.THOUSAND OAKS, Calif.--(BW HealthWire)--June 4, 1997--Citadel Environmental Group Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB: CTEV CTEV Congenital Talipes Equino Varus ) announced the following today: Applied Medical Recovery Inc. ("AMR (1) (Adaptive Multi-Rate) A variable rate speech codec selected by the 3GPP for the 3G evolution of the GSM cellphone system (WCDMA). Using the Algebraic CELP (ACELP) compression technology, AMR provides toll quality sound at transmission rates from 4.75 to 12. "), Citadel's majority-owned subsidiary majority-owned subsidiary A firm in which more than 50% of outstanding voting stock is owned by the parent company. , expanded its senior management team effective June 2, 1997. Ricardo Ferreira has filled the chief executive officer vacancy for AMR and Timothy Einwechter has become AMR's chief financial officer. Both men possess a strong operational track record within the medical industry and will guide AMR's expected growth. As of May 17, 1997, AMR's board appointed Reuben Sandler, Ph.D. to the board of directors. Dr. Sandler has extensive experience in the pharmaceutical industry and related medical businesses. AMR recently opened a 12,000-square-foot reprocessing Reprocessing may refer to:
Any surgical procedure intended to end fertility permanently (see contraception). Such operations remove or interrupt the anatomical pathways through which the cells involved in fertilization travel (see reproductive system). protocols using independent lab testing, as well as protocols issued from the manufacturers of the devices, allow AMR to deliver the reprocessed instruments in "good as new" condition. As of April 30, 1997, Citadel completed a private placement through the sale of units consisting of convertible preferred stock Convertible Preferred Stock Preferred stock that includes an option for the holder to convert the preferred shares into a fixed number of common shares, usually anytime after a predetermined date. Also known as "convertible preferred shares". and warrants. The company raised over $800,000, primarily to facilitate the continued expansion of AMR. Citadel, through its majority-owned subsidiary, AMR, has developed a unique service recycling and reprocessing non-critical surgical instruments and other related medical devices. This news release contains forward-looking statements which involve risks and uncertainties including, but not limited to, economic conditions, product and service demand, competitive products and pricing, and regulatory actions by federal, state and local governmental authorities. CONTACT: Citadel Environmental Group Inc., Thousand Oaks, Calif. Donald F. Chelius, 805/777-3450 or Phoenix Alliance Inc. 303/671-6763 |
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