Corgenix Expands Operations in United States and Europe; New U.S. Facility and U.K. Office Designed to Meet Growth Expectations.DENVER -- Corgenix Medical Corporation (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB: CONX), a worldwide developer and marketer of diagnostic test kits, has relocated its headquarters and manufacturing facility, as well as its international business office in the United Kingdom, to meet the Company's expected worldwide growth in its sales of diagnostic products. The new 32,000 square foot Denver-based headquarters has more than doubled in size from the previous combined sites. The new building houses corporate headquarters and administration, research and product development, quality and regulatory affairs Regulatory Affairs (RA), also called Government Affairs, is a profession within regulated industries, such as pharmaceuticals, medical devices, energy, and banking. Regulatory Affairs professionals usually have responsibility for the following general areas: named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. sales and marketing management. The U.K. office manages the Company's international distribution network and serves as a distribution center for Company products sold throughout Europe and the Middle East. "This expansion and relocation is a significant strategic move for our Company, signifying our expectation for greatly increased sales of our diagnostic products worldwide," said Douglass Simpson, Corgenix President and Chief Executive Officer. "Our existing U.S. and international offices were constraining our ability to grow, and these changes directly address this problem. Our new U.S. headquarters is a state-of-the-art facility, which will allow us to increase production to meet expected market demands for existing and future products. Equally as important, even though we more than doubled the size of our facility, the overall occupancy costs Occupancy costs are the whole life costs of buildings and their associated land from occupancy until disposal. These costs may be incurred on a regular or irregular basis. Occupancy costs are those costs related to occupying a space including; rent, real estate taxes, personal over the seven year term of the lease will only increase by approximately 11% over the costs of our previous outdated facilities. Our new U.K. office is larger and more functional as well, and will provide us with greater warehousing capabilities to address increases in product sales in Europe and the Middle East." About Corgenix Medical Corporation Corgenix is a leader in the development and manufacturing of specialized diagnostic kits for immunology immunology, branch of medicine that studies the response of organisms to foreign substances, e.g., viruses, bacteria, and bacterial toxins (see immunity). Immunologists study the tissues and organs of the immune system (bone marrow, spleen, tonsils, thymus, lymphatic disorders, vascular diseases vascular diseases, n.pl diseases of the peripheral circulatory system. and bone and joint disorders. Corgenix diagnostic products are commercialized for use in clinical laboratories throughout the world. The company currently sells over 50 diagnostic products through a global distribution network and has significant experience advancing products through the FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. process. More information is available at www.corgenix.com. Statements in this press release that are not strictly historical facts are "forward looking" statements (identified by the words "believe", "estimate", "project", "expect" or similar expressions) within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. These statements inherently involve risks and uncertainties that could cause actual results to differ materially from the 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. . Factors that would cause or contribute to such differences include, but are not limited to, continued acceptance of the Company's products and services in the marketplace, competitive factors, changes in the regulatory environment, and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. The statements in this press release are made as of today, based upon information currently known to management, and the company does not undertake any obligation to publicly update or revise any forward-looking statements. |
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